Updated about 3 years ago on . Most recent reply
Would like some advice - very frustrated
I am new here so please be patient.
I am desperate to move closer to my family. #1 goal of mine. Unfortunately they live in a very popular / expensive area and as a single person I am finding it very difficult to find something. My budget is about $800k and the homes there are about $1M. So I have a gap of about $200k. Getting approved for $1M is no problem - it's just that I'm not comfortable going that high. I want to be less than 10 mins from them or else it doesn't make sense to move at all. I am currently about 45 mins from them unless there is traffic - there is always traffic. So I am trying to rack my brain to see if I can think of any way to make this happen. I am open to any suggestions at all. Thanks so much.
Most Popular Reply
#3 Managing Your Property Contributor
Options:
1) rent and buy a home in another area and use that as a rental
2) is anyone in your family willing to move and the two of you could buy a duplex-they live in half and you live in half
3) buy a place with a suite-you live in the suite and rent the main part of the house. The extra income will help you cover the mortgage. If you don't want to deal with being a landlord, hire a good property management company to handle the tenant.