Roommates help everyone save on their finances

November 10, 2014
2 min. read time

Can you remember the last time you had a roommate? Let me guess, during or right after your college years. Am I right? Well, it may surprise you to know that some of your fellow millennials are going down roomie road once again. According to Zillow and CNN, as of 2012 the amount of adults living with someone other than a spouse or domestic partner was up to 32%. That was two years ago. With all of the changes that have taken place in the economy since then, imagine how many adults are living with roommates now.

Let’s face it, the prices for rents are rising higher and higher. So one of the more convenient financial decisions for a host of people who have the desire to own has been to buy a home with a roommate. A party that this idea may be beneficial to is single moms. Two single mothers with children close to the same age may find that living together helps to provide a more secure family structure in the absence of a male figure.

Couples even could benefit from this type of living arrangement. Imagine two young couples, friends of course, who want to experience living on their own but still would like to save money. These couples could move into a home with a duplex that would allow them to each have their privacy as a couple while still being able to save for their dream home.

Or, think about this option for yourself as you get into your senior years. Your grandkids are grown, your kids have been grown, and you’re living all alone. Bypass the elderly homes and move in to your last house with your best friend Elma who is the same age as you and in the same predicament. Now neither of you have to be alone and your kids will be happy knowing that you’ve got someone there with you in case of an emergency.
The financial possibilities that come along with rooming with someone are almost too good to pass up. It’s a trend that seems to be catching on. Think on it.

For more information and resources, check out this post on The Zillow Blog. It's very insightful and they always have helpful information.

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