While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

.• Use some equity from the sale to make this transition smoother.I’m torn between maintaining our current home as an asset and buying  a new smaller house to use as a rental after we move back in versus simplifying and focusing on a single upgraded property Considering factors like market trends, potential equity growth, and quality of life, which path do you think would be most beneficial?

Whether these factors outweigh the challenges is a personal decision. 

What factors should I consider when setting rent per room?

It's hard not to be emotional when house hacking becasue you're living there but think about other factors for you too, not just the cost.

This includes flooring, painting, bathroom upgrades new light fixtures, usually there’s about $800 in electrical costs factored in here and all new cabinet hardware.

As such, just upkeep and maintenance of the yard became a factor in deciding to sell.

Rate will be highly dependent on loan size, credit score, LTV, location, and property type, as well as a few other factors.

However, 2024’s holiday season was impacted by other compounding factors, making the usual seasonal dip more pronounced.2.

If you have a lot of equity and little cash flow, you should consider accessing that equity to use elsewhere.Another factor to consider is your interest rate on the debt.