The issue of affordable housing is nothing new to Denver in the past decade. As the purchase price of homes continues to increase, so do taxes. While this is a challenge for those of us in the work force, it can be devastating to Seniors who are on a fixed income. Recently at a Rosedale Harvard Gulch Neighborhood Association (RHGNA) meeting, I heard about an interesting solution for older people (55+) who own their own homes.
Sunshine Home Share Colorado is a non-profit organization that is designed to keep Seniors in their own homes and to provide affordable housing for those in need.
Basically it is a home share. Older home owners can offer a room in their home to someone who needs it for a set rent price and perhaps some house hold chores. One of the best parts of this specific program is that both home owner and renter go through a screening process. They are matched according to lifestyles and compatibility. There are social workers on staff that stay involved with each pairing and help trouble shoot any problems. This screening and oversight from the social worker would seem to protect both sides from any sort of abuses and helps the “roommates” to negotiate through potential conflicts.
The benefits to the older home owner: extra income, companionship and possible help with chores that may be more difficult for them to keep up with. There is also the chance to give back to someone who may need some financial assistance.
The benefit to the renter, is the availability of a much more affordable living situation. Most rentals are between $400 and $700 per month. There is also the opportunity to befriend an older person and to help build greater community.
As Denver tackles the need for affordable housing, I am glad to see creative solutions popping up. For more information feel free to visit: www.sunshinehomeshare.org
As always, if you have home buying or selling questions, we are here to help! Just give us a call.