How to Have Someone Else Pay Your Mortgage
A new generation of homebuyers is looking at multi-flat buildings as a way to snag their city dream home, Chicago Grid reported. For young Chicagoans, the idea of renting in a two-flat may be more familiar than the prospect of buying one. But as the housing market bounces back, a wave of first-time homebuyers are scrambling to snap up homes with two to four units.
The allure is clear: more house for your money. Financial modeling from Access Chicago Realty shows that rental income in a three-flat could reduce the typical homebuyer’s out-of-pocket payments by around 60 percent.
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Is your home protected? Contact a Chicago-area Allstate Agent to discuss homeowners insurance policies.