Boommates: A New Housing Trend for Older Adults

[Brian J Allen]

Do a Google search for "Boommates" and you'll find references to the Golden Girls TV show and discussions about two significant issues older people face: the high cost of housing and loneliness.

For younger people, we call this "house hacking," where someone buys a house and takes in roommates to help cover the costs. Most hope this is a temporary situation, expecting eventually to have their own spaces for themselves and their families. However, few realize that the high cost of housing and related expenses may bring them back to shared living arrangements in the future.

Is this a good thing for individuals and society? Should it be encouraged or frowned upon?

Consider my own situation: should my mom take in a roommate to help manage costs in her big house? Should she downsize? Unfortunately, factors beyond our control often dictate these decisions. Many older people have equity trapped in their homes or have low mortgage rates that make selling and moving difficult.

I think it’s wonderful that older adults have the option to share their homes. It can provide financial relief and combat loneliness, fostering a sense of community. The concept of "Boommates" would be an effective solution for many facing economic and social challenges.

Sharing housing can benefit individuals and society by making better use of existing homes and creating supportive living environments. It’s worth considering how we can encourage and support these arrangements to improve the quality of life for older adults.