Senior Home Sharing - How it works from NOLO - General Info

[GailL1]

NOLO - Senior Homesharing

Just giving this for additional general information

NOLO is a general legal info (encyclopedia-type) site - so it gives the basics on how things work from a legal prospective.

• This article gives the benefits to each of the parties for this type of living arrangement.
• It covers the match up process from application to reference checks to the final agreement negotiations
• it covers the basic homeshare agreement
• and it gives some ways to find a Home Share program

I can see how it would work with compatible people and an ironclad agreement.  

The relationship benefit has to be the big selling point in this type of (senior) cohabitation because more income could be made by renting on the open market especially if we are talking about a home that can be segregated off into separate units - say like a duplex or a finished basement with a full kitchen and separate access.

[SpringIsHereSoHappy]

@GailL1 , would you Home Share? I would NOT!  👵

[GailL1]

I don't need to financially, don't want to because I like to be alone -

but could based on the size of my house and the way it has been set up - full finished daylight basement with kitchen and private entrance.  

Now if I NEEDED to for finances or perhaps care options - I do have that choice, maybe even for more than (1) other.  

[SpringIsHereSoHappy]

@GailL1 , in my opinion, the "risks" of being murdered in one's bed or have your identity stolen far outweighs the financial gains.

Best to "downsize" = sell house.  👵

[GailL1]

I live in the woods with guns and neighbors with guns too.

If I was scared I would not live here alone 

I'm protected & insured to the hilt as far as ID theft.  Online and off

[SpringIsHereSoHappy]

@GailL1 , my comment was NOT to you. It was for folks who NEED to save their HOMES and looking at Home Sharing.

NOT everyone can carry the Insurance you mention = cannot afford it.

As far as owning a gun, okay - good for you. But with ownership comes all those laws that protect the criminals.

Anyway, I let folks live their lives as I live mine.

IF I needed to "struggle" to hang on to a house, sorry - it has to go.

Great topic as usual...  👵

[GailL1]

@SpringIsHereSoHappy  - well, I guess to each their own

If I were "struggling" I might feel the same although knowing me, I would probably weight all the options because sometimes we have to do things we don't want to do when we are "struggling" - for the best outcome - 

Sometimes we lose choices or have to reconcile with them when "struggling'

[SpringIsHereSoHappy]

@GailL1 , I let people live their lives their way. Losing my safety to save a house I cannot afford - nope, I would be selling it and live in something I can afford. We create our bills and are responsible for paying them no matter what. I luv living by myself. Did the last roommate in my 20's helping someone out. NEVER again. I know what I have coming in and going out. A roommate could die or skip out like this person did on her long distance bills. Lol, yes like over 40 years ago with my landline. Anyway found her a.s at Disney where she worked and trust me, she paid it.  👵