3 Reasons to Rent the Spare Room in Your House

With housing prices skyrocketing across the country and wages unable to keep pace, many people are looking for ways to make some extra income. For some, this means renting out a spare room or other space in their home. While this may be simply a means of making ends meet for some, financial motivations are not always the only reason for considering renting out a room in your home. If you have more space than you need, here are 3 reasons why you might consider renting some of it out.

1. Helping someone in need

When housing prices skyrocket, rental prices tend to skyrocket right along with them. In many major metropolitan areas right now, individuals with full time jobs are actually living in homeless shelters – and this is not even a recently developed situation. Many hard-working people with full-time jobs are simply not able to afford adequate housing right now, so if you have extra space you are not using, consider renting it to someone who might desperately need it.

2. Might help broaden your horizons

One of the biggest buzzwords of the 21st century is that of “entitlement.” One of the perks of owning our own home or living alone (or only with our own family) is that home is the one place where we feel the complete and utter masters of our own domain. We don’t have to put up with music we don’t enjoy or be exposed to smells we don’t like or even listen to someone speaking a language that isn’t palatable to our ears. Learning to live with these things, however, is called tolerance, which is in essence the opposite of entitlement. Renting a room in your house might mean you have to share a roof with someone very different from you. In the end, however, that might not turn out to be such a bad thing.

3. Extra safety, security and a helping hand when you need it

Many times, when you rent a room to someone, they are going to have a different schedule than you or your family. When you go on vacation, they are home, when they go away for a weekend, you are home. The longer a home sits empty, the more likely it is to be broken into. In addition, having an extra person in your home also means an extra set of hands. This can be helpful for everything from preparing food to being able to stay home for deliveries or service calls or possibly even be around when your kids get home from school.

Sharing a home with someone you know or even a member of your own family can be difficult. Renting a room to a complete stranger might be even more so. But not everything that is difficult is necessarily bad. Regardless of whether you genuinely need the extra income or not, if you have extra room in your house, consider renting it to someone in need. Who knows, you may be the one to benefit even more than them.

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