What’s the hottest trend in real estate? Here’s one you may not be hearing much about: Cash-strapped Millennials are looking for roommates.
Rising rents are a big reason behind this trend. In August 2016, the national median price to rent a two-bedroom apartment was $1,300 versus $1,120 for a single bedroom. Of course, prices vary by city and region. A place in San Francisco will cost far more than that, while an apartment in small-town America can be had at a fraction of that cost.
In any case, when you consider that the percentage of people who are living with a spouse or romantic partner is at an all-time low of 35 percent, it’s easy to see why roommates are an attractive option for this large, influential generation. If you look at the average rental price, you can enjoy savings of 40 percent or more. Plus, with a roommate, you can pool personal property like couches and televisions and share the costs of supplies and other expenses.
Before you get a roommate, it’s important to go into the search with your eyes wide open. After all, you’re about to intertwine your life with someone else’s, and it takes some foresight, empathy and ground rules to pull it off. The following posts will help you navigate each turn.
These posts will help you find and live with a roommate who will keep your home life the way you like it: peaceful and pleasant. Let’s get started.