If you own a home and have an extra bedroom you aren’t using very much, renting it out to a compatible roommate can earn you an average of $8,000 per year in extra income. Think of what you could do with that extra money to help pay bills, do a home renovation, or take a much needed vacation.
Besides the substantial financial rewards, here are our top five benefits of having a housemate:
- Security. Many report simply having another adult in the house makes them feel safer.
- Support. It's so valuable to have someone to watch the house when you are gone. The plants get watered, the pipes don’t freeze and the mail is picked up!
- Pet care. If you are gone, a housemate can let the dog out, feed the cat, etc.
- Savings. Living alone can make cooking feel like a chore, and no one wants to eat a ton of leftovers. Sharing a few dinners with a roommate can cut costs and many start eating more well balanced meals.
- Presence. Having someone in the house is a godsend if you get sick with the flu, are recovering from a surgery or have a fall in the middle of the night.
On top of all these logistical benefits, having another person around can reduce feelings of loneliness and social isolation—which in turn improves health and prolongs life.
Learn more about homesharing and sign up at www.silvernest.com.