[USER]

Need advice; what would you do? My s.o. Is moving away for the military for 1 year. I can’t go. Car will be paid off by then and I have 45k in student loan debt. What is my smartest financial decision from here?

These are my thoughts:

1. Airbnb my house which is local to a few casinos, but really is nothing special. Typical 4 bedroom cape house with fenced in yard. I’ll average $150-200 a night I’m guessing with it booked fri-Sunday judging by local listings. Airbnb takes some fees. Live with my parents or out of my car/camping while people are there
2. Sell house and maybe gain $15-20k, put towards student loans.
3. Rent out house and move in with parents. Make an extra $500-600 a month I’m guessing?
4. Keep the house, bills are now $1900 a month, which I can afford but with no extra money to go towards my debt.

I don’t need a 4 bedroom house for just me and 2 pups. But could create a Sniffspot location with my fenced in yard and puppy playground with tires for them to climb(free locally), and bring in approximately $200 a month? Put that $200 towards my loans. Maybe get a roommate for $900 a month 1 bedroom or $1200 a month for two? Is that reasonable?

What would you do?

[Ross]

Do a partial Airbnb rental and run it like an actual bed and breakfast. You can charge higher rates and you still get to live there. Also cuts down on damage.

[Mary]

Rent 2 furnished rooms to traveling professionals if possible. If not get a roommate and rent them two rooms. Fix one up as a kitchenette/den so they have private space and don’t bother you. That’s what I do. Don’t even think about living in your car.

It’s very dangerous and also there’s the possibility of fines.

Don’t miss: What would be best starting a business or buying a house?

[Sarah]

As an adult who has a good relationship with their parents and who moved back home for a few years after university to help save for a house – you quickly settle back into the parent/child roles and it can be an adjustment if you’ve been away for a long time so if you can deal with that I’d say rent the house out and move back in with them but you’ll be paying them rent.

If not, get a housemate for each spare room and maybe still create a Sniffspot depending on your new tenants.

[Richard]

Is this temporary, for just a year? If so I’d maybe try Airbnb and stay with parents when needed. Or get a temporary roommate. Hopefully a friend or someone you know needs a short term spot.

[Noa]

Id pick #3 but it depends whether you want to move back into the house later, where your current job is, how your relationship with your parents is…

Useful: Just bought my first house and am currently looking into homeowners insurance

[Don]

Why did you think you can rent the whole house out for only $5-600 a month but then say a room will rent for $900 and 2 rooms will rent for $1200?

[Author]

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