Should you rent out your own home? Property expert Peter Koulizos gives his thoughts

first_imgMessy housemates are a common complaint in share houses.When it comes time to move out of home or change rental accommodation, one of the biggest considerations is to whether to live alone or to share with housemates. Strong arguments can be made for both and it comes down to the lifestyle you want to have. Here are some points to keep in mind:RELATED:>>What you should know before buying a Strata property>>Market wrap: How Townsville property is performing>>Market insight with Townsville REIQ Zone Chair Damien KeyesPrivacy or companyIn a share-house, the only privacy you will get is your own room. The kitchen, bathroom, dining and backyard are for everyone. If a chat while making dinner sounds enjoyable and sharing a clothesline isn’t a concern, having housemates might be a good option. On the other hand, if hosting your own dinner parties and having a private bathroom sounds more appealing, renting a property on your own might be more suitable.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Saving or spendingIf saving money is the goal, a share house generally presents as the better option. Usually rent per room is cheaper than rent for a one bedroom or even a studio apartment. Savings also filter down to bills because three people don’t use three times as much electricity as one person and unlimited internet costs the same for one person as it does for four people. Also keep in mind that moving into an established share house usually means that items such as a fridge, washing machine and couch are already there. This can be great if you have just shifted out of home and don’t have any furniture. However, this can be a problem for you if you already own these items because there won’t be anywhere to put them.CLICK here for the latest Townsville property newsLong term or short term If moving interstate or overseas is on the cards, a share house would be the simpler option. Subleasing a room can be a fantastic shorter-term alternative to signing a one-year lease. Obviously giving notice is still required but it is typically easier to come and go from a sublease situation in a share house than it is to break a lease. If you are looking at setting up for the long term, a secure lease through a real estate agency may be the preferred option.Early bird or night owlIf going to bed at 3am and sleeping in until 12pm is your weekend schedule, that may be hard to keep up if other housemates wake up at 7am and use a blender for their pre-workout protein shake. It might not sound significant but if schedules between housemates vary significantly, it can lead to issues on both sides. Make sure to ask any potential housemates if they are party animals or shift workers!last_img

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