Forum Archive

We’ve been thinking to buy a coop in Ditmas Park, Sunset Park, or a similar nabe. Lately, though, I’ve noticed a couple of 2-family houses that, if we were to rent out half the house, would leave us paying only slightly more on a mortgage than we’d be paying in mortgage + maintenance in a much smaller coop. I love the idea of having our own house that we could expand into as our family and (hopefully!) income grow. But I’m wondering whether it’s smart to count on rental income – because it would be a helluva stretch to afford without it. Assuming that the rental is in decent shape, is this common? Do people generally figure they’ll be able to rent out the apartment to afford their mortgage? Or is that hideously ill-advised?