Multi-Generational Housing and Bitcoin Investors Reshape Connecticut's Real Estate Market

Written by:

Steve Marcinuk

Date:

10 Jun 2025

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“The American dream used to be getting married, having kids, and buying your own house. Now we’re seeing families coming back together under one roof out of necessity and choice,” explains Jesica Beaulieu, realtor with Dave Jones Realty who’s witnessing a fundamental shift in Connecticut’s housing landscape.

A Family Foundation in Real Estate

For Beaulieu, real estate has always been in her DNA. “My dad was a general contractor who started flipping houses when I was young. I was like his handy tool girl,” she recalls. This early exposure to construction gave her unique insights that benefit her clients today.

“I spent time in shops examining countertops, cabinets, flooring, and siding. While driving around, I constantly evaluated houses, noticing new roofs, decks, or landscaping,” Beaulieu says.

This background initially led her to believe she would specialize in working with investors. “I expected that would become my niche because I had substantial knowledge when evaluating properties, understanding electrical, plumbing, mold issues, and renovation costs.”

However, as her career progressed, Beaulieu found herself working across all segments of the market, from first-time homebuyers to commercial properties and office leasing.

The New York Exodus Continues

While many pandemic-era migration patterns have reversed elsewhere, Connecticut continues to benefit from an influx of New York City residents seeking more space and a different lifestyle.

“People who’ve lived in the city their entire lives tell me ‘my son’s bedroom is the size of a jail cell,'” Beaulieu explains. “They’re primarily searching in Fairfield County or New Haven County, close to I-95 or the Merritt Parkway, accepting an hour to 90-minute commute to maintain city employment while gaining more living space.”

These buyers are “tired of the city’s intensity and desire outdoor space for activities like barbecuing,” she adds, highlighting the lifestyle shift driving this continued migration.

The Rise of Multi-Generational Housing

The most significant trend Beaulieu is witnessing is the surge in multi-generational housing arrangements, representing a notable departure from the traditional American dream.

“Families with adult children in their 20s want to provide them space to save money until they can establish themselves and purchase their own homes,” Beaulieu notes. But the arrangements go beyond just adult children living with parents.

“I’m seeing extended family configurations including sisters with their husbands and children, sometimes accommodating three families in one home,” she explains. These extended family units strategically plan their living arrangements: “They designate specific areas, determining ‘this section for grandparents, this for aunts, and this for the primary income earners.'”

The drivers behind this trend are both economic and practical:

1. Childcare costs: “Child care ranges from $500 to $800 weekly per child,” Beaulieu points out. “Many families can only afford homeownership by combining resources with parents.”
2. Elder care: Instead of placing aging parents in assisted living facilities, many families are bringing them into their homes. “Families are relocating parents from out of state to provide care for them,” Beaulieu explains.
3. Future planning: The “sandwich generation” of 40-60 year olds is thinking ahead. “They’re developing strategies for the future, considering how to manage when parents require additional care,” Beaulieu says.

This trend is reshaping housing preferences. Beaulieu notes that many families are “exploring ways to convert multi-family properties back into single-family homes with distinct levels, allowing each family unit to occupy a different floor.”

Young Bitcoin Investors Enter the Market

Another notable trend in Connecticut’s real estate landscape is the emergence of young cryptocurrency investors purchasing multi-family properties.

“I encounter young adults between 20 and 25 who have generated wealth through Bitcoin investments,” Beaulieu reveals. “Some have presented Bitcoin transaction records as proof of funds when making cash offers.”

These young investors are taking a strategic approach to property ownership: “They’re investing in multi-family properties to eliminate their housing costs by renting out two units while occupying one themselves.”

Beaulieu finds this trend encouraging: “It’s impressive to see young adults thinking strategically about investments and long-term financial planning. They recognize the high cost of independent living and are finding creative solutions.”

Investor Strategies in Connecticut

For investors considering the Connecticut market, Beaulieu notes that certain towns offer better returns than others. “Bristol provides excellent value per square foot and serves as a strong rental market,” she explains. “Specific towns command higher rental rates, making them more attractive investment locations.”

The ideal investment property requires “moderate improvements, finding that sweet spot” where investors can make targeted enhancements before renting units.

Interestingly, Beaulieu observes that obvious “flip” homes aren’t commanding the premiums they once did. “These properties aren’t selling at expected price points,” she notes. “Buyers now prioritize quality over quick renovations. They want hardwood floors and tile installations that demonstrate thoughtful craftsmanship rather than hasty work.”

Market Dynamics and Pricing Strategies

When it comes to pricing strategies in the current market, Beaulieu emphasizes the importance of proper pricing from the start. “Sellers increasingly heed their agents’ advice, particularly when agents recommend listing properties at accurate market values.”

For buyers frustrated by bidding wars on attractively priced properties, Beaulieu offers a counterintuitive strategy: “Consider properties that appear overpriced. Sellers of these homes may accept lower offers, and you’ll avoid competitive bidding situations.”

She also cautions buyers against waiting for interest rates to drop significantly. “When rates decrease, prices typically increase, creating a balanced effect,” she explains. “There’s no perfect timing for purchasing property.”

Seller Preparation Tips

For homeowners looking to sell in the current Connecticut market, Beaulieu recommends focusing on cosmetic updates:

“Upgrade fixtures, refresh trim paint, enhance overall appearance, and improve landscaping to increase appeal,” she advises. “For dated features like wood paneling, consider sanding and whitewashing for a modern farmhouse aesthetic. Simple paint refreshes can transform older elements.”

These improvements are particularly important given the influx of younger buyers who have been saving while living with family. “I’m seeing more young couples with substantial down payments. They’ve accumulated savings over time and are eager to establish independent households.”

Looking Ahead

Connecticut’s real estate market continues to evolve in response to changing demographics, economic conditions, and lifestyle preferences. The continued migration from New York, the rise of multi-generational living arrangements, and the emergence of young cryptocurrency investors are all reshaping demand patterns across the state.

For buyers, sellers, and investors alike, understanding these trends is crucial to navigating Connecticut’s dynamic real estate landscape. As Beaulieu puts it, “The market reflects diverse households with varying goals and priorities.”