B49 - Renting out Your Home

You might have heard about people renting out their home for someone else to live in.

There are several reasons why this option is worth considering. This might be a way of generating a cash flow to help with the cost of living.

Or you might need to move to be closer to services or because your home has become unsuitable for you. You may prefer to live with family or whānau or have a hankering to try out a new environment. Perhaps you have a new partner who already has a home where you both can live. For some people, it makes sense to rent out their home and postpone selling it until the market improves.

Pros

Cons

Homework

What do I need in order to take this option?

Could this option limit my future choices?

Renting out your home will give you choices in the future: you could go back to live in it or sell it.

For more information