It appears that Austin duplex values are tapering off, which means it is a great opportunity for buyers. A good quality Austin duplex, depending on the desired area, may be in the $170k to $220k price range. Considering the median home price of Austin is about $220k, this represents a great value and opportunity: start home ownership AND an investment at the same time. Someone told me, “I don’t want to live in a duplex forever…” Well you don’t have too – consider living there for a short time (maybe 1 year) then upgrade yourself with a bigger duplex or single family house. A duplex is already has the benefits of a house: front yard, back yard, and garage. Be a serial duplex buyer and get the great owner-occupant interest rates versus the higher investor interest rate.
An owner-occupant could buy a duplex and rent out one side for possibly $900 to $1,100 range on rent. So if your total mortgage payment was $1800, for example, the net difference could be: $1,800 minus $1,000 = $800 net monthly payment.
Thanks for reading.
Hong and Dianne Lee
DuplexDianne.com Team
