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How crazy does this idea sound?

I have 3 kids and live in a 3 bedroom house. My two youngest are in daycare, which currently costs about $900/month. We are looking for a bigger house. We would like to hold off on selling the house we have now until prices are a little higher, but it seems like a good time to buy (plus we NEED the space now). We have considered renting out the house we currently live in for about $1000, month. So, here's my crazy idea: I find a young married couple with a SAHM and one or two children and we let them live in our 3 bedroom house rent free in trade for watching my two youngest children during the day M-F. I would, of course, be very selective regarding the family I would be willing to make this kind of deal with. How crazy does this idea sound to you? Is it something you would consider doing either from my position or from the renter/SAHM/daycare provider position?

 
Anonymous

Asked by Anonymous at 2:24 PM on Jul. 27, 2009 in Just for Fun

This question is closed.
Answers (12)
  • This arrangement although it sounds pretty resourceful on your part, my acknowledgment to you for such a intriguing idea has alot to take into consideration you should definitely get it all down in writing hopefully written up by an attorney to protect your rights and conflicts that may arise from such an arrangement. But just like tenants ( not all) you have to consider every scenario that may arise and if you have it legally binding with a few riders you should be ok. Very creative on your part.!
    Hurtnlostmom

    Answer by Hurtnlostmom at 3:23 PM on Jul. 27, 2009

  • Where are you? I would like to open a home daycare, but not in my home. I want to rent a house and open it there. That would be a perfect situation for me. :)
    SusieD250

    Answer by SusieD250 at 2:30 PM on Jul. 27, 2009

  • (OP here) I'm in Texas. I just thought of this "solution" today, and it seems like a good idea. I haven't really thought it through yet. I've never heard of anyone with this type of arrangement.
    Anonymous

    Answer by Anonymous at 2:36 PM on Jul. 27, 2009

  • Wow I think that sounds like a wonderful idea!!! Alot of SAHM are looking for extra income and some do babysit anyway....getting your rent paid to babysit sounds like a good idea. I'd consider an arrangement like that.
    robinann5

    Answer by robinann5 at 2:38 PM on Jul. 27, 2009

  • Sounds good to me as long as u really "test" the people and make sure they are good enough to watch ur children.
    kirsty_mcgrail

    Answer by kirsty_mcgrail at 2:38 PM on Jul. 27, 2009

  • What ever you do, make sure you have the people checked out and hire a lawyer. :)
    SusieD250

    Answer by SusieD250 at 2:44 PM on Jul. 27, 2009

  • Sounds good to me, however, I would get it in writing that their rent is paid by her babysitting, that way, she won't/can't "call in sick", etc. and would hopefully not try to take advantage of free rent. I would also be EXTREMELY selective and run at least a sex offender background on anyone you don't know that would be around your child. Good luck, I hope it all works out for you.
    kustomkrochet

    Answer by kustomkrochet at 2:50 PM on Jul. 27, 2009

  • I would consider it, if I were in the need for a home. It would be like a live-In nanny, but not living with you. And giving them thier own home.. I am sure you'll find people willing to apply.
    babyinafishbowl

    Answer by babyinafishbowl at 2:51 PM on Jul. 27, 2009

  • Just out of curiousity, how will you pay the current mortgage? Why not just rent the house out and use the money to pay the mortgage and childcare? I understand if it is to help someone (barter). I keep coming back to this because it is such a novel idea.
    SusieD250

    Answer by SusieD250 at 3:00 PM on Jul. 27, 2009

  • SusieD - my initial thought was to just rent out the old house, and that's probably where we'll still end up doing. If I don't have to pay chidcare, then I can use that money to pay the mortgage. I'm out about $900 either way. I was just thinking about the similarity in what I pay for daycare and how much we would rent our house for, and the idea just came to me. It kind of excited me because it seems so different. It would be financially equivalent to renting out the house and paying daycare, but it would give someone the chance to live in a home and give my children a different experience than daycare. I am very satisfied with my kids' daycare, so it would have to be just the right people for me to give it a try.
    Anonymous

    Answer by Anonymous at 3:21 PM on Jul. 27, 2009

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