4 things I did before renting out my first home to tenants - Business Insider

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I grew up thinking home ownership was out of reach for me because my parents were never homeowners

that we live in, and another on that first home in a small city about an hour away, which we now rent out.

Still, . Still, we wanted to take advantage of being in the real-estate market long-term. We decided to try to find a house that would make a good rental after we outgrew it. That meant actively shopping with the rental market in mind. I was willing to buy a home that was smaller than ideal in order to reach our long-term goal of having a good rental, so we put in an offer. The house we bought was a fixer-upper. Although it was structurally sound, everything needed updating. Over the three years that we lived there, we replaced the walls, ceilings, floors, and windows. We gutted the bathroom and kitchen, and improved the yard.

We also styled our renovations with renting in mind, choosing styles that were widely appealing. We put light colors on the walls, cabinets, and trims even though we personally prefer bold shades. All of this meant that when it came time to rent out our home, it appealed to a wide swath of renters. Last year we had a second child and knew that we had officially outgrown our starter house.

 

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