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Is it too risky?

Ok, so my hubby and i have found and fallen in love with a house. The payments will be higher then we would normally want, but the house comes with a 1 bedroom apartment that we could rent out to help with payments.
should we try to find a tenant? Our other option is to become certified and take in a highly functional handicapped person. This is a lot of responsibility but it is my husbands line of work, so we know them all personally, and it is something we have considered in the past but dont have room where we are now.
it compensates well, and while it is a huge responsibility it would allow me to quit my job, and have another baby?
Should we go for it?

Answer Question

Asked by Anonymous at 3:08 PM on May. 30, 2009 in Money & Work

Answers (7)
  • I think it sounds like a good idea. It seems you've covered all the bases here. I'd think about it a few days, consider any "emergency situations" that could arise and make sure you can accommodate financially for things that may come up unexpectedly. You'll need insurance too if you are running a facility for someone who is handicapped. And your building will have to meet building codes(more money for inspection), not to mention installing a wheelchair accessible ramp (if necessary).

    good luck! :)

    Answer by CinderAmethyst at 3:11 PM on May. 30, 2009

  • op here actually its not a facility- its an inhome care situation which is complicated but not quite as complicated

    Answer by Anonymous at 3:26 PM on May. 30, 2009

  • Especially since it is your husband's field and you know the people, it sounds to me as though it is meant to be. It will be a huge responsibility, what about vacations, illness- yours and the person you are helping, do you have a backup? The times that you and your husband simply aren't available, you may want to arrange with a temporary care facility to take the person in. Will you have time with your children to provide transportation, cleaning services, emergency care day and night?

    Answer by Bmat at 3:29 PM on May. 30, 2009

  • If it were me, I'd be more inclined to look for a tenant. I think it's great your husband works with handicapped people, and that you would consider taking one in and caring for one, but it is such a huge responsibility. And you mention having another baby, which means you have at least one child now. I think two or more children, plus the responsibility of having another person relying on you would be very stressful. Not to mention you would have to be available for that person 24/7, and make sure that there was someone who could/would take over for you in an emergency or if you had to be unavailable for some reason. It's admirable that you would even consider it, and if you do it, I wish you the best of luck. But I, myself, would rather have a tenant that wasn't going to rely on me quite so much when I have a family to care for, too. Plus, as someone else mentioned, equipping the home for handicapped will cost, too.

    Answer by tropicalmama at 4:52 PM on May. 30, 2009

  • op here- thanks for all your answers. i forgot to mention that i was not talking about a physiaccly handicapped person. My hubby works with the mentally handicapped. but they are highly funtional and mostly self sufficient. most of them have jobs through the agency my hubby works for, and the only thing i would need to do is be available to tAKE THEM TO APPOINTMENTS IN CASE OF AN EMERGENCY AND PROVIDE THEM WITH MEALS. It is a large agency that deals with all aspects of adult hndicaps- they have people who take them to work, handle their financces, and even take them on outings. I realize that the person would esentially become part of our family and we would pobably takt them on most family outings. In tthe case of vacation we could take them with us-or they could stay at the care center that the agency has. Also our family is wonderful and would be willing to help us out when needed.

    Answer by Anonymous at 5:13 PM on May. 30, 2009

  • Would there be any conflict of interest with your husband working for this agency and having one of the clients living with you? I would definitely check into that.

    Answer by Magpie75 at 6:14 PM on May. 30, 2009

  • no there is not. there are many people that do it.

    Answer by Anonymous at 6:21 PM on May. 30, 2009

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