A Twist on the Sharing Economy: What Is Homesharing?

Posted by Margaret-Ann Burness on Oct 21, 2017 10:38:34 AM
Margaret-Ann Burness


In recent years, there’s been a lot conversation about the sharing economy. So, what is it exactly?


If you look up the definition on the internet, you’ll find answers like “the sharing economy is a socio-economic ecosystem built on the sharing of human, physical and intellectual resources.” In other words, it’s all about sharing stuff – cars, homes, clothing, space and so on, and in most cases, it’s also about earning a little extra cash, too.  


Probably the best example of the sharing economy is “ride sharing.” Both Uber and Lyft paved the way of this new economy.  Now, everyone from executives at the airport to moms heading out for girls’ night, are catching rides in the backseat of a stranger’s car.


Ride sharing, however, is just the tip of the iceberg.  Today, we share everything from ball gowns to vacation homes to storefronts on Etsy.


And sharing isn’t just for the young.  Adults over 50 are getting into the game, too. In fact, many are opening up their homes and sharing space – like their unused basements, kids’ rooms, and guest rooms.  


What Is Homesharing?

In the same vein as the Golden Girls, Friends, and Grace & Frankie, older adults are finding that living together just makes a lot of sense.


With all of us living longer and many of us saving less, boomers and empty nesters are leveraging their home to supplement their income simply by renting out their spare rooms. Not only are they able to earn as much as $750 a month in rent, they’re also helping their housemates save on living expenses. And both homeowners and the housemates are benefiting from the human contact. Studies show that living alone can be detrimental to your health. One study by AARP states that living alone after 50 is the equivalent to smoking 15 cigarettes a day in terms of impact on your health.


Beyond the financial and health benefits, there’s also the added security for everyone involved. Homeowners value the security of having another person in the house and adult children relish the peace-of-mind that there is someone else there if their mom or dad needs help – just like Grace & Frankie, these roommates are looking out for one another.


It’s also not all about money. Some are trading services or chores for rent – like mowing the lawn, cooking meals or rides to the grocery store.


And where are they finding their housemates? Much like ride sharing, there are websites for house sharing.  The most notable for older adults is Silvernest, a roommate matching platform specifically designed for boomers and empty nesters. With a complete set of built-in tools, homeowners are able to list their room for rent and get matched with compatible housemates and vice versa.


Beyond their matching system that drills down into some fundamental space-sharing questions, the service also offers resources like ID verification, background screening, electronic rent payments and lease generation – making sharing your home super easy and Silvernest a one-stop-shop.  


To learn more about sharing your home or to find a house share, visit www.Silvernest.com.  


Learn more and sign up


Tags: Homesharing