A new trend among seniors is home sharing. Seniors receive assistance with the rent, mortgage, or utilities in exchange for a room in their home. Another benefit of home sharing is the elderly can have someone to provide skilled nursing or assistance from a service like Salus Homecare while staying in the home. It’s a way to avoid heading to a nursing home. It might not be for everyone, but many seniors and younger generations are finding benefits in the arrangement.
Benefits for Seniors:
The elderly are often on a fixed income, which doesn’t allow them to make ends meet each month. The rising costs of prescriptions, utilities, and other fluctuating bills can be a burden for the elderly. With the extra rental income, they are under less stress each month.
In some cases, the elderly person might not need the income. They might like to be able to reduce their chores around the home as well as errands that need to be completed each week. In exchange for a room, the younger person will help with cooking, laundry and food shopping.
Seniors who are no longer able to drive can get assistance with medical appointments, grocery store trips and other errands. Instead of the renter doing all the errands, a senior might like to get out of the house and do their own shopping. The renter can provide transportation as part of their agreement.
Companionship and Safety
A renter or housemate provides companionship for a senior who might like the contact with another person. Some seniors enjoy having someone to share their time with, and a housemate can turn out to be a great friend. It’s great for safety concerns too. A senior might not be able to react quickly to emergencies, and a younger person in the home can alert emergency services if their elderly housemate falls.
Things to Consider:
More Time than Money
Housemates or renters who are looking for lower rents might find that they have more time than money. It’s a perfect situation for someone who wants to save money on rent.
Living Far from Family
A student might be living far away from their family while attending college. Having a room in the home of an elderly person gives them companionship too. They may miss family, and an elderly housemate can fill that void.
Matching Home Sharers
Along with the benefits that both parties might be able to reap from this shared living arrangement, they must be able to get along peacefully in the home. It’s important that there’s an interview process before either person gets involved in a home-sharing program.
One of the biggest items that will lead to a peaceful living arrangement is to see how compatible the two are. The people involved will have to talk about their sleeping habits, whether they are a smoker, who is responsible for the cleanliness of the home and whether overnight guests will be allowed.
Home sharing for a senior can be incredibly beneficial to their well-being. They won’t be alone, and they can have the added income to make ends meet.
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