Have you entered the $50 Target gift card giveaway?
I got a few emails from ya'll when I announced we bought a new home last week..."Didn't you just buy a home recently?" The answer is yes--we bought a duplex a year and a half ago, and have fixed it up and lived in one half of it with the intention of it being an investment property. 
Also, the current house we bought has a daylight basement that is rented out. When we were looking at buying another home, we only considered homes that had rentable space. Knowing we were collecting three rents allowed us to look at homes with higher price points. And with interest rates being at an all time low, our new mortgage is actually less than our mortgage on the duplex. I couldn't believe it when I actually saw the numbers.
We also make money on the extra rooms in our house. If we're not hosting a foreign exchange student, we're renting out a room on airbnb. PLUS, we both work full time--all of this is how we are affording phase one of the remodel on the new house. The house needs a complete remodel, but for now we can only budget for the kitchen and living area. Because I mean...look at this kitchen.
More before pics of the house will be on the blog tomorrow--stay tuned!
This is such a big move, wow, I can not wait to see more!
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Kelly
Sparkles and Shoes
that is awesome! i was wondering the same thing but wasn't sure if it was polite to ask, lol.
ReplyDeletei completely agree that it is such a great move!
can't wait to see what you do with your new home!
That is so awesome! My husband and I are currently saving to buy our first place and we are only looking at duplexes. It makes much more sense to us to have someone else helping to pay the mortgage, and my husband is a contractor so he can do all the work himself and get materials for a bit cheaper. This post just made me even more excited about our time to buy. You should be very proud of yourself! That's quite an accomplishment.
ReplyDeleteRebecca
Www.frugalfashionmommy.blogspot.com
I LOVE how smart you guys are with your money. And I love how you are willing to share to help others understand as well. I have to admit, living in California, I was always a bit jealous of people being able to buy duplexes and rent one side out. When we bought our first home in LA, duplexes were running about a million (this was at the height of the market) and there was no way we could afford one.
ReplyDeleteHow exciting for you guys! I can't wait to see the remodel of your new home!
ReplyDeletecongrats.
ReplyDeletei'm a new follower.
I love how you answered a question I'm sure most of us were thinking! :) You're so considerate Ruthy and I can't wait to see how the house turns out!
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