Manchester, CT · Member since 2018 · 1 post · 0 votes
I am in a good position to make my first real estate purchase. I have been debating weather to buy a primary residence or a rental property as my first real estate purchase ever. What are some of the things this can depend on? Is this market dependant at all?
Realtor · Portland, ME · Member since 2015 · 655 posts · 552 votes
7y
Go with the rental property AS your primary residence! Take advantage of the low down payment, owner-occupancy currently available. Once you buy a single family primary residence, if you decide you want to buy a 2-4 unit multi family purchase as your second purchase, without moving in, you will need to come up with 20%-25% as a down payment.