Increased financial security, greater social connections, freedom to get up and go, and empowerment to stay in your home for longer are a few of the common reasons that homeowners choose to share their home. Right now, people are finding these benefits more important than ever before. As the pandemic has turned the way we live, interact and do business on its head, home sharing is an even more enticing option for homeowners. Here's why:
Social Health & Mental Health
Although the country is slowly opening up again, many are wary of how long it will last, as fear of a second wavecontinues to carry weight. Vulnerable populations who remain at high-risk are continuing to social distance and in some cases even to self-isolate, an act that studies are showing has many ramifications for mental health.
While staying at home with your nuclear family is one thing, isolating at home alone is something completely different. So, as the provinces begin to reopen for business, many Canadians are re-considering their existing living conditions. For those who have spent months alone at home, home sharing is a great option to ensure the social interaction and support that comes with having a house mate.
Financial Stability
As unemployment rates sored to a record 13.7% in May, many Canadians are finding themselves with tough financial decisions ahead. Home sharing is a great solution for those homeowners looking to make ends meet. Rather than having to defer mortgage payments (which is costly in the end) or even risk losing your house altogether, consider opening your home up to a housemate whose rent will contribute towards the mortgage and other household expenses.
Help Around the Home
With schools closed and children at home, working parents find themselves simultaneously juggling the responsibilities of work, childcare, education, and household responsibilities. For those parents who need extra support, a work-exchange home share arrangement can be an ideal solution for both homeowner and house mate. In a work exchange arrangement, rent is reduced or even eliminated in exchange for help around the home with specific jobs.
Whether that's cooking meals, a few hours of babysitting, or yard work is up to the homeowner and house mate. In our experience these types of home share arrangements work best when there's a real win-win for both parties and when the terms of the home share arrangement are clearly outlined in writing.
If you're rethinking your living arrangements, or worried about what you'll do if a second wave hits give us a call. At HomeShare Alliance our sole focus is home sharing and we have the tools and experience to guide you through the process so you can enjoy the many benefits of sharing your home.
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