Finding the Perfect Multigenerational Home on the Central Coast
- Justin Stoner
- Jan 21
- 3 min read
Today, 17% of homebuyers are choosing multigenerational homes, the highest level ever recorded by the National Association of Realtors (NAR). This trend reflects changing needs and priorities, with affordability being a primary motivator.
Here’s a closer look at some of the best options available on the Central Coast and how they align with the growing demand for multigenerational living.
Why Multigenerational Homes Are on the Rise
In the past, multigenerational homes were primarily chosen to simplify caregiving for aging parents. While that remains a key factor, cost savings are now a major driver. Rising home prices and higher interest rates are prompting families to pool resources and share expenses like mortgages, utilities, and maintenance. According to Rick Sharga, Founder and CEO at CJ Patrick Company:
“There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”
By combining incomes, families can often afford larger homes with more space, making multigenerational living a practical and attractive option.
Luxury Living for Large Families
Why It’s Great: This expansive 6,100 sq. ft. estate boasts five bedrooms and six bathrooms, ensuring privacy for every family member. The master suite includes a private laundry, sitting room, and balconies, creating a personal retreat. The home also features a bar, billiard room, and theater, making it perfect for shared family time.
Outdoor Perks: The 0.85-acre lot includes a veranda overlooking a crystal-clear pool, ideal for hosting family gatherings or relaxing outdoors.
Considerations: Luxury comes at a price, with high upfront and maintenance costs.
Privacy and Modern Amenities
Why It’s Great: This gated property offers five spacious bedrooms, each with an ensuite bathroom. The gourmet kitchen and open-concept layout cater to shared meals and family activities. Approved plans for a rooftop deck could add another private or communal space.
Design Features: Custom marble-style flooring and balconies enhance the home’s elegance, while the electric gates and wraparound driveway ensure privacy.
Considerations: The premium price reflects its luxury finishes and location close to the beach.
Flexible Outdoor Space
Why It’s Great: Situated on a half-acre lot, this home includes three bedrooms and a large enclosed patio. The expansive yard is perfect for adding an accessory dwelling unit (ADU) or creating separate spaces for family members.
Location Perks: Nestled near wineries and golf courses, this property combines scenic views with convenience.
Considerations: Limited bathrooms (2) may pose challenges for larger families.
Affordable Options with Potential
Why It’s Great: Zoned R2, this property allows for multiple units, making it an excellent choice for adding a second home or converting the existing third building. Located minutes from the beach, it’s ideal for families looking for recreation and rental income potential.
Considerations: The primary house is small (720 sq. ft.) and may require renovations to suit larger families.
Shared and Private Spaces Combined
Why It’s Great: This three-bedroom home features multiple outdoor areas, including a rooftop deck, private patios, and a hot tub. These spaces provide room for family gatherings and personal retreats.
Community Perks: No HOA fees and close proximity to the beach add to the appeal.
Considerations: The smaller lot (3,978 sq. ft.) may limit further expansion.
Key Benefits of Multigenerational Living
Affordability: Sharing costs makes homeownership more attainable and allows families to afford larger homes with more amenities.
Closer Family Bonds: Living together offers more quality time and strengthens relationships.
Practicality: Larger homes with separate living spaces, like those listed here, provide privacy while fostering togetherness.
Final Thoughts
The Central Coast offers a variety of options for multigenerational families, from luxury estates like 413 Via Bandolero to flexible, budget-friendly choices like 2160 Ocean St. With the rising popularity of multigenerational living, now might be the perfect time to consider pooling resources to find a home that meets everyone’s needs.
If you’re ready to explore your options, let’s discuss your family’s unique situation and find the perfect multigenerational home for you!
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