Joyce Crommett, Westborough MA Real Estate, Southborough MA Real Estate, Northborough MA Real Estate


So, you want to buy a property and offset it with rental income, but a multi-family or apartment complex is a bit too rich for your bank account? No problem! Most of the steady increase in new renters comes from young millennials, and you can cash in on this increase as well by buying just a slightly larger property. Renting out rooms to students, or the other half of a duplex is a great way to supplement your income or offset that larger house purchase you don't completely fill yet.

Some layouts are better for segregating (for privacy) and renting out than others. Look for homes with secondary entrances, guest houses, separate parking, and multiple bathrooms or a finished basement with its own bathroom to ask for the highest rents. Your agent can help you find these properties; they are experts in the needs of potential landlords.

Owning and Renting a Duplex

Duplexes have some significant income advantages, especially for new investors. If you're planning to live in one of the units for at least a year, you'll qualify for FHA loans that can cover over 90 percent of the property value. Additionally, you can rent out the other side to offset your payments. That lets you be both a homeowner and a landlord at the same time, whereas if you were to purchase a single-family home with an FHA loan, you would still have to live in it for a year before renting it out, cutting down on your potential income. The downside of living in and renting out your duplex is proximity. You typically share a wall with your tenants, which means very little is hidden from them, and you're always on call if they need something. 

You can also rent out your duplex to your elderly parents or grown children, which allows you to be together while having separation and privacy.

Being a Landlord

No matter what size your rental property, from a single room to an apartment complex, you are responsible for the property. That means all maintenance, landscaping, upgrades, appliances, emergencies, and anything else that crops up is yours to take care of in a timely manner. Be sure to check your state and local laws for the specific landlord requirements and tenants’ rights in your area.

Next time you make that open house list, be sure to ask about properties good for sharing with a tenant. Your realtor can help!


This Single-Family in Ashland, MA recently sold for $550,000. This Colonial style home was sold by Joyce Crommett - Coldwell Banker Residential Brokerage.


Ashland, MA 01721

Single-Family

$575,000
Price
$550,000
Sale Price

10
Rooms
4
Beds
2/2
Full/Half Baths
Beautiful home in prime commuter location! It's the best of both worlds- close to Rt. 9 / Commuter Rail and private 3 acre backyard that backs into Ashland Town Forrest. Entertainers kitchen opens into a sunken living room with a floor to ceiling stone fireplace and hardwood floors. French doors lead to the freshly painted large back deck and beautiful backyard. The first floor also boasts a home office with custom molding, a spacious dining room and 1/2 bath with laundry. Updated hardwood floors run through out the second level. Huge cathedral ceiling master with dual walk in closets and private bath with jetted tub and sitting area. 3 additional bedrooms with ceiling fans and hardwood floors. Finished basement has 2 large finished rooms and a 1/2 bath. Gas line in front of home with easy hook up for cooking.

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This Single-Family in Shrewsbury, MA recently sold for $350,000. This Ranch style home was sold by Joyce Crommett - Coldwell Banker Residential Brokerage.


Shrewsbury, MA 01545

Single-Family

$369,900
Price
$350,000
Sale Price

7
Rooms
3
Beds
1/1
Full/Half Baths
Much bigger than it seems from the outside - this Wonderful Ranch is over 2000 sq ft and has fabulous large spaces!. Open Flowing Floor plan with 3 Bedrooms, 1.5 Baths, HUGE Living Room w/Fireplace and even BIGGER 18x24 Great Room w/Cathedral Ceilings and Sliders to the large level yard which abuts 70 acres of Prospect Park. Updated Kitchen w/Corian Counters, Update Baths, Hardwood floors through most of the home, a Three season porch off the Kitchen and a 1 Car Attached Garage. Fabulous storage available in the lower level, Exterior freshly painted, Fabulous location - so close to the center of Town and easy commuting location! The Family Room can easily be used as a Master Bedroom, if needed. Roof (approx 2008). The house needs a bit of TLC which will make this home SHINE!

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Real estate market data is readily available to home sellers across the United States. With this information at your disposal, you should have no trouble maximizing the profits from your home sale.

Now, let's take a look at three real estate market data that every home seller needs to check out before listing a residence.

1. Prices of Comparable Houses

Let's face it – determining a competitive price for your house may prove to be difficult, regardless of your home's age or condition. Fortunately, if you analyze the prices of comparable residences in your city or town, you can better understand how your house stacks up against the competition and price it appropriately.

Furthermore, it may be beneficial to conduct a home appraisal prior to listing your house. This appraisal enables a home expert to assess your house both inside and out. Then, you'll receive an appraisal report that contains a property valuation, which may help you determine a competitive price for your house.

2. Prices of Recently Sold Houses

Are you preparing to enter a buyer's or seller's market? Review the prices of recently sold houses in your area, and you can find out whether the current housing market favors buyers or sellers.

If home sellers are receiving offers at or above their initial home asking prices, now may be an ideal time to list your residence. Thus, you may want to add your house to the real estate market sooner rather than later to capitalize on a housing sector that likely favors sellers.

Conversely, if home sellers are receiving offers below their initial home asking prices, you may want to allocate significant time and resources to find ways to improve your house. Because if you enhance your house's exterior and interior, you may be able to help your house stand out from the competition and increase the likelihood of a profitable home sale.

3. Average Amount of Time That a House Is Listed

Check out how long houses stay on the real estate market before they are sold – you'll be glad you did. With this housing market data in hand, you can assess the pulse of the real estate market and map out your home selling journey accordingly.

If you need help collecting or analyzing real estate market data, there is no need to worry. Hire a real estate agent today, and you can gain the insights that you need to make informed decisions throughout the home selling journey.

A real estate agent is a housing market expert who is happy to help you in any way possible. He or she will provide recommendations about how to price your house and improve your home's interior and exterior. Plus, a real estate agent is available to respond to any of your home selling concerns or questions, at any time.

Ready to list your home? Review the aforementioned housing market data, and you can obtain deep insights into the real estate sector prior to selling your house.


Nothing beats the warm, inviting feeling that you get when you enter your kitchen. However, failure to keep your kitchen clean can impact the quality of your kitchen. This ultimately can make a big difference in how homebuyers perceive your kitchen, along with whether they decide to submit an offer for your home. Fortunately, there are many simple ways to keep your kitchen looking great day after day, including: 1. Use baking soda to clean your tile floors. Your tile floors were beautiful after they were installed. But since that time, they've become dirty, grimy and tough to clean. But we have a surefire solution to help you revamp your kitchen's tile floor – baking soda and water. The combination of baking soda and water serves as a wonderful tile floor cleaner that is easy to apply with a mop. And within minutes of using it, you may notice that your kitchen's tile floor looks as good as new. 2. Eliminate wall splatters. Over the years, you've prepared a wide range of meals in your kitchen – everything from spaghetti and meatballs to sloppy joes. Unfortunately, not every dish has been an instant success. And as such, there have been many splashes of various ingredients that have landed on your kitchen's ceiling, floors and walls. Eliminating wall splatters may seem impossible at first. Luckily, there are numerous viable options to help you remove them without delay. For stains on painted walls, you may want to use a wet cloth or paper towel. The combination of a wet cloth or paper towel and tough scrubbing will allow you to eliminate stains on painted walls immediately. Comparatively, oily stains may require water and dishwashing soap. This mix is powerful and will ensure that you can remove cooking grease and other oily stains. 3. Disinfect the garbage disposal. Your kitchen's garbage disposal has served you well, but bad garbage disposal odors may persist if you're not careful. On the other hand, home sellers who focus on keeping their kitchen's garbage disposal clean can avoid such odors altogether. Looking for a great way to clean your kitchen's garbage disposal? Using a mix of vinegar, water and ice cubes can help you clean and deodorize your kitchen's garbage disposal quickly and effortlessly. Dedicate the necessary time and resources to disinfect your kitchen's garbage disposal, and you can guarantee that this disposal remains clean and performs consistently. 4. Wipe out the refrigerator. In many cases, home sellers may include a refrigerator in a home sale. As such, you'll want to keep this refrigerator looking and performing great. Wiping out your refrigerator and removing expired items regularly is essential. By doing so, you can remove the risk of bad odors from escalating in your kitchen. Of course, don't forget to keep an open box of baking soda in your refrigerator, too. This box should be changed periodically and will provide a fresh scent any time you open your refrigerator door. Keep your kitchen clean, and by doing so, you may be able to boost your chances of a quick home sale.



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