Buying Multi-Unit Housing (duplex) in a down market can be a great idea!

By
Real Estate Agent with www.dannyrealestate.com

There are a number of things to consider when buying a home and not everyone’s reasons are the same. One market that looks very good right now is the owner occupied duplex (multi-unit housing.) This type of lifestyle is not necessarily for everyone, but those who appreciate the duplex life often stay with it for a long time. The benefits of buying a duplex is that you are able to subsidize your mortgage through the rental income that is received in the unit you choose not to live in. When prices fall and qualifying for a mortgage becomes more difficult rents tend to increase. A duplex buyer will then benefit twice, they purchase a duplex at a depressed price and collect higher rents. As the market rebounds and home prices start to appreciate home affordability becomes an issue. Buyers now wanting to get into certain neighborhoods might find that they can’t qualify for a single family home, but they can use the rental income to help them qualify and purchase a duplex. If you bought the duplex in a down market, such as we are currently in, then it’s very likely you’ll see a great return on your investment and can turn a profit on the sale in addition to have lived relatively inexpensively during the time period that you called your duplex a home. If you want a list of duplexes that are currently for sale please email or call me.

 

Danny Dietl

Realtor - GRI

612.306.6676

danny@imetroproperty.com

www.iMetroProperty.com

Comments (4)

Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

Danny, Welcome to the Rain! Active Rain is a great place to share your knowledge, expertise and thoughts, as well as network and learn so much from the vast pool of talent already onboard.

Welcome Aboard and Much Success!

Jul 09, 2010 05:44 PM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.

Jul 12, 2010 05:06 PM
Danny Dietl
www.dannyrealestate.com - Minneapolis, MN
Buy, Sell, Lease - iMetroProperty.com

Thanks Letitia, consider me a resource in Minneapolis.

Jul 15, 2010 08:00 AM
Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

Hi Danny, I would like to invite you to subscribe to my ActiveRain Blog by clicking here Subscribe to Letitia's Blog.

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All the Best! Letitia

Sep 12, 2010 06:03 PM