Are you in need of a way to cut living expenses? Consider if you could save money living with grown-up kids or parents and if it is the right solution for you and your family.

My daughter had just graduated from high school. Although college was going to be significantly less than the cost of private high school, I was still facing financial uncertainty.

We were living in Puerto Rico and times were especially cruel. I was a single mother, and had been cutting back on everything from luxuries like having a boat to necessities like groceries to make ends meet and send my daughter off to school. It became harder and harder to find expenses to cut.

As I went over my budget, it was evident that living expenses were the most significant item. That is when the idea of getting a roommate first occurred. 

Living With Family vs. a Stranger

While the concept of sharing living expenses with someone seemed great, especially since there is no reason to have a whole house to myself, I was scared of bringing a stranger into my home.

Not only did I worry about my safety or my things going missing, but I also worried about the values and strange habits that my potential roommate would have.

It occurred to me that my single mother was in the same situation I was. Instead of getting a roommate, I moved into my mother’s house.

The Key to Making Multi-Generational Housing Work

All my friends thought I was crazy. I was almost 40 years old at the time and moving back home, but I did not move “back” home.

My mother and I became roommates.

We agreed on the rules of the house and shared expenses.

For instance, my mother did most of the cooking, but she could take the day off whenever she wanted. While she paid most of the bills, I took care of others. I also brought along my cleaning lady, and we shared other tasks, such as taking care of our dogs.

The Upside to Multi-Generational Housing

Neither of us had to worry about sharing a roof with a stranger, and we shared the same values. The best part was that I saved $500 a month in living expenses, compared to what I was spending before. In addition, I rented out my house and that income went to pay the mortgage, homeowner’s fees, taxes and insurance. Plus, I had a little left over each month, about $200.

For my mother, it meant having more disposable income and more financial security.

The Downside to Multi-Generational Housing

The downside is that I lived with my mother. Privacy was sometimes an issue. Also, I had to give up certain commodities like the en-suite bathroom and the freedom to make household decisions independently.

The secret is to have good, honest communication and bear in mind that the trade-off is great.

We decided on the rules before I moved in, and every once in a while, we went over the rules and modified them as needed. Even our relationship improved, and we had much more fun together than we used to have.

There was no point in having a whole house for just one person. The extra cash didn’t hurt either.

• The Benefits of Living With a Roommate At Any Age
• Comparing Retirement Housing Options
• How Would You Feel About Having a ‘Boom-Mate’?

Reviewed April 2024