Buying Owner Occupied Income Property

Why choose to own and live in a building with tenants?

* Cash Flow: 

    Rental incomes generate cash flow from other units in the building. That     income can lower or completely offset property expenses and carrying costs.

* Location: 

    Income properties may allow individuals to live in neighborhoods that they     may otherwise not be able to afford by reducing the monthly carrying costs     of mortgages.

* Accommodations: 

    Inhabiting an income property may allow individuals to live in a larger or     more luxurious suite that costs less than if they were renting the same suite.

* Mortgage Eligibility: 

    A lender in assessing eligibility for a mortgage may use the income from a     property.

 

* Capital Appreciation: 

    The potential for capital gains if the property can be sold for more than was     bought.

* Tax Benefit Potential: 

    Gained by writing off mortgage interest against income. When you sell,     capital gains may be taxed at a lower rate than other forms of income and     there may be tax exemptions if the property is the principal residence.

* Beat Inflation: 

    Land becomes more valuable every year. As your property appreciates it     can provide a good hedge against inflation.