Source: The Ascent —
Depending on where you live in this great big country of ours, you likely have several options when it comes to buying a house. I live in a neighborhood (and indeed, a city) full of multi-family houses, and in fact, I currently live in one as a renter.
While I am intending to buy a single-family home in this area (we have plenty of those too), if you like the idea of owning a home that could also be an investment opportunity, buying a multi-family house to live in (which has also been called “house hacking”) could be right for you. Let’s have a look at some pros and cons.
Pros of buying a multi-family home
Here are the bright spots to look forward to if you decide to make an offer on that charming two-family house for sale up the block.
Pro No. 1: You can be a landlord in your very own home
One way to make renting out a property to other people easier is to actually live on-site yourself. If something goes wrong in your rental unit, you’re right there to fix it (or call someone who can), and can have the peace of mind that comes from knowing that a water leak or other problem isn’t going untreated. You’ll also have the opportunity to get to know your tenant(s) as people, rather than just a monthly rent check.
Pro No. 2: It’s an entryway to real estate investing
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