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Wednesday, September 8, 2010

My Real Estate Idea: Weird?

You may be surprised to learn that in real life I am somewhat reclusive. I think teachers deal with so many people every day--all with problems of one sort or another--that we retreat to our cozy homes at the end of the day.

So...I don't know (well) all that many people here. I was surprised to discover that, out of my small sample group of friends, two had the same issue. Each had an elderly parent whose house was unsaleable, owing to the late troubles. There are two empty houses, because the elderly owners are now in assisted living.

The houses are paid off, so don't represent a huge financial drain; still, houses are not meant to be empty.

Interestingly, each of these friends also has a son, each of whom, to put it charitably, messed up in college, in spite of their charm, wit, and intelligence. Said sons are looking for work while they figure out what to which point, they may return to college.

BRAIN FLASH! I said to Friend #1, "Why doesn't Charlie live in his grandparents' house, look for work there, and maybe take courses at the college that just happens to be in town?" Friend #1, who is a financial planner, said "Not a bad idea."

I haven't tried this on Friend #2.

In a comment to Funny About Money, I ventured a surmise that creative youth may flock to some unlikely places in search of low rent and opportunity. Certainly, New Orleans has a younger, peppier demographic in the wake of the storm.

Are there any creative ideas to help people out of their various real estate pickles?


Duchesse said...

The moment Charlie lands a job, he should pay rent at either market price or a lower figure with the requirement of house upkeep (but not so low that it's a handout).

And if Charlie and his buddy are not willing, how about advertising for a local, reliable young person who would rent for a break and keep the place well-kept?

This would keep the houses occupied and maintained, and help young people learn about home maintenance.

Shelley said...

Put it on adverts for holiday lets? Use it for house swapping with people in other parts of the world? Set up shared accommodation for students at any nearby universities? Rent rooms to family members to use for storage? Rent to families at a low rate if they are highly recommended by your church?

Frugal Scholar said...

@Duchesse--I think my friend was so shocked by the suggestion that it will take her a while to process it. REnting to students is a good idea.

@Shelley--These are not holiday areas, I'm afraid. The problem is that both are very far away from any other family members. But I like the student idea--both homes are near colleges!