Getting on that first rung on the property ladder is getting more difficult for young people and families, so why not consider living with other family members while you’re saving cash for the deposit on your new home? This can be challenging for both parties but, with a little communication and a long time plan, it can work. Here are a few tips that might help.
Make a plan for the future
It is important to have a timeframe or goal as living with family indefinitely will be hard on both parties. If you are living with a partner, make sure you both agree with the new living arrangements because if one of you is not happy it will cause extra stress or resentment.
Set up boundaries
If there are ‘house rules’ make sure everyone understands and respects them. Your family member is doing you a huge favour so it’s important to be sensitive to their wishes. It is advisable to have an area that is your personal space so you can get away from it all and have some quiet time if the need arises. It also gives the family member time to breathe!
Know what to expect
When you’re sharing a living space, it goes without saying that you will have to do your share of the housework, cooking and other chores. If you ask questions in the beginning about what is expected, then things will run more smoothly. Establish in advance whether you are expected to pay rent, take a turn at cooking, purchase groceries, etc, to establish a smooth running household.
Communicate openly and honestly
If you have a concern, talk it out! Open and honest communication is the key to a good relationship with your in-laws. Don’t let grievances stew or fester. The longer it continues, the more likely one of you is to erupt and start an argument. It is much better to solve differences before they become a big issue.
Prioritise
If you are living with family to save money for a deposit or pay off an existing debt then you need to be focused on that goal. If you are just freeing up money so you can go on holiday or buy the latest gadgets then your relatives are going to get frustrated with you. You might think it’s none of their business what you do with your money, but it is if they’re waiting for you to accumulate enough money to move out again.
Show gratitude often
Your family member is really helping you out by letting you stay so it’s important to show that you appreciate it. It can be easy to focus on faults when living in close proximity but concentrating on the positives will help you all get along better.
And finally …
Sharing a home with family can be a really positive experience! You’ll get to spend quality time with each other and, if you have children, there is the added benefit of having reliable and trustworthy babysitters to hand (as long as they are willing!). You’ll have the opportunity to get closer as a family and maybe even iron out any misunderstandings, too. At the end of it all, you will have saved enough to look for your new home.
Make sure your home buying experience goes as well as your home sharing one – don’t forget to get a home buyers report or survey done by your local Chartered Surveyor on any property you wish to purchase.
ME/SH