AARP: Boomers Find New Senior Living Option in Home Sharing

Elizabeth Ecker | June 11, 2013 
 In spite of many senior living options available to aging baby boomers as well as a wealth of aging-in-place communities that have risen to meet the needs of the aging population, many are choosing a different course, writes AARP.

Home sharing, while not a new concept, is gaining appeal among certain populations, namely single women in their 50s and 60s, according to the report.

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.”