Income From A Short Term Rental In Your Home Can Make Housing More Affordable


Income From A Short Term Rental In Your Home Can Make Housing More Affordable
By Scott Rogers • October 19, 2022
Home prices are higher than they have been anytime in the past decade. Mortgage interest rates are higher than they have been anytime in the past decade. And, thus, for many buyers, housing costs (mortgage payments) are higher than they have been anytime in the past decade. What is a home buyer in 2022 to do given these high housing costs? One strategy being pursued by some home buyers is to look for a property where they have the possibility of generating additional income with some portion of their home. In most cases, these days, that is considering renting out some part of a home on a short term basis via AirBNB or otherwise. Sometimes it might be a basement efficiency apartment, sometimes a space over a garage, or any number of other configurations depending on the property. There certainly aren't enough properties for sale (in any given timeframe) that offer this extra income possibility to match the number of buyers who would have interest in the configuration - but when these properties do become available, they can offer a buyer the opportunity to offset their total housing costs. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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