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Updated over 9 years ago on . Most recent reply
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First duplex house hack VS renting. Little to no money
So my current situation is this. My current lease is up by the end of December. I'm currently staying with my mom and little sister.
Now, I have about a month and a half before I move out. I was going to rent a 1 bedroom apartment for myself. But I figured if I could buy instead of rent, why not buy? My mom starts telling me about what am I going to do when things break, or if unforeseen issues pop up? And I don't really have an answer to that which makes me question, what would I do? All I have going in would just be my down payment.
So, with just enough money for a down payment to get in the duplex. Would it be smart to move in with the intention of renting out the other unit and continue saving money or should I just continue to rent and save money?
I feel like I can easily get into a duplex and continue saving and putting away money for unexpected issues that arise later (assuming the property is in good condition, and I should be alright, long as I factor out the possible expenses. What're your thoughts?