You Buy a Poconos, Stroudsburg or East Stroudsburg Duplex
There are positives and negatives to owning
a duplex. A duplex allows you to have rental revenue from
one side helping to reduce the financial burden of the total
mortgage payment. When qualifying for a mortgage in a duplex,
traditionally you will qualify as an owner occupied property
as long as you will be living in one of the homes. Because
of this you will get a loan with a lower interest rate (than
an investment owned property) as well as qualify for the normal
owner occupied down payment.
a duplex may make sense but you must keep the other united rented,
to a responsible renter with consitant income to gain a benefit
over a single family home.Getting a renter that pays the rent on
time and keeps the unit clean and in good condition is the goal,
and this is sometimes difficult to do. There is an additional burdon
of being responsible for maintenance of both homes. Which means
you must be prepared to fix and replace broken items in a timely
manner along with cleaning the carpets, applying a fresh coat of
paint, wvery so often. Keep in mind that there are more responsibilities
with a duplex as opposed to a single family house.
landlords have a lower probability of tenants damaging property
since you live next door.
a duplex has some tax shelter opportunities for most people (please
talk to you accountant prior to purchase). One of these is being
able to depreciate one-half of the duplex, and deducting the interest
on the mortgage for both units.