Home Sharing: Growing Trend or Desperate Need?

Many baby boomers want to age in their own home, but sometimes the economic realities of maintenance, the need for companionship and socialization, and even help around the house makes a more formal senior community more viable, reports U.S. News & World Report . Home sharing offers an alternative to senior living, whose costs can range from $2,500 monthly in an independent community to more than $100,000 annually in a skilled nursing community. The ideal situation is when the home sharer assists with specified tasks, with mutual support and companionship forming the core of home sharing. However, home sharing is not intended to replace formal home health caregivers. People considering home sharing should first consult with a local attorney to get an agreement drafted that outlines the expectations of both parties. The attorney and client should discuss including the ground rules in writing for the safety of both parties. Areas that might be in need of inclusion can refer to guests, kitchen use, parking, pets, privacy, TV/radio/phone and Internet use, and splitting expenses.