Updated over 10 years ago on . Most recent reply
Purchase 1BR or 2BR
I am looking at purchasing my first house since graduating from college. I have been working in the professional world for about a year now, and want to buy a place that I can live in for awhile then eventually rent out.
I am considering whether I should buy a 1BR place and live there by myself, or a 2BR place that I could live in and rent out simultaneously. I also plan on keeping this place for awhile so I could rent it after I move out.
My question is which do you think would be a better investment for the long-term? I know that if I get a 2 BR and rent it out while I'm living there, the rent would cover a significant portion of the mortgage. But I could also get a house for much less if it is 1 BR. How should I go about making this decision?