Reply to How long is the honeymoon period of 3 generation household?

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[quote=Anonymous]In my experience, the families that have been successful in this are families that are pretty well-off and pretty strategic

The grandparents and the young couple (with small children), all have pooled in their money to buy a large house/mansion in an expensive and desirable area, that they could not have managed to buy  on their own. Usually, the house is an excellent school district and the neighborhoods are prestigious enough to gratify the family for being upwardly mobile.

So, in the large home, they have  large suites for the grandparents  with separate entrance, multi vehicle garages, huge common areas, lots of privacy and many places to entertain.  Usually, they pool in resources and outsource cleaning, some cooking, some childcare...all under supervision of adults. They are able to afford a lot of perks through economy of scale.  They socialize more, they network more and they save more.

It works when no one is a financial burden on another. For common expenses, the money is pooled.  The house is large. Each generation can entertain, they can manage their own business to the best of their abilities, there is clarity about who is paying for what, and they outsource as much as they can so that living together makes everybody's life easier and also saves them a huge amount of money.

After a certain age, when grandparents become quite old, usually they young couple will buy the house from their parents, and then the parents start paying rent to the children, equal to their share of mortgage they were paying before.  I think it allows everyone to become richer. [/quote]

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