The Growing Trend of House-Sharing

House-sharing is becoming increasingly popular, especially among older adults.

This trend, once primarily associated with younger together in one home, people, now offers a valuable solution for elderly splitting expenses, chores folks seeking companionship, financial relief and enjoying each other’s support. Let’s dive into why house-sharing is on the rise, how economic factors play a role and how services like The Room Xchange are making a difference.

The Trend Towards House-Sharing

House sharing is no longer just for students and young professionals. More and more older adults are embracing this lifestyle, finding comfort and camaraderie in shared living arrangements. The idea is simple: people live together in one home, splitting expenses, chores and enjoying each other’s company. For many older adults, the biggest draw is the chance to combat loneliness. Living alone can be isolating and having a housemate provides daily social interactions and a sense of community. Moreover, sharing a home can significantly reduce living costs, which is particularly important for those on fixed incomes.

How the Economic Climate is Fuelling the Acceleration

The current economic climate has greatly accelerated the house- sharing trend. With living costs on the rise and housing prices soaring, many older adults find it challenging to afford living alone. Economic pressures, including inflation and high living costs, make house-sharing an appealing and practical solution.

By sharing rent, utilities and other expenses, housemates can significantly reduce their financial burdens. This pooling of resources can also lead to a higher quality of life, as shared living often includes better amenities and more comfortable living conditions.

What is The Room Xchange: How We Solve the Problem

The Room Xchange is a game-changer in the world of house-sharing. This innovative platform connects homeowners with spare rooms to people looking for affordable housing. It’s a win- win situation, especially for older adults who might feel lonely or financially strained. The Room Xchange makes the process easy and secure. They offer tools and resources, including The Complete Homeowners Guide to House-sharing, which covers everything from finding the right housemate to managing daily living arrangements. Resources such as this, ensures that both homeowners and housemates have a smooth and successful experience. They also include mandatory verification through Digital iD by Australia Post, ensuring that all parties feel safe and secure in their new living arrangements. Additionally, they have a more personalised Concierge Service which assists homeownersin setting up and maintaining their house-sharing agreements, offering peace of mind and ongoing support. They also have a unique rent offset option. Housemates can contribute through non- monetary means like helping with chores or providing companionship, which can be particularly beneficial for older adults who need a bit of extra help around the house or just want peace of mind knowing that someone is there at night.

Benefits for the Elderly and Lonely

For elderly folks, house- sharing offers more than just financial relief. Companionship is a significant benefit, as having a housemate can reduce feelings of loneliness and isolation. Regular social interactions can improve mental and emotional well- being, leading to a happier and healthier life.

House-sharing also brings practical benefits. Housemates can help
with daily chores, provide transportation and assist with other activities, making it easier for older adults to maintain their independence. Having someone around in case of emergencies provides an added layer of security.

For adult children who often feel ‘sandwiched’ between their own kids and caring for their elderly parents, house- sharing offers peace of mind. Knowing that someone is there at night in case of a fall or other emergencies can significantly reduce stress and worry.

Family Representatives and Support Workers: Essential for Success

The house-sharing process can be a little daunting, especially for older adults. That’s why The Room Xchange strongly encourages having a family representative or support worker involved in the process. These trusted people can play a crucial role in ensuring that the house- sharing arrangement is safe, comfortable and successful.

A family representative or support worker can assist the elderly person in several ways:

Filtering Enquiries:

They can help manage and filter through the enquiries, ensuring that only suitable candidates are considered.

Oversight:

They act as an oversight during the selection process, providing an additional layer of security and assurance.

Decision-Making Support:

Having a trusted person to discuss potential housemates with can help the elderly person make a well-informed decision.

Ongoing Check-Ins

Regular check-ins by the family representative or support worker can ensure that the house- sharing arrangement continues to meet the needs of the elderly person and address any issues that arise. This involvement not only enhances the safety and comfort of the elderly person but also provides peace of mind to their family members, knowing that someone trustworthy is overseeing the arrangement.

Things to Consider

Pros and Cons

Like any living arrangement, house-sharing has its pros and cons. It’s important to weigh these factors before deciding if it’s the right choice for you.

PROS:

• Financial Savings:

Sharing household expenses can significantly cut costs.

• Companionship:

Housemates offer social interaction and emotional support.

• Practical Assistance:

Housemates can help with chores and daily activities.

• Enhanced Security:

Having someone around adds an extra layer of safety.

• Resource Pooling:

Shared resources can lead to a more comfortable living environment.

CONS:

• Compatibility Issues:

Finding a compatible housemate is crucial.

• Privacy Concerns:

Sharing a home may reduce the level of privacy.

• Potential Conflicts:

Differences in lifestyles and habits may lead to conflict, if not discussed.

• Adjustment Period:

Adapting to living with someone new requires time and effort.

• Shared Responsibilities:

Division of chores and responsibilities needs to be clearly outlined.

Next Steps to Explore

If you’re considering house- sharing, here are some steps to ensure a successful and rewarding experience:

Research and Planning: Start by researching house-sharing options and understanding the dynamics involved. Think about what type of housemate would be a good fit and what your expectations are.

Utilise Resources: Use the resources available through platforms like The Room Xchange. The Complete Homeowners Guide to House- sharing provides valuable insights and practical advice to help you get started.

Conduct Interviews: Meet potential housemates and conduct thorough interviews to assess compatibility. Discuss expectations, house rules and any concerns you may have.

Verification: Ensure the safety and security of your home by verifying potential housemates through Digital ID by Australia Post.

Set Clear Agreements: Establish clear agreements regarding rent, utilities, chores and other responsibilities. Having a written house share agreement can help prevent misunderstandings and conflicts.

Stay Open-Minded: Be open to the idea of building a new relationship and adjusting to a new living arrangement. Patience and flexibility are key to makinghouse-sharing work.

Seek Support: If needed, use the concierge services offered by The Room Xchange for ongoing support and assistance. These services can help you navigate any challenges that arise and ensure a positive house- sharing experience.

House-sharing is a growing trend that offers significant benefits, especially for older adults. With the economic climate driving this trend, house-sharing provides a practical solution for financial relief and companionship.

By considering the pros and cons and taking the necessary steps, older adults can explore house-sharing as a viable and enriching option.

As Australia’s population continues to age, with projections showing that nearly half of the population will be 65 and over by 2041 (AIHW) (AIHW) , finding innovative solutions like house- sharing becomes increasingly important. The Room Xchange is here to help, providing the tools, resources and support needed to make house-sharing a positive experience for everyone involved.