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Old 04-08-2015, 08:45 PM
 
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After retirement, has any homeowner moved from a single family to owning a multi-family home to help with expenses? If so, how was your experience?

Thanks,
Matt
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Old 04-08-2015, 09:19 PM
 
Location: Sacramento
13,784 posts, read 23,815,442 times
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My parents bought a duplex in Philly just a few years before my dad retired, and the experience was positive. The savings he had in his monthly expense gave him about half of his down payment on the retirement condo they eventually bought in Florida.

He had no problem with tenants nor having the place rented.
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Old 04-08-2015, 10:34 PM
 
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My great aunt bought a small apartment building. She lived in one unit, her daughter and grandson lived in one, and they rented out the others. It worked very well and after she died and it was sold, her daughter had a VERY large inheritance from it.
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Old 04-09-2015, 03:17 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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I added 'extra' / separate living qtrs to my main house.

I like having someone around to take care of the place and feed the animals when I travel.
The extra dough helps too. (In future I will barter for 'care' if I need it). I will probably move into 'smaller of the spaces'. (Each is ADA accessible).

I always keep 2+ living qtrs at each home (and / or buy the neighbor house). 30+ yrs of caregiving for a disabled parent, and seeing 'boomerang' kids (returning to parents) led me to this conclusion.

I also keep a set of double duplexes that are 'senior apartments'. (In case I have to move to town (unlikely).

I appreciate the 'expense write-off' of multiple rentals (be careful with this on main home! When / if you sell you will have to recover depreciation and exclude capital gain exclusion on the part of your home that is rented out). I use the term 'boarders'. (some shared space / services)

definition from 'down-under'.
Difference between a boarder, lodger and tenant - askUWA
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