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Would you consider shared housing later in life?

<p>Renting in a share house is almost a rite of passage for many young Australians. You know the story — the property is a bit run-down, and it’s messy and unkempt but fantastic memories are made day after day.</p> <p>As we start families, we tend to seek more privacy and a home of our own, whether that’s through renting or a mortgage.</p> <p>Unexpected events can always occur though, and as a result some of us have to give up the independence and privacy of our own home to stay afloat.</p> <p>“When there has been some sudden change — divorce, death of a partner, loss of a job — it can force people into [moving back into shared housing]. It can be a stressful time,” says Andrew Colagiuri, a real estate agent and founder of Bright Residential.</p> <p>However, moving into a share house in our later years isn’t necessarily a tragedy for our independence, and it may well be the opposite for our financial wellbeing.</p> <p>For some people, once the kids have grown up and moved out, moving out of the empty nest and living with others again can be an option.</p> <p>“Shared housing isn’t a new concept for older Australians — they practically pioneered it in their youth — but many never thought they’d be back there looking for flatmates in their 60s,” says Colagiuri.</p> <p>In fact, the popular flatmate-finder website Flatmates.com.au has recorded the 60 to 64-year-old age bracket as having a 43 per cent growth in usage, followed by the 50-54 and 65+ brackets.</p> <p>Kathryn Daddo is a product of this growing trend, having moved into a shared housing situation with her sister later in life to try and live more comfortably. She wanted to move from full-time to casual employment and found that moving from her long-term rented home was the best way to do this.</p> <p>“The rent was just ridiculous. By the time I’d finished paying it, I had only a small amount to live off and pay for incidentals … with the opportunity to move in with my sister, I can have a better lifestyle and I don’t have to work to live,” says Daddo.</p> <p>There has been a gradual increase in the number of Australians in private rentals as outright home ownership falls. In 1992, there was a nearly 15 per cent disparity between the two, whereas the 2016 census found that these days, 30.9 per cent of Australians rent — almost equal with the 31 per cent who own outright.</p> <p>“The number of Australian homeowners has been falling for three decades now, with many destined to become ‘permanent renters’ which will have a domino effect leading to flatmates of all generations,” says Colagiuri.</p> <p>As well as the financial benefits, moving back into shared housing can also have a positive impact from an emotional and mental health perspective. Living alone in your later years can be a difficult time if you don’t have regular social interaction.</p> <p>“It’s very lonely living alone — you come home and talk to the walls … I’ve got other people my age who say, ‘I wish I had a sister like you do’ because it’s just an ideal situation for me,” says Daddo.</p> <p>The most important thing for those considering moving back into the shared housing market is to find someone you’re compatible with in a living situation. Similar interests, activities and lifestyle will make the transition especially beneficial.</p> <p>It’s also important to note that this trend isn’t just occurring in the swelling property markets of capital cities, but all across Australia.</p> <p>Daddo’s rental situation was in the Hawkesbury region of New South Wales, for example. “It’s all about supply and demand in these areas … I have heard of many people in rural areas being priced out due to a local mine or development taking off and forcing a rapid increase in house prices and rental prices,” explains Colagiuri.</p> <p>For some of us, revisiting living with flatmates also means having to relearn a fundamental childhood lesson — how to share with others.</p> <p>At the end of the day, whether this will suit you comes down to a balancing act between personal privacy and financial benefit — you’ll have to sacrifice one for the other. While she stresses it probably isn’t for everyone, Daddo says we shouldn’t underestimate the opportunities moving back into shared housing provides.</p> <p>“It’s certainly something that’s worth having a go at, because having the company and just being able to do the things you what to do is really beneficial at this stage in life,” she says.</p> <p><em>Written by Jamie Feggans. Republished with permission of </em><a href="https://www.wyza.com.au/articles/property/would-you-consider-shared-housing-later-in-life.aspx"><em>Wyza.com.au.</em></a></p>

Retirement Life

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Why a growing number of seniors are choosing to live in share houses

<p>Imagine being greeted at the door of a share house interview by someone aged in their 70s. Due to a growing number of seniors choosing to live in share houses, this scenario is more likely than you might expect.</p> <p>At 73, Marie Theodore-Daly might just be that friendly older face opening the door. Having lived in share houses with all ages, including those five decades younger than her, Theodore-Daly advertises for housemates via all the usual online sites. “They never say anything but they come to the door probably thinking: ‘Here’s Grandma!’” she says.</p> <p>Share houses are often seen as the exclusive domain of those in their 20s, and something people move on from, but the increasing number of people choosing to return to share house living in later life means that Theodore-Daly’s situation is becoming more common.</p> <p>Though finances are a driver for her decision to house share, the benefits are far greater. “I don’t know if I could live any other way now,” she says. “I’ve got friends who find it hard to understand why I would want to share … but living in share houses, particularly with younger people, has kept me young in my thinking and in appreciation of life.”</p> <p>But the benefits flow both ways. Theodore-Daly’s life experience means that she is a very clear communicator and knows all the ingredients for successful shared living. “When people come in for an interview, I always set out rules and we all agree on the person,” she says. In her home, housemates enter as strangers and quickly become friends, providing mutual support and connection.</p> <p>This was the case for Paul van Reyk, 65, who shares a house with a woman, also in her 60s. “We’re very old friends and now housemates,” he says.</p> <p>While house-sharing arrangements tend to be transitory and often in rented accommodation, van Reyk and his housemate co-own the house that they have shared for more than 20 years. They even share the ownership of two dogs. </p> <p>“Sharing has given me access to a property and lifestyle that I otherwise could not have afforded,” he says.</p> <p>Like all share houses, the basics of life need to be attended to. “Because we were friends before living together, we’ve never had any formal agreements,” says van Reyk, who is familiar with the challenges of share housing through his work for a tenants’ union. “Whoever gets the bill first pays and from time to time, we sit down and work out who’s paid for what.”</p> <p>Theodore-Daly also insists that good communication, and shared food, is the crux of a successful share house. “We email each other but mainly use a communication book that is in the kitchen all the time,” she says. “We have an evening meal together some days and we have regular house meetings with coffee and croissants.”</p> <p>In 2016, <span style="text-decoration: underline;"><strong><a href="https://flatmates.com.au/info/average-age-of-sharers-increase-in-2016" target="_blank">flatmates.com.au</a></strong></span> recorded that the largest increase of house sharers was in the 60-64 age bracket with 43 per cent relative growth. This increasing demand from seniors for house sharing arrangements was enough to prompt independent website <strong><span style="text-decoration: underline;"><a href="https://www.seniorshousingonline.com.au/" target="_blank">seniorhousingonline.com.au</a></span></strong> to start offering <span style="text-decoration: underline;"><strong><a href="https://www.seniorflatmates.com.au/" target="_blank">free senior flatmate ads</a></strong></span>. While the site was set up in 2004 to help people access information about retirement accommodation, in 2016, co-founder Amanda Graham saw the site’s potential for linking like-minded strangers to form share house relationships. </p> <p>“Some people are going into share housing because they can’t afford an alternative,” says Graham. “They might have divorced, or lost a partner, been made redundant, or relocated. Others are simply hitting their 50s still with a large mortgage. Our site is about using the digital economy to connect people.”</p> <p>Graham reminds us that share housing is not a new concept to those who are now in their 60s and 70s. “This is the generation who pioneered share housing in their 20s,” she says. “It’s not foreign to them.”</p> <p>Theodore-Daly is an example of this, as she grew up in a family who always welcomed friends and strangers into their home, and then in her 20s and 30s she lived in commune-style houses. “I guess I am an old hippie at heart,” she says.</p> <p>One concerning aspect of share house living that is more likely to rear its head for older housemates, is the need for health-related care. While house sharing can provide more support than living alone, it is not necessarily an arrangement that will cope with significant illness or high care needs.</p> <p>Van Reyk and his housemate have spoken about what might happen down the track as they get older. “We don’t know what’s going to happen in five or 10 years’ time, but we’re comfortable enough with each other to talk about it.” </p> <p><em>Written by Vivienne Pearson. First appeared on <a href="http://www.domain.com.au/" target="_blank"><strong><span style="text-decoration: underline;">Domain.com.au</span></strong></a>.</em></p>

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