AARP: Boomers Seek Benefits in Home Sharing

While it is mainly appealing to female baby boomers, house sharing is becoming a viable option for some single people as they enter retirement or simply leave empty nests, writes AARP

Citing an example of three single, 50-plus women, AARP details the types of arrangements that are common among house sharers, as well as considerations that can help drive the decision. In the case outlined by AARP, three women took out a mortgage together, share household expenses and adhere to house rules. 

“Every month, the women deposit the same amount into their joint checking account to pay for utilities, property taxes and repairs,” AARP writes. “They each contribute a $100 gift card, with which they buy and share groceries — if someone entertains family or friends, she pays separately — and they occasionally eat together. They have house rules, including no overnight guests for more than seven consecutive nights, with built-in flexibility.”

The arrangements are becoming more popular through online sites that help home sharers connect with one another, AARP writes, including “Let’s Share Housing,” based in Portland, Oregon, as well as service providers that advise people on how to go about the process. 

In some cases, it can mean monthly payments in the range of $600-$900 in rent, plus benefits including companionship, shared maintenance costs and even shared groceries. 

“Few could deny that there are emotional and physical benefits from friendship and social engagement — and research supports this,” AARP writes. “In a home share, the residents can also split household chores, feel safer with more people around, and grow older at home without feeling isolated.”

Read the AARP article

Written by Elizabeth Ecker

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