Post # 1
The Fiance and I have been tossing around the idea of getting a roomate to help save money, and help in paying off his student loans. We have a 3 bedroom 2 bath (including on suite master bath) and no kids. We also have an unfinished basement that we have our art studio, laundry and storage in, but we could build a temporary wall on the other side for a bedroom and small living area for someone to stay in. We have the space, the extra money would help out, and we’ve both had roomates before (as single people), but not since college.. We would only rent to someone who is financially stable and has a similar lifestyle to us – so not just anyone.
Thoughts? Is the extra income worth the stress? Should we do a formal lease/security deposit?
Post # 2
I personally wouldn’t do it, but my neighbor is right now. The roommate has been there 6 months and it was supposed to be temporary. I would DEFINITELY have them sign some sort of lease agreement!!!!!!!!!!!!!!! <– I feel pretty strongly about that. :-p
Post # 3
- Wedding: March 2014 - Chicago, IL
I think it depends on how much shared living space there will be. Shared kitchen?
Also, if your basement is unfinished, you’ll need to do a little more than just build a wall. You’ll need to carpet it, install lighting (run electrical to the room), buy a door (this can get expensive), dry wall and paint. I know because we’ve got a half finished basement and are working on finishing the other side. I wouldn’t dream of just telling someone to move in to an unfinished concrete basement and ask for rent on top of that.
Also, we own our own house and have been married for 2 years. My Brother-In-Law has been living with us since August, and I’m beyond over it. You don’t realize how much you will miss being able to take your pants off at home until you can’t do it anymore. Or just having the living room or office to ourselves. So, speaking from experience, it’s not worth it to me and I’d never do it again in a million years.
Post # 4
You 100% ABSOLUTELY need to do a formal lease and everything. ABSOLUTELY.
And no, honestly- I wouldn’t. I’d find ways to save $$ in other ways. I just cant picture someone being around constantly in our home.
Post # 5
Doesn’t seem like an unfinished basement is appropriate for a person to live in. its one thing to have a bedroom there, but unless you plan on this person sharing your living space full time, I would not do this. And Yes, never allow someone to move in without a lease. That’s asking for trouble. I’d consider whether you have space in your house not the basement, otherwise I don’t think this is the best plan.
Post # 6
if you really need the money then go for it, but if the extra money would just be nice, then i wouldn’t.
but it is your choice if you want to deal with a roommate. just make sure the ground rules are in place before signing the agreement so the renter knows what is expected of them.
Post # 7
I guess unfinished is the wrong term, its drywalled and painted, just doesn’t have flooring, but Fiance does construction, so we would build a wall and carpet the floor in the space for them to have a room and living area. We have a guest bathroom that would be theirs as we share our master bath..
Post # 8
I guess unfinished is the wrong term, its drywalled and painted, just doesn’t have flooring, but Fiance does construction, so we would build a wall and carpet the floor in the space for them to have a room and living area. We have a guest bathroom that would be theirs as we share our master bath.. but the kitchen would be shared.
I do like to walk around without pants.. something to consider – haha thanks!
Post # 9
DEFINITELY sign a lease or some other contract to make this official! If there’s one thing I’ve learned from watching daytime “court” TV, it’s that you need every single detail in writing, otherwise it’s your word against the roommate’s if something bad happens and that won’t hold up in court or other legal proceedings. I think getting a roommate is fine if you have the space for it and you get a chance to sort of interview the person first.
Post # 10
- Wedding: March 2014 - Chicago, IL
There’s honestly nothing I hate more than sharing a kitchen with a roommate. You don’t realize the types of things that drive you crazy until you have to live with it. I’m putting up with it w/ a family member, and I can’t imagine what it would be like w/ a stranger. Well, I guess I did have roommates in college… so yeah, I remember 😉 lol
If you’re only doing it so you can have a little extra money to put into savings, and you don’t need to do it to make ends meet, just don’t. It’s added a lot of unnecessary stress to my marriage since we end up fighting over our current living situation… a lot. Just don’t do it!