Photo courtesy Kolin Toney
Photo courtesy Kolin Toney

When choosing your first home do not overlook the possibility of moving into a duplex as it may provide you with certain benefits such as tax benefits and mortgage advantages. In a piece contributed to Forbes, Trulia lists the five reasons why you should choose a duplex for your first home.

One of the reasons listed was the mortgage advantages that you would be eligible for such as a lower rate if you plan to occupy one of the two units as well as further benefits if you rent the other side out :

If you plan to rent out the other side, you might also qualify for a larger mortgage. “Many lenders will allow you to include part of the potential rent into your income when qualifying for a mortgage,” says Eric Bowlin, a Massachusetts real estate investor. “This may allow you to qualify for more than you otherwise may have received.”

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