Has anyone here rented out rooms just to stay afloat? Worried about giving up my privacy.
I recently moved back home and I’m basically starting over in the childhood home I grew up in. The house had been sitting abandoned for years, so when I came back, there was a lot wrong with it and a lot that needed to be repaired. I’ve been slowly trying to bring it back to life and make it feel like a home again.
My boyfriend lives with me and has been helping me with the house, which I’m grateful for, but financially I’m struggling to make the repairs anywhere near as quickly as I’d like. Right now I’m only working part time, and I’ve been looking for something better, but there just doesn’t seem to be much around here that pays enough.
The weird part is that on paper I’m probably in a better position than a lot of people. The house is paid off, I have a paid-off truck, and I really don’t have many major bills. But my income is so low right now that I’m barely keeping the utilities paid, and I can’t even comfortably afford insurance on my truck. Then every time I get a little money ahead, the house needs something else.
The house has four bedrooms, so I’ve seriously been considering renting out the other two rooms. The extra income could make a huge difference. It could cover the utilities, let me insure my truck again, and actually give me some money to put toward fixing the house instead of constantly choosing which problem gets dealt with first.
What worries me is giving up my privacy and, more importantly, inviting the wrong person into my home. This isn’t an investment property to me. It’s my childhood home, and after everything it took to come back and start rebuilding it, I’m nervous about having strangers living here. A good roommate could make life dramatically easier, but a bad roommate could turn the one stable thing I have into another source of stress.
Has anyone here been in a similar situation where you had a house or extra rooms but didn’t really have the income to maintain everything on your own? Did renting rooms actually help you get ahead, or did the loss of privacy and roommate problems make it not worth it?
If you did it, I’d especially like to hear how you screened people and what you wish you had known beforehand. I’m trying to figure out whether renting the rooms is a smart way to use what I have or something I’m going to regret.