I

Financial

(A)       Your tenant’s rent can pay your taxes and more.  The market rent for a one-bedroom, one bath, bright apartment in Pt. Jeff Station is at least $1,200 per month.  The taxes on our Aventura model are projected to be less than $12,000 per year (or $1,000 per month).

(B)       Alternatively, rent of $1,200 per month can be used to pay all or part of your mortgage payment.  At today’s rates (4-1/2% -- 30 years), the payment on a $236,831 mortgage is $1,200 per month.  Even if your mortgage is higher, isn’t it wonderful to have someone else paying the first $236,831 worth of your mortgage?

II

From a Practical Standpoint

(A)       If you need the income now, but perhaps won’t need it as much in later years, you can use the space later for a grown child, one or two parents, a guest suite, or additional living space.

(B)       If you need all of the home, including the apartment, for your family now, in later years you can rent it out for additional income as shown in I above, or you can put it to one of the uses described in II (A) above.

(C)       For resale value, you have much more to offer your potential buyers than your competition will, for all of the reasons in this article.