There are a number of benefits to multi-generational living. For families, it can provide financial assistance, childcare, and companionship. For older adults, it can provide social support, companionship, and help with daily tasks.

A granny annexe has long been considered a perfect solution when it comes to the decision to bring an older relative closer to home, which would save on the often hefty cost of providing assisted living and allow for shared utilities and bills. However, homeowners in particular have now begun to find themselves needing to support their own grown children who may be facing higher rents and perhaps even lower wages than before.

Planning to make a Granny Annexe your home? Here’s our tips for getting more from your space.

How A Granny Annex can become the ultimate retirement home