In looking to find a new home, more and more people in the Ithaca market are seeking to buy a residence big enough for their own family and lifestyle, while having a rental unit attached or detached for the extra income it will produce to meet mortgage payments, taxes or in some cases both.
In Ithaca, with our long established and quite large college populations, this isn't too hard. Buyers can find a home with income unit in almost any price range and in every neighborhood. I found a great property for a recent buyer, who wished to find a single-family invest property under $200,000. Instead, we found a duplex well under $300,000. Twice the house!
Some people see cons to living in the main part of the home and renting out the apartment. You definitely give up privacy, even with the best tenants. And sometimes the additional revenue isn't enough to offset the open living atmosphere that results.
Anyone have any thoughts on this subject?
Here are some available:
http://ithacarealtors.com/search.asp?cmd=view&listing=128701
http://ithacarealtors.com/search.asp?cmd=view&listing=128828
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