Stay in rental unit or move out and buy a home

Stay in rental unit or move out and buy a home

Adam GoyettePro Member
Ottawa, Ontario · Member since 2016 · 25 posts · 4 votes

Hey all,

so i currently own a duplex and a 4plex. I currently live in 1 apartment in the 4plex. Rents from other 3 units cover the mortgage and utilities. So i am close to living for free!

my question is, is it more worthwhile to get another tenant in MY unit and i go out and buy a house/ condo for myself which i would have to pay mortgage on but would be subsidized by new cashflow from 4plex. Or do i stay where im at? I am looking to expand my portfolio but i do not want to move every year!

any help/ input would be wonderful

thanks

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  • Real Estate Agent · St Petersburg, FL · Member since 2019 · 321 posts · 182 votes
    1y

    It comes down to your goals and the numbers.

    It is hard to say yes or no to your question without either of those.

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