As a college student in NYC, surprisingly, I’ve never really had a roommate before but always wanted to try it! I kinda did in sleep-away camp but it didn’t feel real since rent wasn’t on our minds during summers in middle school.
Since freshman year, Zoom school plunged us into remote learning, and ever since ~Sept 2021 I’ve been commuting from home. Fortunately, as a preferred saver over spender, this overall lifestyle works best for my personality and coincidentally finances too!
My generation, Gen Z currently at the median age of 20–24, are most likely to live with one or two roommates while working adults have more flexibility in who they choose to live with thanks to a more grounded financial cushion they’ve built beneath them. The main reason to live with a roommate are related to finances.
For obvious reasons at this point in twenty-somethings’ lives, having a roommate makes the most sense. The most common reasons include sharing a college dorm and when starting their careers splitting the space helps save on rent, especially in high-cost coastal cities where it takes a dominant share of their income, helps build their economic moat, a.k.a net-worth, and pay down any lingering debt in the meantime.
Since it’s recommended to not spend more than 30% of your take-home-pay on housing expenses, having a roommate is by far the easiest way to cut down on living expenses that probably won’t hurt and instead could possibly improve your life for the better, as long as you get along!
Most of the time you don’t need that extra space in the basement anyways so might as well rent it out or share it for some extra change!
Changing Spaces
Roommates aren’t only a popular way to save on housing expenses as rents are soaring but a generation a bit older, and most likely wiser, is also tapping into the roommate trend nowadays for a different reason — for more company.
Nowadays, due to rising costs and arguably the need for more togetherness across the nation, people over 50 are moving in with roommates at a record pace. Being able to live with someone, especially a stranger, offers tremendous practice for your personality and EQ to be able to deal with a future partner, be accommodative, flexible, and overall, know how to share basic things.
Getting along with anyone will make your life 10x easier and it’s never too early to start.
These basic skills in life such as sharing, being flexible, a good listener, etc. are taught in Kindergarten but ofentimes ignored past primary school.
Now that I think about it, having roommates the older one gets may actually make more sense on an emotional level than when you are younger, especially since most twenty-somethings I know are never home and always running around!
There’s absolutely no time to just chill with the cats at home and binge-watch White Lotus! These are our prime learning to earning years when our energy, effort, and potential are greatest.
We cannot afford to waist it on the couch!
When you’re in your fifties and above, you have a better sense of what brings you joy, hopefully, clearer boundaries, control over your schedule, and know what you need in life to make it easier for yourself. This usually starts with having someone to help you or just by your side in case you need a chat or don’t want to cook yourself.
Growing up in a Polish household, we always had our grandparents live nearby since they took care of me when my parents were at work for 12+ hours a day. As I got older into elementary and middle school, they lived with us for a bit since we thought it would not only be easier for them financially but mentally and emotionally as well and it surely did for all of us!
When you’re older, having someone by your side to help you out is vital, especially if you’re alone or not as physically capable as you once were only a few years ago. Loneliness can be destructive on the mind as well. Never forget about your mental state.
Having too many roommates in your twenties could get messy and may even have the opposite benefits you’re looking for such as peace, safety and or support if your roommates are the complete opposite of you.
It’s important to find someone who complements you nicely, follows similar habits, can help you out and actually be by your side not go to sleep when you wake up especially the older you get just in case you need a hand.
How To Determine If You Want and or Need A Roomate
Let’s say you got yourself a massive 1 bedroom, ~700 sq ft for you and your puppy, Luna in the heart of Manhattan. You’re paying ~$5,400k per month (including HOA fees, maintenance, 24/7 super, gym, etc) and looking to split the rent with someone. Plus you wouldn’t mind making a new friend 4 life!
Where do you possibly find people in a new city you’ve never explored?
Ironically, even with the age of social media, online dating, and ultimate connection at your fingertips, it can be harder than ever before to meet a trustworthy and reliable roomate. Your best bet is to always know a few people before you set sail to a new place just in case you get homesick and choose to stay with them in either the same or separate pad!
Now if you need to relocate for work or school and don’t have this option, your best bet besides checking out trusted roomate search websites or asking around is seeing if your building knows of anyone who may want to share a space with you. Your doorman may have some inside scoop.
Finding a roommate can be more difficult than ever before especially as remote work to record inflation have shifted our lifestyles.
But for older adults in their fifties and above, tapping into your previous network is key. We are far too lonely as a society; being able to make new memories and know someone has your back when you need it most is a priceless thing.
In most universities, as students get older, they can request a single unit on campus or move off campus. Here in NYC, around sophomore year, I find most students either rent or sublease an apartment across Manhattan with roommates that are friends from class. It doesn’t hurt to move around to build your connections first to secure a good roommate later on as well.
Although having your own space may sound like a fun perk, in the heart of the Big Apple, venturing out of the imaginary campus walls and finding roommates can keep you company and improve your overall lifestyle, especially if you’re new to the city.
If I were to request a single room, I would most likely get bored and lonely with myself after a while, even if I still wanted quiet time. No amount of empty space in a mansion will make me happy if I don’t have anyone to share it with!
There’s a tradeoff to everything, even alone time so choose wisely!
The grass always looks greener on the other side. Might as well save a bit more on that extra square footage and not even feel a difference!
Readers, what are your thoughts on having roommates into our older years? Are more remote workers at home or rising costs actually making it more difficult? Always appreciate your thoughts.