Multi-Generational Homebuying Is Booming in Sarasota — Here’s Why

Multi-Generational Homebuying Is Booming in Sarasota — Here’s Why

More families in Sarasota, Lakewood Ranch, Manatee County, and Charlotte County are choosing to buy homes together — and the numbers show it’s a growing trend. According to the latest data from the National Association of Realtors (NAR), 17% of homebuyers nationwide are now purchasing multi-generational homes. That’s the highest rate ever recorded. (see graph below):

So, what’s driving this shift here in Southwest Florida? One word: affordability.

In 2024, over a third (36%) of buyers listed “cost savings” as the main reason for purchasing a home with parents, adult children, or extended family. That’s more than double the 15% who said the same in 2015. And with rising home prices and interest rates, especially in areas like Sarasota and Lakewood Ranch, it’s no surprise.

Pooling Income Is Making Homeownership Possible Again

In today’s market, buying a home in Sarasota County or Manatee County can feel out of reach for many individuals. That’s why more families are coming together — literally — to make it work.

By combining incomes and sharing costs like mortgages, utilities, and upkeep, families are not only affording homes they might not qualify for individually, they’re also gaining more space, flexibility, and support.

Industry expert Rick Sharga of CJ Patrick Company explains:

“One way to address affordability is to purchase a property with a family member. Multi-generational households are increasing — and cost is a big reason why.”

Why It Works So Well in Lakewood Ranch and Surrounding Areas

Communities like Lakewood Ranch, with their spacious floorplans and versatile layouts, are especially well-suited for multi-generational living. From separate guest suites to dual master bedrooms, local builders and homeowners alike are adapting to this growing need.

And it’s not just about saving money. According to Veterans United’s Chris Berk:

“Multi-generational homes aren’t just a trend — they’re a powerful solution for families looking to care for one another and make the most of their homebuying power.”

In fact, nearly 3 in 10 buyers nationwide say they’re considering a multi-generational home — and the trend is growing right here in Charlotte County and Sarasota too.

Bottom Line: A Smart Move for Southwest Florida Buyers

Whether you're in Sarasota, Lakewood Ranch, or anywhere in Manatee or Charlotte County, buying a multi-generational home may be the key to unlocking homeownership in 2025.

Thinking of sharing a home with family to afford more space or stretch your buying power? You’re not alone — and you’re not without options.

🏡 Ready to explore multi-generational home options in Sarasota or Lakewood Ranch?

Let’s connect and find out if it’s the right fit for your family’s needs and your financial goals.