Blog Stories Your First Home Faster? Double Down On A Duplex.

Your First Home Faster? Double Down On A Duplex.

By Andy Meeks, September 18, 2018

A solid first-time homebuyer option that’s often overlooked – the duplex.

There are a lot of advantages to an owner-occupied duplex property, including leveraging better mortgage rates, lower downpayment requirements, and higher borrowing limits than would otherwise be required for a pure investment property. And it can be easier to find options in the more sought-after parts of town where one might be priced-out of single-family detached homes.

The strong rental market in Portland supports steady tenant demand, and the supplemental income can help build equity and wealth more quickly than a single-family detached home. AirBnB options abound, too, especially when one of the units is owner-occupied.

(Of course, duplexes are also an excellent non-owner occupied investment option, as they provide a buffer when one of the units is vacant, and are generally compact enough that maintenance is fairly straightforward.)

If you’re ready to be done with the live-in roommate, but don’t mind sharing a wall and some common spaces, it’s worth considering a duplex. There are a lot of options around town in all different styles, ages and price ranges.

This Forbes article has some great additional information, as well.

Let me know if you want to talk more about how this could work for you, or someone you know!

Living Room Realty

Licensed Oregon REALTOR® | Earth Advantage Broker | 971.400.0195 | PDX

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Andy Meeks

Earth Advantage Broker

My clients are always my top priority, and my singular focus is to help them achieve their goals efficiently and effectively. This is the intention I set every day, and how I define success. As a trained and licensed attorney, I lead with a sharp attention to detail, a keen ear and focused voice, and an unwavering commitment to integrity, transparency and responsiveness. I’m a passionate advocate and I thrive when helping others succeed, and I’m always available to connect over a cup of coffee to learn how I can help make good things happen. Read my client reviews here. The choice to become a real estate broker was a joyful combination of two very different careers. Prior to moving to Portland in 2008, I was an environmental and title closing attorney in Massachustts. Since then, I've served as a program manager and fundraising professional for Portland-based non-profit organizations Friends of Trees, The Freshwater Trust and Ecotrust. While not scouting homes and helping clients, you can find me riding and racing bicycles, digging in the garden, practicing yoga, experimenting in the kitchen, and exploring the stunning beauty of the Pacific Northwest. Please let me know how I can help you or someone you know. Thank you!
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