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Personal Finances / Buying or Selling a Home


Subject:  Rental Property Questions Date:  12/26/2012  11:31 PM
Author:  mhtruck Number:  124503 of 128866

Hi Everyone,

I’m hoping you can either offer some advice or point me in the right direction to some resources.

1) Is there a rule of thumb regarding home age and yearly maintenance costs (Central Coast area of California)? Or number of bedrooms/baths, square footage maintenance costs?

2) What are some of the standard ratios to look at for rental property? And what should they be/do people look for?

3) From a rental stand point (ease of rental, maintenance costs), do you all have an opinion of 2 bed/1 bath, or 3 bed/2 bath?

I’m currently a renter but my landlord has some financial problems that worry me and I have pets that make finding rentals difficult. The end result was even though I have more debt than I’m happy with (from long term unemployment) mortgage brokers seem fine with it, and I’m in the final preapproval phase (first time homebuyer).

Because this isn’t the timing I would choose to be buying a home (from my personal financial perspective) I’m looking for something that will make me happy for now, but several years down the line, make a good rental.

If there are any books, websites, or references you can suggest about what to look for in rental property, I’d appreciate it.


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