Housing always represents a big chunk of one’s household budget, and that isn’t likely to change in retirement. Fortunately the sharing economy has broadened our housing options to include nontraditional living arrangements that can be more affordable and accessible for retirees.
Some nontraditional housing options (some new, and some that have been around for a while):
– Room rentals
– Tiny houses
– Intergenerational co-ops
– Cluster living (individual apartments around common living areas)
– Homesharing
Have you considered or would you consider any of these housing options for yourself in retirement? Any advice for others?
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More on this topic:
Check out Carla Dearing’s blog post last week about investing in a multi-family home for the additional income in retirement. In it, Carla explains to a SUM180 member why choosing a residence for yourself that can also provide rental income in retirement is a smart idea – with specific caveats.
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