this post was submitted on 27 Jul 2025
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Okay, I'll bite. I just bought a 4-bed/3-bath (actually 4 bathrooms, but bathroom math made it "3-bath") because we are a family of four in an expensive tourist spot and wanted a guest bedroom for family and visitors. It just so happened one bed and a 3/4 bathroom is in an attached 1-bedroom apartment with its own kitchen and living room.
So when I retire, and my oldest is out of the house to college, we are thinking we could rent that particular part (at a very reasonable rate to people we know). It is part of the house, so I can't sell it separately. So the choice is be a landlord, or don't offer housing (I suppose I could make it an AirBnB and make even more money, but this area is already fucked for housing for that reason).
So if there is no such thing as a good landlord, what would you recommend in a situation like this? Let someone live there for free? Then they'd be costing me money. Don't rent it out? AirBnB?
If you don't need that space, then you might as well sell it and let another family make use of it instead.
Yours is not a unique situation; a lot of older people downsize when their kids move out, and they have a lot of extra rooms and space they no longer need. Its the right decision anyway, as you're now free to be more mobile, and get rid of all the years of accumulated junk.
Sure you can argue they dont need that space, but a lot of kids return after college. If I had kids I'd only downsize once they are well established. It's about ensuring the security of your family and ensuring they have a place to come back to.
Is it better to let that sit space vacant for 4+ years though?
There are two options? Rent it for profit or leave it empty?
Is there a third option? It's an unused room in a house that's being used.
They can rent it out, leave it out, or sell their house and downsize but then what if their oldest is out of work and can't find a new job and has to come home, but now because they downsized there's no room for them. How does that help? It seems like there are only two valid options unless I'm missing something.
In this case I understand not downsizing until your kids are established with a job/place to live.
Depending on equity and their mortgage payment it may not even be possible to downsize without paying more per month. That's the insanity of the current market.
Remember this is an occupied family home with an unoccupied room. Not a whole property.
What would you suggest?