Looking for Advice on House Hacking After Kids Move Out

[Ben Bond]

Hi everyone!

My wife and I are thinking about house hacking now that our youngest is graduating soon and heading off. We currently live in a comfortable home and are open to renting it out, either as a traditional rental or as corporate housing (though we need more info on the corporate housing side of things). We're also considering both single-family homes (SFR) or 2-4 unit properties, with the plan to live in one unit for a year and then purchase another property.

Here are a few things we’re working through:

• We’ll need to downsize and store some items — any tips or advice on this process?

• We’d like to stay in the same general area. 

• When renting out our home, we’re torn thinking of renting it traditional, long term and/or corporate housing. For those who have done corporate housing, is it a good fit for a situation like ours? 5 bedroom, 3 bath, 3 car, reverse ranch. What are the key differences we should be aware of when deciding between the two?

• How did you manage the transition from a family home to a rental property? Any advice on things you wish you had known before starting the process?

We’d love to hear about any experiences, tips, or things we should consider that we might not have thought of yet.

Thanks in advance for your feedback!