When you’re looking to buy a home, you might miss out on the best deal of your life looking at only individual residential properties when you could get a multi-unit property. You probably already know the advantages of owning a single-family home, but now look at the advantages of a suitable property for many families:

The price is not always higher. Pricing is often calculated in square feet, so if you buy a 2,500-square-foot home or a duplex with two 1,250-square-foot units, the price will often be similar. Sometimes you can find a place where one of the units has more square footage than the others on the property. You can choose to collect the rent for the larger unit or keep it to yourself and rent the smaller units.

Not everyone considers them. When most people think of finding a new place to live or rent, they often look at normal houses and never consider multi-unit listings. Also, many home searches don’t offer multi-unit property listings, making them a rarer find online. However, you can easily get them from a real estate agent. Your extra effort will be your advantage over other buyers who did not think to pursue these opportunities.

Keep your family close. Many people dream that all family members buy a house close to each other, or if one person wins the lottery, they will buy a house for everyone to give them a sense of security. You don’t have to dream. If you have enough money to buy a home with a good amount of square footage, you can probably afford a property where you can move your extended family.

Earn extra money. If you hate the idea of ​​making your mortgage payments every month and want to be able to take that money and spend it elsewhere, you can rent the other units and cover the mortgage without spending too much. By keeping the home until the loan is paid off, you can have a safe place to live without the added cost that most homeowners experience.

Qualify for FHA financing with up to four units. Currently, the FHA allows buyers to purchase a home with up to four units with a 3.5% down payment. You can get the same loan advantage as a regular home. However, more than four units will change their financing.