‘Multi-generational living’ means two or more generations living together as a household. This is becoming increasingly common as families look for ways to manage rising costs, provide care, and strengthen family bonds. Right now multi-generational living is the fastest-growing household type in the UK.
If you’re thinking about living with your family again, here are seven questions you should ask before making the move.
1. Why do I want to move back home?
Senior Economist at the Resolution Foundation, Molly Broome says: “For many young people, living at home is a deliberate, positive decision because they’ve got strong family connections or they’re trying to save for a deposit for their own house. But some young adults might be forced to live at home because they’re finding it difficult to secure stable employment.”
Deciding to live with family again can be positive and empowering. For many young adults, it’s a chance to save money on rent, for others it’s simply to enjoy strong family connections. Others may find themselves at home due to job instability or rising living costs.
Tip - if your intention is to save money, set a clear, personal goal for your time living at home to stay motivated. This could be saving towards a car or a house deposit.
2. How will we share household expenses?
One of the greatest financial benefits is being able to share costs like rent, mortgage payments, and bills. This makes life more affordable for everyone and can speed up the savings journey for younger family members. Sometimes, parents may not charge rent at all, allowing even faster progress towards personal financial goals.
Tip - create a simple budget together to keep household expenses fair and transparent.
3. How will chores and household responsibilities be divided?
A fair division of chores is vital for smooth daily life. When everyone understands their responsibilities, the household runs more harmoniously and no one feels overwhelmed. Open conversations about what each person can manage will help prevent misunderstandings.
Tip - make a shared chore schedule that fits everyone’s routines and preferences.
4. How should we share a workspace?
Comedian of BAM! Comedy, Sam Bartley says: “We were both working from home, making videos for brands. Bec’s mum was also working from home as a part-time Counsellor. We’re not going to be screaming and making funny videos while there’s a serious counselling session downstairs. So there’s a negotiation with who gets what time. It’s all about boundaries.”
Working from home adds another layer of complexity, especially in a busy household. It’s important to agree on who uses shared spaces at different times and to respect each other’s need for quiet or privacy. Setting clear boundaries helps everyone stay productive and comfortable.
Tip - agree on ‘workspace etiquette’ early to avoid disruptions and support each other’s work needs.
5. How will this living arrangement affect my relationships?
Living with family again can bring you closer together but it might also create new tensions. Honest conversations about privacy, expectations, and personal space are essential. Regular check-ins can help everyone feel heard and supported as you all adjust to the new arrangement.
Tip - have regular family check-ins to discuss how everyone is feeling and adjust as needed.
6. Am I expecting childcare support while I’m working?
If you’ve started a family of your own and are moving in with relatives, it’s important to set clear boundaries when it comes to childcare. Grandparents often play a crucial role in supporting childcare in a multi-generational home. This can reduce nursery fees and help parents work more flexibly.
Tip - clearly discuss childcare roles and boundaries to ensure everyone’s in agreement.
7. Will I be providing unpaid care for relatives?
Senior Social Media Manager at PensionBee, Simmy Kaur says: “We had the conversation, and when they need us in the future, and if we’re able to accommodate them in the house that we’re living in, then they’ll move in. Because [in our culture] you look after your parents and I wouldn’t want them to live by themselves when they’re older either.”
Caring for elderly relatives at home can save significant sums compared with professional care, keeping more financial resources within the family. It’s important to talk openly about future care needs, whether for ageing parents or other family members. Being prepared can ease emotional and financial pressures later on.
Tip - talk openly about future care expectations to prepare emotionally and financially for what lies ahead.
Summary
Choosing to live in a multi-generational household is a big decision. With thoughtful conversations, clear goals, and shared responsibilities, you can create a home that supports everyone’s financial and personal wellbeing. Here are the main points to remember:
- Reflect on your ‘why?’ - understand your reasons for moving in together and what you hope to achieve.
- Discuss finances openly - create a fair plan for sharing expenses to ease the financial burden.
- Set household roles - divide chores and responsibilities clearly to keep harmony.
- Establish boundaries - agree on how to share workspaces and personal time respectfully.
- Communicate about relationships - keep conversations honest to strengthen family bonds.
- Clarify caregiving expectations - talk about childcare and eldercare roles to prepare for future needs.
- Plan for the future - have open discussions about long-term care and support within the household.
Listen to episode 41 of The Pension Confident Podcast as our expert guests share how multi-generational can save you money. You can also read the full transcript or watch the episode on YouTube.
Risk warning
As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.
