I think I'm pretty set on living in my parents' house(s) when I retire. At least for the first few years, to boost savings. I'll plan to balance it by living abroad and living with friends for month to month periods. NO YEARLY LEASE!
+ lower, or no rent
+ parents won't be around forever, might be fun in doses
+ economy of scale
+ no lease, deposit, landlord, monthly payments
+ flexibility to move at leisure
+ helps your parents, and increases their enjoyment
- social stigma, this might be crippling for single males in the US
- might be awkward hosting friends (more stigma)
- free time might be harder to establish
- parents might judge your use of time
- parents might think you are lazy for valuing your life and not working to pay interest for the bulk of it
- might demand rent, yet offer none of the benefits of paying rent (like privacy)
Luckily my parents are very laid back and supportive of my retirement... Except maybe my Dad, who earned his federal pension!;) He is skeptical, but respects me. They have plenty of room, I am invited to live there whenever. They are satisfied to happy with the work I do when I'm at home. Letting me live rent free helped me immensely in college.
Even a few months out of the year could potentially save thousands. If you had a significant other maybe you could do split the time between parent sets.
My GF's parents are the opposite, however. They demanded rent, chores, food purchases and favors when my GF was in college... Would be a complete nightmare.
Anyone else considering living with their parents in retirement?