We have the option to purchase one of two things:
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A single family dwelling with a detached garage-turned-energy efficient apartment. The apartment generates $500/month in rent. The home sits on a corner lot and is a bit of a fixer-upper. The owner has agreed to renovate parts of the home/apartment and sell both for $92k. We would put a privacy fence between us and the apartment and use someone else to collect rent, etc.
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We also have been approved for a $95k loan. The homes in our area/price range seem to be meh. Nothing super special. The housing market is in high demand.
So my question is, do we purchase the home w/ the rental for less and live a little bit less comfortably for a few years? Or do we purchase a newer home without the worries of things breaking and tenants, etc?
I can tell you that we have 1 small child and have a less-than-busy lifestyle outside of work. Our current situation is that we live with my husband's parents and our relationship is as tumultuous as ever. Our timeline on needing to leave is SOON.
Please help, I am plagued by this.
Submitted June 28, 2017 at 09:54AM by ennylove72 http://ift.tt/2uhUIU3
