Timeline for Buying a house to partially rent out - what to consider?
Current License: CC BY-SA 3.0
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| Mar 16, 2016 at 7:35 | history | edited | Dheer | CC BY-SA 3.0 |
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| Mar 11, 2016 at 22:38 | comment | added | user11599 | Note that if you have more than one or two roommates in your house, you might have to pay extra on your homeowners insurance (on the other hand, you might then be eligible for extra insurance payout to make up for lost rental income if the house burns down...) | |
| Mar 11, 2016 at 20:23 | history | edited | DukeLuke | CC BY-SA 3.0 |
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| Mar 11, 2016 at 16:59 | history | edited | DukeLuke | CC BY-SA 3.0 |
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| Mar 11, 2016 at 16:56 | comment | added | DukeLuke | Like I said, each room is different. I would be mad if I were charged the same amount as one of my roommates, but he had a larger room and private bathroom. I personally rent and have my own bathroom, but I pay ~$70 more/mo than my roommates. My landlord also lives with me. | |
| Mar 11, 2016 at 16:54 | comment | added | GoldenBunny | I should have been more clear - I am planning to buy a house primarily as a place for me to live. The renters would just rent any unused rooms, so it's not technically a "rental home". That being said, when considering profit/what to charge, should I take your 20-30% profit (from the cost of the total), and just divide that number by # of rooms, and charge about that per room rented? | |
| Mar 11, 2016 at 16:46 | history | answered | DukeLuke | CC BY-SA 3.0 |