Thursday, September 9, 2010

Income Property

This HGTV show has become a little addiction for me while I'm on my maternity leave. Thick-eyebrowed, long-haired Scott comes to the rescue of homeowners who bought homes with spaces capable of becoming rental suites in their home. Typically basement apartments or triplexes. He then draws out two options for the homeowners, explaining the return on investment for each. I've seen renovation options range from 5k all the way to 50k. And when he's done, and they've staged the space for prospective tenant viewings, it's always ridiculously posh and probably looks better than the main living space.
How great would that be, to have an apartment be part of your home that adds value AND pays your mortgage?! I've always found real estate and being a land lord to be fascinating but overwhelming since all I know about it, I learned from HGTV LOL I have a mom friend in Atlanta that seems to have the most interesting job, buying homes, renovating, building homes, renting, selling. It makes me wish I was still 17 and could spend a summer shadowing her, just learning everything, in a practical environment.
When it comes to our house, I already feel influenced not as much by my own personal taste, but what adds value to the home and would make it a great rental property. Who knows though if when we outgrow this house we'd be able to keep it...

1 comment:

  1. :-D Not as glamorous as they make it look. Like when your tenants aren't paying their rent. LOL.