Let Someone Else Pay Your Mortgage
Have you thought about sharing a home? Have you thought about a home for multi-generations?
Why?
There might be many reasons, such as the rapid rate of retiring baby boomers, boomerang kids, world or business travelers who don't want to leave their home vacant, college children, or seniors who want to stay and age in place in the home they love.
And now, with the Covid pandemic, families want to be together by having enough room for extended stays. They want to avoid hotels and rentals.
Grandparents move in to look after their grandchildren; an older relative may move in to be cared for to eliminate retirement communities' expense or nursing homes. A young adult child moves home after college or a divorce, now single with a family.
Sharing a home with friends, or colleagues, or those who may travel together has brought the extended family concept into focus.
You could live in a nice home in a good neighborhood that sharing a home would make it possible. Sharing the house expenses makes good sense.
These same homes that are good for multi-generations would work for co-ownership. And you don't need to be related to share a home.
Another situation; buy that big mansion in the area you want to be in. You don’t need to live in all of it. Think about dividing the home and renting. Are there spaces that have their own entrance, their own living space, outdoor space? Are there other bedrooms that could be owner suites with private baths and kitchen space?
Think about this. Buy that big expensive home that you’ve always dreamed about. Live in it for free! Yes, I did say free. If the home is right and you can rent a couple of areas, for sure, that could be enough to pay your mortgage and maybe have something left over for maintenance expenses.
If you want to know more about these special properties, let me know. Within the next month or two, I will have several of these homes available. Give me a call, and let's talk.
To find out more than one way to live in a home...
Call Margaret Rome
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