Monday, September 29, 2008

Considering taking on a roommate

we have an extra room in our house that we don't use for anything. It is just there with a deflated air mattress from when my cousin and his wife came to stay with us. So I was thinking why not rent it out for like 500-600 a month including utilities. Essentially this will allow us to live mortgage free for about six months- a year and save money for this wedding that is coming up. Saving about 3600.00 in six months is a very good, but saving $7200 in a year is excllent. What do you think, would you rent out a room in your house for some extra income?


Small Budget, Big Style Chick said...

If I were saving for a specific goal like you are, I would consider it. Just be very careful with screening potential roommates and it might not work if you'd have to share a bathroom with a stranger...Perhaps you can find a responsible graduate student or someone else who just needs housing temporarily? Good luck with your decision!

Ms. High Maintenance said...

Hmmm....this is a hard question. I have a hard enough time living with my husband and our kids!!! LOL. I am just very picky about the things in my home and I don't know if I could take someone else living in my space as well. However, if you do get a roommate, I would suggest a student as well. You know they won't be there forever and when you have saved up enough money for the wedding, the roommate can go. How is the landlord situation going, YBP?

YBP said...

the landlord situation is going good... thanks for asking.. they are staying and the mom went back to florida. We lowered the rent to $700.00 for them, and they seem pretty happy. In fact they paid the rent today, I have been so busy I forgot it was the first of the month. It is a bit stressful being a landlord but its not that bad. In fact, I have an itch to buy another one next summer!