Buying A House With The Intent Of Renting Rooms To Tenants

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Buying A House With The Intent Of Renting Rooms To Tenants

23 May 2017
 Categories: Real Estate, Blog

Are you ready to move into a house that is a sufficient enough size for starting a home business? The most ideal way to meet such a goal is to first determine the type of business that you intend on starting. For instance, if you are looking to start a home business that involves renting out rooms to tenants, you must be very strategic about the type of house that you invest in. It is wise to find the house with the expertise of a realtor, so visit an agency and ask for assistance when you are ready to begin the search. Below, you will learn about a few tips that should be considered when buying a house with the intent of renting rooms to tenants.

Opt for a House That Has Two Stories

If you intend on renting to tenants on a long-term basis, it is important to keep your privacy in mind. You don't want to always feel as though there are strangers around if you'll also be living in the house. When you speak to a realtor about your needs, tell him or her that you are specifically searching for a house that has at least two stories. The reason why is because you can use the rooms that are upstairs as rentals, and a room downstairs can be your private space. Just let the realtor know that you desire the master bedroom to be located downstairs.

Ask a Realtor to Include a Guesthouse on the List

Another option to consider when buying your house is to find one that includes a guesthouse. A guesthouse will allow you to rent rooms to tenants without them actually being inside of your private living space. Specify the number of rooms that you want the guesthouse to have when you visit a real estate agency. You can also consider renting rooms inside of your house out at a discount, while charging more money for a tenant to rent out the guesthouse. The guesthouse will give tenants their own private space, which might lead to you keeping it booked on a regular basis for maximum income potential.

Make Sure There Are Plenty of Bathrooms

Purchasing a house that has an insufficient number of bathrooms is not ideal for the purpose of renting rooms to tenants. You must keep in mind that many people will likely want access to a private bathroom during the time that they are renting from you. Simply tell a realtor to only show you houses that include bathrooms in all of the bedrooms.