House-sitting offers financial benefits that might help reduce the high cost of housing, writes Peter Watson.
Owning or renting a house can be very expensive, so it is time to consider some creative options.
One idea is to be a house-sitter. Many people go away for the winter and summer. They do not want to leave their house empty, and they have several options.
The homeowner might want someone to live in their house, maintain the house and meet insurance requirements by not leaving it unattended for long periods. Keeping the exterior property maintained, whether you do it yourself or have others, like gardeners or a snow-clearing company do it, is important.
Perhaps the homeowner has a pet and that is an extra incentive for them to want someone living in their house. Maybe they just want to make sure their plants, inside and out, get watered. There are lots of things to be done in a house, whether the owner is there or not.
If you are a house-sitter, the largest hurdle you could face is going several months a year without being able to find a house.
Are there children or friends you could live with? Perhaps that temporary arrangement would be better versus living with family or friends full-time.
The good news is that there are lots of websites that post house-sitting opportunities from homeowners, so the trick is to monitor them closely and apply right away.
Perhaps you could also rent short-term housing while looking for your next house-sitting job. There are many options. The key to exploring the idea of house-sitting is flexibility.
You will have to search for opportunities, follow the homeowners’ preferences about your duties, and determine what is allowed.
In the spirit of flexibility, you could live with a senior to do light housekeeping and cooking or just be available if needed.
I hope these ideas help you think through your housing options. The goal is to find a situation that is of mutual benefit to you and the homeowner.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com.
