Buyers are becoming Dual Owners. As home values continue to rise and interst rates remain low, more home buyers are choosing to keep their first home while purchasing their second home. The proactice has been occurring for the last few years for three reasons: real estate markets are doing so well it is considered a “safe” investement; lenders have programs tailored to second home purchases that do not penalize the buyer as they have in the past; and rental prices for homes are not keeping pace with home prices so renting is an attractive option for many people increasing the likelihood that dual home buyers will find tenants for their rental properties.Â

    But “leveraging up” has its risks that must be measured carefully before entering into this situation. Before piling on debt, a buyer needs to understand which loan program works best, how to use the equity in their current home, and the costs of maintaining and managing two properties. Please call or email us if you would like to evaluate whether being a Dual Owner is right for you. We want success stories for all of our buyers!

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