Childcare in exchange for renting a room?

[Ianthe]

I've heard of some people doing this, and I am considering it.. we are about to move into a 3 bedroom home in a new town while I go to school full time and DH will either be in graduate school or working a job (waiting to hear if he's been accepted). DS1 will be going to preschool 5 hours a day, and I just need childcare for my 1 yr old (he'll be one by the time school starts). I don't want to put him into a daycare even though I could probably get financial aid for it.

We will have an extra room, with it's own entrance and bathroom that I could rent out to someone who would be able to help out with childcare. The town that we are moving to is pretty much just a college town. Most young people who live there are students. I figure our room is worth about $400 a month, how much extra $$ should be offered for about 25 hrs a week of childcare? I can also include meals, and of course internet/utilities.

It would be better for us financially to do an exchange than be paying $500 a month for childcare.. we'll pretty much be living off grant money and what little money DH will be able to make on the side. I should probably add that DS1's preschool is $200 a month, but we will likely get s discounted rate for being low-income.

Suggestions? Advice?

[*MamaJen*]

I think that's a pretty common set-up in general. It sort of depends on the going rate and COL in your town, but I would probably offer something like room, board, utilities, and about $200-$300 monthly stipend. Even if the room is only $400, the utilities would be another $100 or so, and food would be what, at least $50 per week. If you consider $550 in room/bills, and about 100 hours of work per week, that would be $7.50 - $8.50 per hour. Some people may think that's too little, but I think it's reasonable for a student caring for one child in your own home. If the baby was sleeping, the student could be at their own desk studying, that sort of thing.

[One_Girl]

At the low end I think you should offer at least $2-3 an hour on top of rent. If you let someone with one child move in though you could probably just do the room thing.

[Drummer's Wife]

Good question! I've been thinking about this, too, for just next summer and the summer after that. I had looked into an au pair, since we have four kids - but the agency that offer summer only placements are too expensive, especially considering I only need about 20-25 hrs of childcare.

I was thinking a free room and food, and also trying to figure out an hourly rate. It seems ideal for a college student or someone with a part time job looking fir a place to live.

I just have to figure out if the money saved is worth having someone else live with us (temporarily). For some reason that just makes me feel a bit uncomfortable.

[Ianthe]

I posted an ad on craigslist for it and I've gotten A LOT of responses. Most young people in this town are just there for school, so it might work out that someone just needs room and board and a bit of spending money.

[Ianthe]

Originally Posted by One_Girl

At the low end I think you should offer at least $2-3 an hour on top of rent. If you let someone with one child move in though you could probably just do the room thing.

That's an interesting prospect.. so far most of the women who have contacted me are just young college students, but we'd certainly be open to someone with a child.