Baby Boomers who find themselves out of the workforce and unable to afford their own home have emerged as a new group increasingly at risk of homelessness.
People between 55 and 65, particularly women, are going from living comfortably to being poor, and that will have a very big impact over the next five years. Whether it is the loss of their job or loss of their spouse, finding a way to make ends meet is now priority.
With rentals in San Diego skyrocketing, choices are becoming slimmer. Shared living may be the answer for many. ONE ROOF LIVING.com locates homes large enough for unrelated people to maintain privacy yet continue to share the benefits of home ownership. Selling the home they can no longer afford to transfer those dollars to Tenants In Common situation may just be a way for Baby Boomers to maintain their accustomed lifestyle.
Tenants In Common Legal Definition: “Share a specified proportion of ownership rights in real property and upon the death of a tenant in common, that share is transferred to the estate of the deceased tenant.”
The Golden Girls as we all remember, shared a home in which only one gal was the owner. There are many shared ownership options, as well as simply being the sole owner who rents out spaces thus generating income, as well as companionship.
Finding homes that work well for a shared situation is what we do.
We can help. Contact us!