So you own a home and wouldn’t mind a little help with the mortgage. Perhaps you don’t need the help desperately, but you’re tired of living on such a tight budget, just to make those payments every month. If you’d just be willing to share your space aka take on a tenant, you could free up some income, and not feel like you were constantly pinching pennies. Plus, it can be nice to have extra life in the home. Even if you have a partner with whom you live, sometimes, an added personality can liven things up. Now the question is: do you take on a friend or a stranger as your tenant? Hopefully you wouldn’t take on a total stranger (don’t go to Craigslist for this one!), but there’s always the option of sending out some feelers to your network—coworkers and friends—and seeing if they know anyone looking for a place to live. Or, you could just take on a good, close friend. Here are the pros and cons of that.
You always have a friend around!
When you didn’t live with this friend, you always wished you could see her more than your schedules would allow. Now, you can see her all of the time! You don’t need to do a long email thread of scheduling, just to try to maybe get coffee in three weeks. You can catch up every single night.