Converting a Single Family house to a 2 Family...any thoughts?

[wMw]

Renting it out is an alternative. I would have to find a place for me to live at least for the winter. I do have a place to stay in Jefferson but the commute through Franconia Notch to my job in Lakeport could be a nightmare at times. I am meeting with a rental agent next week to discuss options...The division of the house would leave me with a place to live and have another to rent but it would cost to get it set up...walls, a 2nd kitchen, etc. Moving out and finding a small winter rental might be a good option for me if I could find the right tenant.

[ApS]

Originally Posted by wMw

"...Moving out and finding a small winter rental might be a good option for me if I could find the right tenant..."

"The right tenant" IS the problem. Your renters might eventually face the same situation you've got! (Though I think renting your place out is the best solution). Even with a wall, there can be excruciating times due to noise, drunkeness, "roommates"—well, just call it "incompatibility issues".

Assuming you're single?

A savvy sailor-friend who got divorced lived aboard a moored boat while his ex had the house.

He got to enjoy life at the mooring, even rowing out to the sailboat in the wind and rain for two years. Cooking was by alcohol stove, just like being at sea. Except for getting struck by jumping fish, the best part was being in the middle of Mother Nature's wonders. The worst problem was condensation that formed inside the hull when it got cold: moving to the marina's dock (and a small space heater) solved that for two Connecticut winters.

In the South, old cruisers are sometimes stored in rural back yards and wired and plumbed as rentals.

In that line of thought—and because US financial conditions could become extreme in the coming year—you might consider an inexpensive on-site camper for yourself and rent out the entire house to a family. Any on-site issues with the town might be overlooked due to difficulties faced by other residents experiencing even worse hardships.

A motor camper would allow you to stay overnights at/near your place of employment on occasions best for you, rather than the long commute north to Jefferson.

For the past ten years—after a few deadbeat renters—I started advertising rentals while demanding a full-year of rent in advance. (Reducing the rent as an incentive).

I got a couple of surprise tenants, including a 2-year lease with someone's "kept woman"!

[wMw]

Between having to get a new transmission in my car (Ughhh!) and being too busy at work, I haven't been online for a few days. Thanks for the many responses. Yes, lots to think about.

kjbathe...You are right! I shouldn't get involved in a plan that requires more spending...and your idea for me to ask my buyers for a smaller amount if they can't make the full monthly payment is a very good idea that I had not considered. I will present them with this option the next time we get together.

fatlazyless...I've never been a very good salesman...I always hated the door-to-door stuff they made us do in school. HeHeHe...of course the kids today don't have to do that. The mom's and dad's just take the stuff to work and try to get their co-workers to buy all those cookies and magazines. I did actually consider taking Charlene's course a few year's ago but decided I wouldn't be happy trying to sell, sell, sell. But I guess the commission on one of those mega-waterfront homes would be more than I make in a whole year at my current job.

Just Sold, RLW and Woodsy...My house would be an easy divide (assuming that I planned to include utilities in the rental portion to avoid splitting out the electric and the heat), just two walls about 5 ft wide. The main expense would be adding a 2nd kitchen. I did talk to someone in city hall a while back about this and was told that I could do this but I would need to get a variance. The house is on city water and sewer so there is no septic issue. I'm a bit intimidated by the rules and regulations because it is not clear to me what all the legal steps would be. I do realize that sometimes the different departments you have to deal with at city hall don't always seem to be working together.

Acres per Second...I am leaning towards the "Moving out and finding a small winter rental " option and renting out the whole house, even before talking to the rental agent. I have tried having housemates. It is hard to find someone that is a good fit. I did have good luck with some of the foreign students that came into the Weirs a few years ago. I didn't take any in last summer because I thought my house would sell and then they would have had to find another place to live.

I imagine you are assuming I'm single because if I weren't there should be another source of income coming into the house. Yup! A 2nd income would solve the problem, but I can't see getting married just to get the bills paid. That might bring some bigger headaches!! and I don't have a boat, but I love your camper idea.

Thank you all for your input.