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Updated over 9 years ago on . Most recent reply

User Stats

227
Posts
35
Votes
Jonathan Perez
  • Realtor
  • Jacksonville, FL
35
Votes |
227
Posts

First duplex house hack VS renting. Little to no money

Jonathan Perez
  • Realtor
  • Jacksonville, FL
Posted

So my current situation is this. My current lease is up by the end of December. I'm currently staying with my mom and little sister.

Now, I have about a month and a half before I move out. I was going to rent a 1 bedroom apartment for myself. But I figured if I could buy instead of rent, why not buy?  My mom starts telling me about what am I going to do when things break, or if unforeseen issues pop up? And I don't really have an answer to that which makes me question, what would I do? All I have going in would just be my down payment.  

So, with just enough money for a down payment to get in the duplex. Would it be smart to move in with the intention of renting out the other unit and continue saving money or should I just continue to rent and save money?

I feel like I can easily get into a duplex and continue saving and putting away money for unexpected issues that arise later (assuming the property is in good condition, and I should be alright, long as I factor out the possible expenses. What're your thoughts?

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