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swearmir
April 9, 2025
Question

I'm renting out part (a studio room) of my house. Do I use the full house value to calculate original purchase price, fair market value, land value, etc.?

  • April 9, 2025
  • 1 reply
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For example, if I purchased a 4-bedroom house for 400k, do I value the room at 400k / 4 rooms = $100k?

    1 reply

    A
    AnnetteB6
    April 9, 2025

    Yes, you use the full value and the proportion of the value based on the space that is rented.  

     

    You can use a method based on the number of rooms like you described in your example.  Typically a more accurate calculation would be based on the square feet of the space being rented versus the square feet of the whole house.  

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