Turning Your Home into a Shared Property

Turning Your Home into a Shared Property

As new figures reveal that more people over the age of 40 are now looking to share a property with people they don't know, how can you make your house more appealing? Adding a balcony to enjoy the socialising side or creating an exterior staircase could all be beneficial if you're looking to rent a room out.

Older Flat Shares

According to the room-search website Spareroom, there were around 60,000 people over the age of 40 who put an ad on the site last year looking for a flat share. That figure was up 20,000 on the past five years and shows a marked trend towards people sharing a property later in life.

There are a number of reasons why this generation is now either choosing or being forced into a flat-share situation. This could be due to a relationship breakdown, rising property prices or financial difficulties. With the increased cost of buying a house, people have to save up bigger deposits. However, rental costs are going up, making it harder for people to save a deposit in the first place.

Creating the Right Home

If you're thinking about renting a room out in your property, it can offer many advantages. For people who live on their own it can provide some much-needed company. It is also a good way of gaining some additional income to help pay the mortgage.

For homeowners who want to create a more social atmosphere in their property, installing a balcony could be the right approach. This is especially beneficial in city-centre properties, where outside space is fairly limited. The balcony can be used for relaxing, dining and entertaining or as a small garden. They can be customised to create a more bespoke structure with the addition of wrought iron railings, glass balustrades or stainless steel handrails.

Within the right property, there might also be a possibility of installing an exterior staircase to the spare room. This would provide a potential flat share with some degree of privacy, allowing them to come and go as they wish. An exterior staircase with wrought iron railings could add an attractive feature to the property. However, they would also have the ability to make use of the communal living facilities downstairs as well.

Whether you're looking for an older or younger housemate, they will all be looking for a relaxing and inviting environment to live in.