Thinking about buying a house and renting out the rooms?

: Thinking about buying a house and renting out the rooms?
I’m considering buying a house and renting out the other rooms while I occupy the master bedroom. What do you think are the pros and cons of this? What kind of things can my room mates do that could effect me legally? Like if they brought drugs into my house, would I get in trouble as well? Also, has anyone ever done this before? What was your experience?

Thank you. 🙂

Answers and Views:

Answer by aeriol7
when buying a house you must think of its equity and value, if you live there it will seem odd. First there is keeping decent loggers then its that issue of them considering themselves your roommate. You will own property and not want any dispute over ownership. Second the mortgage will be in your name and so will all repairs on the property or house. Third its better to live in an apartment going condo if that is want you really want, some to help with bills or even a two flat and you on the first or second floor. good luck.