Has anyone ever lived with roommates?

[bob246810]

Any chance you could share your experience? Horror stories, tips, advice, etc.

I've never done the roommate thing, but living by myself in my own PPOR, it seems to be a potential option (ie. as a backup source of income, in case I lose my job and can't pay the mortgage).

I was browsing some of those roommate sites and people seem to be offering/demanding a lot for a room - as high as $200! That's about $10K a year, which seems a solid income boost for doing very little.

Had a look at the CGT issues and it doesn't seem to be too bad (although it still stings a bit).

It's not something I want to do right away, but every time I walk past the spare bedroom (and the empty living room), it feels like a lost opportunity to make some money.

 

[D.T.]

Ive had quite a few as I lived in a few "rent by the room " type places whilst saving up my house deposit.

I hated it. All of them. No horror stories as such so perhaps its a personality shortfall on my behalf? Id certainly want more than 10k to have someone else in my ppor.

Id much rather have a friend board a room than share with randoms again. Though getting a fifo may not be too bad.

 

[nhg]

Have spent seven years living with and without roommates.

Some people know how to live with others, some don't. Sometimes personalities just clash. It is luck of the draw.

I hated living alone, that said I lived out bush and didn't have much of an after work social life to balance it off.

I've had roommates which started off great and then quickly went down hill, I would hide in my room to avoid conflict, very different life views though we still catch up years later and share a good laugh. And others where we are now best mates.

My advice would be, have everything in writing, who does what and when. General house rules and sort out how to solve disputes before they happen.

It will be interesting if it is your own place. How anal will you be? More people = more mess. Will you be boarding or equally renting the house. You tend to forgive your own accidental damage more than others.

 

[ok180]

I remember one guy I used to work with lived in a share house terrace in the inner city. He had a drum kit in his room.

Imagine living with an idiot like that.

 

[macca446]

Any chance you could share your experience? Horror stories, tips, advice, etc.

I've never done the roommate thing, but living by myself in my own PPOR, it seems to be a potential option (ie. as a backup source of income, in case I lose my job and can't pay the mortgage).

I was browsing some of those roommate sites and people seem to be offering/demanding a lot for a room - as high as $200! That's about $10K a year, which seems a solid income boost for doing very little.

Had a look at the CGT issues and it doesn't seem to be too bad (although it still stings a bit).

It's not something I want to do right away, but every time I walk past the spare bedroom (and the empty living room), it feels like a lost opportunity to make some money.

My mother in law rents 2 of her spare rooms to give her some extra income has 2 unrelated middle aged people in those rooms ,she actually separated those rooms by the way of a door at end of hall,they have access to shared bathroom/shower and cooking facilities and she has had no problems at all over the last 12 months but it really is a personnel thing as you do have to learn to accommodate yourself to their needs as well she has very little interaction with them except only to get the rent but if you are alone or need income and this does not bother you go for it.
Macca446

 

[citystar]

Worked well for me when I was first starting my investment property journey and I needed to save for the initial deposits on my first two properties. Lived in a shared accommodation wth other professionals/full time workers as a tenant for a few years when I was fresh out of university. Then I rented a room in my first IP to speed up that second deposit. I was lucky and never had issues with anyone which was good. You don't have your own privacy but that's a compromise I was prepared to accept if it meant I could buy again sooner rather than later. Haven't lived in shared acommodation for several years now however looking back I would do it again without hesitating.

 

[lizzie]

I've shared with flatmates before, in my younger days, and would never do so again ... that being said ... I'm now an old fart who is set in their ways - and I think the problem was that we weren't very clear on the rules and we didn't keep everything (and I mean everything) separate.

Two major bones of contention were:

Flatmate would eat my food/use my products - but all his was labelled with "do not touch" warnings etc.

Flatmate would make lots of phone calls (pre mobile days) - but when the bill came, in my name, he denied knowledge any of the numbers.

I am sure he has some similar beefs about me - like when my dog chewed some of his books.

At the very least, I think they need to have their own cupboard/fridge, bathroom and tv in their bedroom.

 

[Michael_X]

I am living with two other roommates now. The unit is my parent's, so I get cheap accommodation and manage it for them, we get around $200 per room.

Is it something I want to continue doing, definitely not. Is it something that helps my investment journey, definitely

So I will continue doing this for the next little while.

 

[LoneWolf]

Any form of income is good, however, this will come with the inconvenience of living with other people under the same roof.
If you are the kind that don't mind that, then go for it

Personally, I have shared house in the past, and I will never do it again

 

[Scott No Mates]

I shared years ago, I moved to Brisvegas & left the +1 at home

The weekly commute was a downer (but lots of FF points).

I shacked up with a mate's brother so it worked out well for both of us - surprisingly (apart from his snoring which shook the whole building), we got along fine.

 

[Jamie M]

About 10 years ago I lived with 10 people in a London share house. It was an interesting time. Some of us would have friends/relatives sleep over too - so it wasn't uncommon to have a dozen people sleeping under the one roof.

It was a 3 bedroom terrace - well it was actually a 4 beddie because the landlord took the upstairs toilet out and rented out that space too

It was a fun experience during my twenties - couldn't do it for one night now.

Cheers

Jamie

 

[Doovalacky]

Done it for several years in an unfinished house. No carpets, lawn, paint etc.

Ended up with a separate fridge for myself, to stop/reduce food theft.
Bill time(division) was always fun, especially when you got some nob who ran a electric heater full blast 24/7.

There was some great times, and some bad times but in the end it did help me get ahead.

 

[INVSTOR]

I had one 19 years ago. He's still around, I guess I'm stuck with him now.

 

[geoffw]

I had one 19 years ago. He's still around, I guess I'm stuck with him now.

Yeah, I've shared a house with a lady for about 2 years now.

We had another two visitors for many years but they've moved out now.

Before that I was in group houses for many years. Most were good, only no to hassles.

 

[wylie]

Yeah, I've shared a house with a lady for about 2 years now.

We had another two visitors for many years but they've moved out now.

Before that I was in group houses for many years. Most were good, only no to hassles.

Only two years? That cannot be right?

 

[Mitch1]

Have done a few house shares, splitting bills and personalities come into it, but for the most part, all of them were ok. The best and weirdest one was a 5 bed house in bondi.
The name on the lease the whole time I was there was one woman, slightly older than anyone else. We referred to her as the house mother!

The 5th bedroom was called the backpackers bedroom as it was the smallest. (Mine)
The rent included a weekly cleaner and gardener along with basics for the house. Washing powder, hand soap, toilet rolls. Potatoes, garlic, butter, milk, teabags, and dish washing liquid and cleaning agent. If you didn't like those brands, you got your own. Each had a shelf in the fridge and we had 2 fridges due to amount of people. No couples allowed. Phone bill and power bill also included but house had no air con. International calls paid for by individuals.

We had a timetable for the bathroom on work mornings.

Surprisingly it ran like clockwork and everyone got on with each other and we often had social nights together along with communal house parties. I have never had a set up like this before but it was amazing. I am now married to one of those housemates, (he had the en suite!!) still see the house mother as we have remained friends for years. But it was all down to her, and she ran a very tight ship

 

[Fifth]

Yes, I hated it. I wouldn't do it again for 50k pa.

For some other personality types, it's a great gig.

 

[thatbum]

For some other personality types, it's a great gig.

I think it really turns on this, as well as the personality types of the people you live with. Its not surprising that most arrangements don't end up working out because it only takes one person to start "not getting along" with the others.

That said, I've been doing it since I moved out of home when I was 17, and still enjoying the share housing lifestyle 12 years later. I genuinely enjoy it on a social level, but its also has the a nice side effect of having much more disposable income to invest.

 

[willair]

Yeah, I've shared a house with a lady for about 2 years now.
.

Just wondering Geoff does your "Wife' read your posts..

 

[DavidMc]

I would say you'd make life a lot easier if you can identify the main things people argue about and mitigate them as best you could.

i.e.

1. Blowing the internet cap then being shaped for half a month - go an unlimited plan. Same same with telephone bills.
2. People not doing the cleaning - share the cost of a cleaner
etc.