House Hacking Question - Split Level Ranch
I recently purchased the split-level ranch that I was renting the bottom half of. The former landlord (now my tenant) plans on moving in a year or so, and I realized that I may have an issue that needs crafty marketing and/or renovations to solve. The house has 3 bedrooms on the first floor, and 2 in the lower level. The first floor has a full bathroom, and the lower level only has a half bathroom (toilet and sink). The current tenant and I have it written in the lease agreement that the first-floor kitchen and bathroom are common areas.
Now, the obvious best option is the renovate the lower level to make it have at least a 1 3/4 bathroom (and there is room to do so) as well as adding a small kitchen area, but current available finances are the issue.
So, in the meantime, how would you recommend marketing a first floor with such a setup? Have any of you had to deal with this type of situation before? Also, if it helps, there are several colleges in my area, so maybe there’s a marketing avenue there?
Note: I plan on living in the lower level for at least a few years while it gets renovated and eventually have it be its own, fully independent unit. The current goal is to House-Hack to live essentially mortgage free and use my day job for renovations.