 TITLE: 3 Reasons to Buy a Multifamily Home CONTENT: What to Consider Before Buying a Multifamily Property\n-----------------------------------------------------\nBefore making a bid on a multifamily property, it's wise to consider the following details:\n*   **Your financial health:** Like other types of investments, you'll want to make sure you're on solid financial ground before pursuing a multifamily home. In addition to the costs associated with buying the home, you'll also need to be ready to address maintenance issues big and small. This can include everything from a leaky roof to a burst pipe. Costs related to homeowners insurance and property taxes will fall on you as well. It's also smart to pay down high-interest debt and build up your emergency fund before investing in a multifamily home to avoid financial stress that could harm your credit.\n*   **Your ability to be a landlord:** Be prepared to find reliable tenants, which involves screening applicants and running background and credit checks. From there, you'll have to make yourself available to fix problems with the property as they arise. Hiring a property manager can take this weight off your shoulders, but adds another expense to your ownership costs.\n*   **Your potential return on investment:** Buying a multifamily home doesn't guarantee future investment returns. The housing market in your area will play an important role in helping you determine if a property is right for you. Is it likely to attract tenants? And what do the average market rents and property taxes look like? Also consider whether the property values in the area are increasing or decreasing. You'll also want to factor in the cost of your down payment, monthly mortgage and closing costs. END