Trade up to a house share

We often focus on the financial savings that house sharing offers, but there is also a lot to be said for the better quality of the home and the greater living space a share can provide.

With professional landlords trying to squeeze as much money out of a small space as possible, live-in landlords often provide more for your money. More than that, a buddy-up with another like-minded housemate looking in your area could also unlock the opportunity to live somewhere special.

My gen-Z aged children, now living and working in London, are now spending an eye-watering amount on their flat shares, albeit in zone 2 areas, but it is the lack of space that is shocking. One has no lounge in a 3-person share, only a kitchen-diner, and the other is in a one-bed flat with her boyfriend and lots of sports equipment.

Yet, a house or flat share listed on Cohabitas usually includes use of a lounge, a kitchen and even a garden in some. In most cases the live-in landlord not only has a spare room, but also more space than they need.

Aim higher

This week I was pleasantly surprised to see two examples of house sharing offering a better living space and experience.

The first was a housemate listing inviting others to share a high-end property in Manchester. They do not own a home but are looking for a buddy-up to rent a flat or house with someone else.

It’s a bit like going on holiday when you’re in your 30’s. You can remember back-packing and hostels from previous trips, but you would rather stay in a nicer hotel with a comfortable bed and can afford to do so. It’s the same with renting a house and house sharing. Why cram into a small short-term place when you can afford to live somewhere better?

I have also recently seen people saying that their particular house share has a cleaner every couple of weeks. That’s another advantage of sharing with others who would like a touch of comfort.

Live in a mansion

The second, was a news story/PR release with the headline ‘Get a room in a mansion: Co-living trend comes to Louisiana’. It describes how you can get a  $1,000 (£750) a month room within the $1 million house. The house has just been purchased by a local entrepreneur and set-up as a co-living place specifically for over 55s.

Co-living in not a new idea anymore but targeting the over 55s hasn’t been the focus for most developers or landlords. Bespoke co-living developments like The Quarters are very much aimed at younger professionals.

Livly has also been offering large house shares in south London for some years, but those are also exclusively for young professionals.

Buddy-up with others to rent a big house

But why wait for developers to create such opportunities? It can take a bit longer sometimes to find the right people, but why not find one or two people locally and create your own house share?

You rent a house on a shorthold assured tenancy in joint names, as opposed to having your own lodger agreement, so it does involve a bit more commitment, but you might end up with a larger home and more space for the money.

This probably suits longer-term house shares, but if someone does decide to leave you’ll have a room in an attractive house share available to advertise on Cohabitas. There are plenty of people looking.

You will have to make sure the house has permisison for multiple-occupancy if more than 3 of you want to share, but if you are committed to creating a new house share for the longer term this is not a big obstacle.

This also reminded me of a story we featured a few years ago, about 3 friends buddying-up together to buy a house. They decided that sharing one larger home together was better than living separately, even though they saw each other regularly. Even after allowing for the financial savings this would offer, you can see the benefits in terms not only of social life, but also of being able to afford better amenities, a cleaner and more.

How to find a buddy-up?

When you register as a housemate looking for a room on Cohabitas, we ask you if you’d consider a buddy-up. Just tick the box and then when someone searches for that category of housemate, your listing will appear there, as well as in the ‘Find a room in a shared house’.

In fact we think buddy-ups will become more and more important as the supply of rooms in live-in landlord situations is limited, so we are highlighting this with a new menu link directly to Buddy-ups.

The process for ‘How it works’ would be slightly different than for finding a room in an existing home. First you need to find your housemates, then you need to find a suitable property together, then you need to sign a joint tenancy agreement.

We’re always looking for ways to help you find more opportunities and alternatives for house sharing in later life, so we’ll certainly be focusing on this.

Claudia’s idea of shared living