Margaret Rome's Blog

head_left_image

Share That House

Have you thought about sharing a home? Have you thought about a home for multi-generations? 

Why?

There might be many reasons such as the rapid rate of retiring baby boomers, boomerang kids, world or business travelers who don't want to leave their home vacant, college children, or seniors who want to stay and age in place in the home they love. 

Grandparents move in to look after their grandchildren; an older relative may move in to be cared for to eliminate the expense of retirement communities or nursing homes or a young adult child moves home after college or a divorce.

 

 

Sharing a home with friends, or colleagues, or those who may travel together has brought the extended family concept into focus. Some people are looking to live in a nice home in a good neighborhood that sharing a home would make it possible. Sharing the house expenses makes good sense. 

 

These same homes that are good for multi-generations would work for co-ownership. And you don't need to be related to share a home.

 

Here are a few properties in different styles, different neighborhoods, and different price ranges that could be shared, co-owned, or even rented depending on the situation.

Check out each one:

 

25 Highfield Court 21030

 

8978 Furrow Ave 20142

 

 2911 Montebello Terrace 21214

 

315 Northlands Court 21078

 

8511 Arborwood Rd 21208

 

 

Are you thinking about sharing a home?

Let's talk about it, call Margaret Rome

 

Margaret Rome

 Search All Active Listings

 

Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

signature

 

 

Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 
Comment balloon 24 commentsMargaret Rome, Baltimore Maryland • November 23 2019 10:10PM

Comments

Debb Janes EcoBroker and Bernie Stea JD  are the masters of Multi-Generational Homes, been doing it for longer than I care to remember:)Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 16 days ago

Endre Barath, Jr. Thanks for the reminder. I was planning on mentioning them tomorrow on my radio show.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

Morning Margaret.

I looked at all of them, the two that I liked was Furrow and Arborwood.  Furrow for the kitchen and Arborwood because it wasn't a two story

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 16 days ago

Good morning Margaret. Have not given it a second thought over the years. Then again, never say never! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 16 days ago

Good morning, Margaret Rome, Baltimore Maryland there are many advantages of multi-generational homes....it's a great way for family members to take care of each other....

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) 16 days ago

I would try and call in today as this topic is so near and dear to my heart. However, my son, daughter-in-law, and 3 grandkids are here today and we have places to go. Including the new Frozen 2 movie. :) I can tell you approximately 30% of our sales are multigen homes. Most often boomers moving in with a son/daugher family with young kids. Although, like our situation, we also see boomers taking care of their parents, one or both. I'm also seeing single women, such as mom and daughter sharing a house. The bottom line, we find privacy to be a big issue, ensuring each generation has plenty of space is so critical. The other thing we did, and always recommend, hammer out an agreement prior to moving in together. The what-if list. We also went to an estate planning attorney to help us cover the legal what-ifs.  

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 16 days ago

Hello Margaret - as thoughts and situations continue to evolve about housing, opportunities seem to occur.  Imagination matters.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 16 days ago

James Dray And you picked two favorites of mine!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

Wayne Martin Like you, many of us never consider this option. 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

Barbara Todaro It is a great way for families to take care of each other but we can expand that to good friends also.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

When we think of multi gen , we think Debb Janes EcoBroker and Bernie Stea JD 

  I will be mentioning you on the show today. Enjoy the family and all the kids and grandkids!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago
  1. Always good to hear from you and so true..."Imagination matters." Michael Jacobs 
Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

Hi Margaret,
I think this is a subject that will get more attention as time goes by. Multiple generations used to live together more and I think we may see a shift back to that. We already are.  Oh how wonderful it would have been if Debb Janes EcoBroker and Bernie Stea JD could have called into your show today!

Several widow friends and I have talked about a Golden Girls type house. A pre-move agreement and "what if" outline, as Debb mentioned, is critical. 

In the past, I have been one to encourage co-ownership. As prices continue to increase this may become more of a necessity than an option.

Posted by Carol Williams, Retired Agent / Broker / Property Manager (Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.) 16 days ago

Good morning Margaret. I think this is a viable idea for many. It is always worth considering. Nicely done.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 16 days ago

Carol Williams Leaving for the station right now...but I will be mentioning your comment on the air. Thank you!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

BTW: May I suggest you and Debb Janes EcoBroker and Bernie Stea JD coordinate a day that she CAN call in. What a great conversation that would be. 

Posted by Carol Williams, Retired Agent / Broker / Property Manager (Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.) 16 days ago

Carol Williams Good idea!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

Thank you Sheila Anderson Hoping that more people recognize and think about this option. 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 16 days ago

I've only shared a home for fairly brief periods of time.  When I was a young bride, we went through a few years, where we lot both our parents, and a couple grandparents.  Twice we had ailing parents live with us, while I acted as mother to my children, and nurse to a parent.  When I look back, even with the difficult time of juggling responsibilities, there was so much warmth and fond memories built.  Would I do it all over again?  You becha!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 16 days ago

Margaret= I love the idea of home sharing. Our old home when I was growing up had a garage apartment. When my mother was older and living on her own, my sister-in-law's younger sister, who had just graduated from college lived in the garage apartment rent free. We liked that she was there to keep an eye on my mother. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 16 days ago

Myrl Jeffcoat  Those of us who have done this would feel like you.

"When I look back, even with the difficult time of juggling responsibilities, there was so much warmth and fond memories built.  Would I do it all over again?  You betcha!"

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 15 days ago

Kathy Streib Your were ahead of your time. That garage apartment would now be considered a multi-gen home. 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 15 days ago

To share a home takes big hearts and the happiness that follows is joy and love. 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) 15 days ago

Patricia Feager, MBA, CRS, GRI,MRP  

Beautifully said! 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 15 days ago

Participate