Thinking Of Getting A Roommate To Save On Housing Costs?

The Golden Girls were on to something. With costs for food, housing, and energy soaring, taking on a roommate — or two — doesn’t seem like such a bad idea.

Opening your home to roommates may seem overwhelming, especially if you’re used to living alone. But it can be a big money saver — not only is a portion of your rent or mortgage covered, you can split utilities, entertainment, and groceries.

Your roommate can also take on some chores around the house, and hopefully, become a companion offering emotional support. All of this sounds great on paper but to make it work, you need to focus on a few key details.

If getting a roommate seems right for your situation, consider these helpful tips from AARP Foundation.

Look For Someone You Get Along With

Begin by asking your friends and family if they know of anyone who might be interested in becoming your roommate. If you belong to a church, synagogue, or community center, they may also know organizations who provide roommate matching services for older adults in your area.

No matter who you live with, disagreements are bound to happen. That’s why it’s important to screen potential roommates to find out if you are compatible.

Knowing more about their lifestyle, level of activity, and personality can help you find out if you’re a good match. An introvert who values alone time and likes to turn in early may not be best suited for an extrovert who stays up all night.

Questions you should ask:

How often do you clean?
Have you ever had any difficulty paying the rent on time?
Do your friends or family come over often?
What’s your typical schedule?
Do you have pets?
What indoor temperature do you like best?
Do you smoke?
Do you have any hobbies?
Do you think we’d get along well?
Do you have references I can speak with?

Check Their Credit History

Few things cause tension faster than a roommate who doesn’t pay their fair share. Avoid living with someone who has a questionable financial history.

Running a background check can be a great way to get a sense of who your potential roommate is. It will set you back $50 to $100 but you’ll find out a treasure trove of information including:

Employment history
Criminal activity
Education
Driving record
Credit history
Social media

If you don’t feel comfortable checking the background of potential roommates there are matching services around the country focused on finding roommates for older adults.

The Ventura County Area Agency on Aging’s Homeshare Program is one example. This free service for qualified residents matches people to share in housing costs. Background checks and interviews are conducted for you to find your perfect match.

To find a service like this near you, Google “senior roommate matching in [my state].”

Set The Ground Rules

Once you find someone you like with a good financial background, you’re ready to make a roommate agreement, laying out all the terms of your living arrangement.

Spell out how the rent is split, who is responsible for cleaning, what utilities and expenses are being shared, and how groceries are handled. You may decide to split it down the middle or charge based on usage or size of the room.

Either way, put it in writing and have your roommate sign it. It’s also important to determine who pays the bills and how the money is shared. Having a roommate contract that you can refer to can prevent arguments from getting out of hand. If your roommate does decide to skip paying the rent you are still on the hook. But at least you have a document you can use to pursue legal action.

For older adults, it’s also important to consider how long the arrangement will last. Is it temporary or permanent? If it’s the latter, you have to factor in health care costs if you or your roommate gets sick or needs long-term care.

Is a roommate right for you?

At the end of the day knowing yourself is the best way to avoid any roommate turmoil in the future. Saving money is important but if sharing your home is going to drive you crazy it’s not worth it. Do some soul-searching to make sure you really want this before pursuing a roommate.