Should you buy a duplex?

However, if you’re looking into buying a duplex, you may see the term “multifamily” loosely used to mean any house with multiple units. Buying a duplex is a great way to enter the real estate market as an investor and reap the benefits it can offer, including income generation, equity-building and wealth creation.

Should you buy a duplex or a single-family home?

Loan limits are higher for multiunit properties than for single-family homes. You won't make as much rental income as you could if you were renting out both units. You can build home equity at a faster pace. You may find it more of a struggle to sell a duplex compared to a single-family home.

How do I buy a duplex if I'm ready to move?

First, establish your homebuying budget. Then, estimate how much the market rate rent will offset your mortgage payment — and establish your plan for the added income. Do you want to save for a down paymenton a single-family home, then sell the duplex when you’re ready to move?