Live in basement, rent out top?

[Charlie V.]

Hi, my area in the WV panhandle seems to be lacking in quality duplex, triplex, and quadplex homes, so I have been looking into a different way to "house-hack". There are plenty of basements in the area though. 

I was wondering how much you guys believe it would effect the rental value/appeal if I was to live in the basement and keep the connecting door locked (or even removed if that won't raise zoning problems) and just use a door to the backyard/side of the house to enter/exit daily. 

Any help with this would be greatly appreciated as I continue to look into my first purchase.

[Bettina F.]

A long as you have outside egress, and the basement is safe,  and you live there, I do not see a problem.   I used to own a daylight basement house built on a hillside.  The basement level had a 3/4 bath, a family room with big windows and sliders to a patio, and a laundry room that could easily have been converted to a kitchen.    Many houses now have "snack kitchens" in their family rooms -- a small kitchen with a smaller refrigerator, a bar sink and a microwave.  No oven.  You could not cook a Thanksgiving turkey in that kitchen, but it would be perfectly fine for most single people.  

The problem with illegal rentals is that the tenants have an inordinate amount of power if you end up in a disagreement.  I would rent out the house as roommates -- you just choose to stay in your level of the house while they stay in their level.  Keep the connecting doors, but put in a double sided deadbolt.  Live there for several years, build up your funds.  Realize that if you ever move out, you will not be able to (legally) market it or sell it as a two family.