Hello, ladies! We recently explored the idea of a “Golden Girls” style retirement. But what if you love the idea of living near your friends but still crave your own space? If the thought of sharing your living room (and bathroom!) has you feeling less than enthused, consider this alternative: investing in a multi-unit apartment building for your retirement.

Just like buying that perfect cardigan in every color, investing in a multi-unit property allows you to enjoy the best of both worlds. You’ll have the companionship and security of living near friends, while still maintaining your own private living space.

Here’s how it works. Multi-unit properties, like duplexes or apartment buildings, are made up of separate housing units, each with their own entrances, kitchens, and bathrooms. Everyone has their own personal space, but you’re all still under one roof – or at least in one building.

One of the biggest advantages of this setup is the balance it strikes between independence and community. You can enjoy dinner together, then retreat to your own living rooms for a little relaxation and personal space. Need a cup of sugar? It’s just a quick trip downstairs. But need some solitude? Your own personal sanctuary is just as close.

Financially, this arrangement has advantages, too. While the initial investment may be more significant than a single-family home, the costs can be split among you and your friends. And just like with a shared home, expenses like utilities and maintenance can also be divided.

Renting out any additional units could provide passive income as well, helping to offset the cost of the property and even supplementing your retirement savings. It’s like finding a surprise twenty-dollar bill in the pocket of your favorite jeans – always welcome!

Of course, this sort of arrangement requires careful planning and clear communication. You and your friends should agree upfront on how expenses will be split, how potential conflicts will be resolved, and how to handle potential changes in the living arrangement.

Owning a multi-unit property might not be the traditional route, but we’ve never been ones to follow the crowd. As Gen-X women, we’re writing our own rules for what retirement can look like, embracing new possibilities and looking forward to the golden years with excitement and confidence. Because we’re not just aging, we’re aging awesomely. Here’s to us!