Buying a multi-unit property allows the homeowner to diversify his income and enjoy tax benefits -such as the deduction of building maintenance expenses. When the purchase is well planned and the economic context is favorable, the buyer benefits from a good return on his investment.
When buying a multi-unit property, the mortgage payment is reduced by the monthly rent paid by tenants. The occupation of one of the dwellings by the owner and his family can lower the minimum down payment, a benefit for first time buyers. Depending on the chosen location, several subsidy programs are also offered. At the time of purchase, many new buyers take the opportunity to get closer to their family, housing their children or their parents.
Depending on the city and neighborhood selected, buyers will have to choose the type of building that will meet their needs. A semi-detached duplex with a backyard, a row triplex with a garage, two or three bedrooms, proximity to a school … many features will attract potential tenants. It is up to the owner to assess and consider all of the family’s needs to ensure they also enjoy the property!
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