How Home Sharing Works

Home sharing is a concept that aims to tackle two of the biggest issues facing the UK.

The first is one that very much impacts the younger generation – the issue of affordable housing. The second affects us all from time to time, and although it is mostly a challenge for the older generation, it is very much becoming more and more of a problem amongst other demographics – the issue of loneliness.

Here at Share My Home, we believe loneliness and unaffordable housing can be tackled with one simple, elegant solution – the concept of home sharing.

But how exactly does home sharing work? First, it’s useful to understand exactly why home sharing is so important in the current climate.

Why Do We Need Home Sharing to Work? 

Home sharing is designed to tackle two very distinct problems with one simple solution. The first, the lack of affordable housing for younger people, is growing year by year, particularly in cities such as London where graduates burdened with huge debts come looking for work and are forced to pay extortionate levels of rent just, to live within an hour of their workplace.

Although probably more prevalent in London than anywhere else it’s a widespread concern for huge amounts of young people, who are increasingly finding it impossible to save whilst paying high rent and losing hope of finally, one day, buying a place of their own.

When it comes to loneliness, the picture is particularly bleak. More than 3 million people over the age of 60 live alone, and 1 in 10 of those over 65 admit to feeling lonely most, or even all, of the time.

And with the Covid-19 pandemic striking in 2020, each of these challenges have been accelerated. Lockdowns have resulted in isolated people becoming even more isolated, a particular concern amongst elderly people who may struggle to look after themselves without support, and a growing one amongst younger people who have been stuck living alone, or with strangers.

It’s also left young people looking to gain financial independence in a recession, which results in a loss of aspirations amongst young people, with 38% of 16-24 year olds feeling as though ‘they will never succeed in life’.

How Does Home Sharing Work?

At its most basic level, home sharing brings together elderly people living alone in a comfortable house, often as a result of their partner passing away or their children moving to another part of the country, with younger people searching for an affordable place to live.

In return for offering basic support to the householder such as shopping, basic IT support or cleaning, a young person can live in a comfortable house in a convenient location without shelling out huge amounts of money.

An elderly person can live with the security of having support when they need it, and enjoy the company of someone they can establish a genuine human connection with.

At Share My Home, we work incredibly hard to ensure that both parties have the best chance of really enjoying each other’s company. This is thanks to the rigorous process we have in place at Share My Home, which works to guarantee a compatible fit, and eventually, a sincere friendship.

What is the Home Sharing Process?

For someone looking to apply for somewhere to live, often graduates or young people looking to find accommodation closer to where they work, the first step is to simply get in touch.

Once you have spoken to one of our consultants, there to support you and establish exactly what you’re looking for, we create a shortlist of householders who suit your criteria.

From here, you will choose someone suitable based on your routine, hobbies, interests etc. Be assured that each and every one of our householders have been vetted through a series of background checks and home inspections, in order to make sure they meet our safety and quality standards.

Both parties will then go through to the steps that help them get to know each other. Various interviews, a trial day and meetings with family members help to give the very best chance that the companions will get along.

For those looking to share their home, the process is much the same. Get in contact, help us understand your needs and your interests, and our 7 days a week support team will take care of finding you a suitable sharer.

Once everyone is happy for the home share to go ahead, the older individual will pay a monthly fee of £50, and the younger will provide 10-15 hours of support per week.

Of course, our team will be on hand to make sure your home sharing works smoothly.

What Are the Benefits of Home Sharing?

When home sharing works properly, younger people can enjoy saving, working in a career they love, paying reasonable rent and enjoying the fact that they are really giving something back to a local community, as well as enjoying good company and establishing a valuable human relationship.

For more elderly people, they can enjoy having someone to talk to in the evening, they can enjoy the security of having someone in the house if an accident should happen, they can have some of the burdens of day to day tasks lifted so that they can really enjoy life.

We often find with our home shares that the very best benefits are the little unexpected things. Returning from a long day of work to see the lights and the heating on. An evening of chess, listening to music or reading together in companionship. Spontaneous birthday barbecues for someone who might not have celebrated a birthday for years.

At Share My Home, we have had so much positive feedback and great stories that all go to show that it’s well worth the steps and the process we put in place. Because when home sharing works effectively, it can improve the lives of millions.