Thread replies: 16
Thread images: 1
Thread images: 1
File: ocdonutsteal.jpg (33KB, 527x497px) Image search:
[Google]
33KB, 527x497px
So I inherited a small house from my great aunt which I've been living in for 3 years while working as a wageslave. It's pretty old and shitty but I've put some work into it and I feel like it has all the basics a single person could need. My standards aren't too high but I honestly wouldnt mind living here for the rest of my life If I had to.
As time goes by I've been realizing how valuable time is and I would much rather have very little money and plenty of time(so not working 9 to 5) than working a lot and have a better income. So basically what I want from life isnt to get rich but just to have enough to get by without having to wageslave so I can have time to dedicate to my interests/hobbies(which require little money)
On that note I've thinking about the possibility of converting a small structure I have in the backyard (it's kinda like a garage or a cuckshed) into a sort of a tiny house that I could live in while renting the main house. It's kind of hard to explain the layout of the land so look at the picture, as you can see, as long as I build a wall + gate between the structures it would pretty much allow for it all to feel like two neighbouring houses rather than a shared place. Not even the outside would be shared except for the mailbox and there would have to be the splitting of bills, but besides that both me and the tenant would have complete autonomy.
So yeah /biz/, how much of a terrible idea would this be? I'm located in small town so it's not like there's high demand for housing(but there are other old houses being rented to young adults) and since the house isnt that great it's not like I could pull much money from this, but according to my budget it would be enough to get by and I could potentially supplement my income with some online work and perhaps seasonal jobs. Thoughts?
>>
>>1988196
Have you looked into the zoning classification of your property? You should check with the city/county if you're allowed to have multiple residences on the lot or if you're allowed to divide the lot into two separate residential lots. Have you budgeted what it would cost to build the new structure and get utilities and everything hooked up? It isn't necessarily a terrible idea, but you could also: (A) sell the house, buy a cheaper house and invest the leftover money, or (B) rent out the house and rent a house/apartment/room for less than the net rent you get from the house (after factoring in expenses/repairs/etc). Those two options might be easier for you.
>>
what country you in OP?
>>
>>1988405
thanks for replying
I was honestly thinking of avoiding the whole official residential lot separation so for legal purposes the place Id be staying in would still be just a shed and on paper I would just be sharing my main house with a tenant. The shed wouldn't even fit all the legal requirements to be qualified as its own residence anyway.
>Have you budgeted what it would cost to build the new structure and get utilities and everything hooked up?
yes, it's already hooked up with electricity/water and there would be very little actual building necessary.
>you could also: (A) sell the house, buy a cheaper house and invest the leftover money
I'm pretty sure I'd have an harder time finding a buyer than people to rent it to. I'm afraid I don't have the know how to invest so there's a lot of risk there. Despite it not being too valuable this is an asset I'd like to keep, it's a safety net I can always fall into if my life goes bad.
>(B) rent out the house and rent a house/apartment/room for less than the net rent you get from the house (after factoring in expenses/repairs/etc)
i've considered this but the margin of profit I would get from it wouldnt be enough to sustain myself without a steady wageslave job.
>>1988504
One of the not so good ones in europe. It's not too terrible but it's still not central/northern europe.
>>
>>1988196
Solid idea, just remember that tenants vary widely in quality. Be sure you have enough in savings in case they miss a few payments.
>>
>>1988626
thanks for the tip
if anyone has anything else to add please do. I'm not the smartest person so I just wanna make sure I'm not having tunnel vision that's keeping me from seeing something I should
>>
>>1988196
Pray you don't get bad renters.
>>
>>1989655
sure
good thing renters are replaceable tho
>>
You already know this is a good idea OP and you also hopefully know never to ever ever rent to niggers or spics and don't let niggers or spics near your house either ok?
>>
>>1990479
I was just second guessing myself to make sure I'm not overlooking any flaws to my idea
and one of the advantages of living on shittier 1st world countries is that you dont get that many spics/niggers
but thanks
>>
>>1990430
I someone in my family (by marriage) is a "slumlord"
Poor people suck, also poor people are bad renters because they have bad habits
>>
>>1988196
Would've been better if you inherited a great house from your small aunt.
>>
>>1988591
>One of the not so good ones in europe. It's not too terrible but it's still not central/northern europe.
Being American I would rather live in East Europe than anywhere in Central/North Europe
>>
>>
>>1988405
Tinyhouses won't be classified as a residence if you build them correctly. For instance, a mobile RV is livable, but not a residence.
>>
>>1992654
yeah but in my case it's not really a tiny house on wheels, just sort of a shed(made of brick, not wood) that was used to for storage
Thread posts: 16
Thread images: 1
Thread images: 1