Homeowners Turn To Homesharing To Save Costs, Ease Loneliness

Updated: Jun 28, 2019

Living on your own, there is no one waiting for you when you get home. For seniors, homesharing gives that protective presence.

Richard, who is in his nineties, is healthy and enjoys his independence. He loves his home and wants to stay there as long as possible. Since he lives alone, Richard was concerned about what would happen in an emergency, for example, if he were to fall. His children preferred that he moved to a retirement home for peace of mind, but Richard did not want to leave his home. Homesharing provides the best solution for a protective presence.

When Kayla bought her first home, she realized how expensive ownership can be. She had always lived in a shared space and felt a little isolated. Homesharing helps her with expenses and eases loneliness.

Richard and Kayla are among a growing number of Canadians who are home sharing. Different than renting out a room in your home, this concept involves sharing your whole home in order to save costs, improve your sense of security or ease isolation.

The interest in homesharing is not surprising when looking at rising rent costs and shrinking vacancy rates. As well, a report from the Ontario Real Estate Association showed that about 700,000 millennials will be looking for homes in the province over the next decade, while a 2017 report from the Canadian Centre for Economic Analysis found there are more than five million spare bedrooms in Ontario.

Homesharing helps with cost savings and companionship. Living on your own, there is no one waiting for you when you get home. For seniors, it gives that protective presence. If they have a fall, they know someone is around. It's also nice to have extra help to collaborate with on chores and have that sense of family.

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