Enjoy Low-Cost Living: Consider Buying a Two-Family Home

Sometimes the ideal start for a person, or a couple’s first home is a two-family, or multi-family home. When you think about it, the same advantages exist for a two-family as they do for a single family home. Interest, taxes and improvements are all tax deductible.
Sometimes the buyer can qualify for a higher priced home based on projected rent plus their own income, and the deductions can be even more significant. Now that alone is an advantage, but when you consider that the tenant is more than making up the difference in monthly overhead, the rewards are even greater. In many cases the homeowner can virtually live “rent free” while the tenant is in effect paying the mortgage and taxes. This is not a bad deal when you consider that the appreciation of the property and the amortization of the mortgage is building equity on a monthly basis.
In the interim, the homeowner can save at a fairly rapid rate for their next purchase which may very well be a single family home if they wish to raise a family or perhaps another two or three family home.
Being a successful landlord is dependent upon being able to effectively handle tenants. Having the tenant right next door makes it easier for you to keep on top of things.
Because of the ability to save during multi-family home ownership, it may be possible to purchase the next home without selling this one. Once there is a tenant in each of the units, the property could produce a positive cash flow, and the amortization of the loan and the appreciation of the property would continue.
At Nothnagle Realtors, our well-trained salespeople take pride in helping buyers make good decisions in their real estate purchases. What works for one may not work for another. Our job is to explain different strategies, so the buyer can make an informed decision about what they want to accomplish and go forward with confidence.
Before striking out on your own, it is good advice to sit down with a Nothnagle agent who will properly set forth the options available so you can make an informed decision.

Innovative tools, technology and the top producing real estate professionals in the area are what set us apart. If you’re looking to buy or sell property, consider the advantages of using the Best Agents and the Best Technology by hiring a Nothnagle real estate agent. Each can give you up-to-date market information on pricing, financing and terms and conditions of competing properties. These are key factors in getting your home SOLD for the best price quickly with the least inconvenience. Call any Nothnagle agent or 899-MOVE today! You can also go to Nothnagle.com and our newest site – Nothnagle.tv!

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