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Buying & Selling Real Estate

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Nathaniel J Mott
  • Raleigh, NC
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62
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Buying first home in Raleigh NC area

Nathaniel J Mott
  • Raleigh, NC
Posted Aug 5 2020, 20:49

Hi BP,

I'm planning on buying my first home in the near future and would like to rent out the remaining rooms.

I'm wondering what the community thinks my best option is. I was looking for houses in the 200k range but a mortgage broker hinted that I may be able to get a loan for 250k.  Is it smarter from an investment standpoint to buy a bigger house and bank on the idea that I'll have consistent renters to pay the mortgage, or would it be smarter to get less of a loan and be sure I can cover the monthly payments with just my salary?  

I'm thinking I could get a house with more rooms for 250k, which I would rent out. 

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