House Hacking first time buyer

[Kez Strong]

I am looking to purchase a duplex and occupy one of the units. With current prices in Palm beach & Broward county well into the 400s+ would it be normal to not at least break even when only putting 3-5% down? The way I am looking at it is to at least get 60% of the mortgage covered and I could hack out rooms in the unit I will be living in. Any flaws in my thinking above?

[Ray Hage]

I live in FTL too and agree with your thinking. If you're renting right now, you're probably getting killed so you'd be much better off if you can find the right place (SFH or duplex) to house-hack. I bought my house 2 years ago and house hacked. It helps cover a lot of the bills. I could house hack it further, but I like having more space for myself. Putting down only 3.5% should be able to cover at least 60% of the mortgage. A loan on a primary right now would be in the 5-6% range most likely.

Ideally (financially-speaking), you would Airbnb one side of a duplex and live on the other side (2/1 or 2/2) with a room mate. This would be a wise move if you plan on staying in Broward or PBC long term.