Rent a room and watch your money grow
Posted by admin in Housing
If your house is to big you have two options. Share it or down-size. Given the state of the housing market with many homes sitting unsold for months, a better option may be to rent a room or two.
While this isn't appealing to many people, there are major benefits: a regular rent check that can be used towards mortgage and utility bills, and, the extra benefit of having someone around. When you home is too big you are still paying for the extra space. You will still be paying property taxes on it, still having to maintain it, and invariably, you will still be paying to furnish it.
Putting the spare room to use gives someone a nice safe place to live, and helps pay the bills. Don't forget to write up a tenancy agreement and make sure you read and understand the rental act and legislation in your state.
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