U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 04-08-2015, 08:45 PM
130 posts, read 284,095 times
Reputation: 59


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?

Reply With Quote Quick reply to this message

Old 04-08-2015, 09:19 PM
Location: Sacramento
13,784 posts, read 23,815,442 times
Reputation: 6195
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.
Reply With Quote Quick reply to this message
Old 04-08-2015, 10:34 PM
6,835 posts, read 3,872,820 times
Reputation: 15592
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.
Reply With Quote Quick reply to this message
Old 04-09-2015, 03:17 AM
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,612 posts, read 39,986,663 times
Reputation: 23757
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
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top