A lot of kids move back after college. I definitely wouldn’t downsize until my family was secure and for sure no longer needed the space.
Now the question is it better to allow that space sit vacant or rent out the space.
I think there is a defensible position for renting out a temporarily unused space in your primary home versus buying vacant properties solely to rent.
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?
Not an apartment complex, but a building makes sense.
I’m not saying it’s just, but there are some loans that allow you to buy a quadplex but you have to live there. You are free to rent out the remaining units.
Yeah stealing from random people to “survive” is not okay.
This isn’t stealing food from a store this is taking money from everyday people’s trying to rent an apartment
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?