Secrets to Successfully Sharing a Home With Senior Parents

Multigenerational living can be a great solution for families who hope to help aging parents with expenses and health issues. Here's how to prepare for the challenges it can pose.

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No matter how much you love your parents, inviting them to live in your home is likely to create challenges for you and other members of your household.

Multigenerational living is increasingly common, especially in markets where housing is expensive, says Liliane Choney, executive director of ReVisions Resources, a San Diego-based nonprofit group that provides resources and information about successful aging.

Living with children can be a practical solution for seniors who are having financial problems or need support because of health issues, Choney told Money Talks News. It can also allow seniors to develop a closer relationship with their grandchildren.

Combining two or more generations in one home is seldom easy, however. What follows are eight steps to help you to make it work.

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