First, that doesn’t solve the problem because then somebody else has two units in one building.
Second, downsize… from a four bed to a three bed? Not sure what sense that makes. Our needs won’t have changed dramatically.
Another piece that I didn’t mention is that I’m in the military, in a place with 3-year tours (so fairly temporary), and the young single people who arrive usually don’t wany anything too permanent, and are not in a position to buy. But I do know what their allowance for housing it, so I would be able to charge less than their allowance for housing, meaning they would get money out of the deal (and stuff is expensive here, so I’m not sure how they live anyway), and I get a respectful, reliable tenant (and we could offer home-cooked meals to whoever stays).
I know it’s a unique circumstance, and an exception hardly disproves the rule, but I don’t think “there’s no such thing as a good landlord” is a true blanket statement.
Downsize when you don’t need the space anymore? Would be my guess.
First, that doesn’t solve the problem because then somebody else has two units in one building.
Second, downsize… from a four bed to a three bed? Not sure what sense that makes. Our needs won’t have changed dramatically.
Another piece that I didn’t mention is that I’m in the military, in a place with 3-year tours (so fairly temporary), and the young single people who arrive usually don’t wany anything too permanent, and are not in a position to buy. But I do know what their allowance for housing it, so I would be able to charge less than their allowance for housing, meaning they would get money out of the deal (and stuff is expensive here, so I’m not sure how they live anyway), and I get a respectful, reliable tenant (and we could offer home-cooked meals to whoever stays).
I know it’s a unique circumstance, and an exception hardly disproves the rule, but I don’t think “there’s no such thing as a good landlord” is a true blanket statement.
A lot of kids move back after college. I definitely wouldn’t downsize until my family was secure and for sure no longer needed the space.
Now the question is it better to allow that space sit vacant or rent out the space.
I think there is a defensible position for renting out a temporarily unused space in your primary home versus buying vacant properties solely to rent.
Moving is kinda stressful though, but if you can manage that downsizing would probably be the right call.