First-Time Homeowner

first-time homeowner

The older I get, the faster time seems to go, am I right?

With housing being one of the most basic human needs it stands to reason that you’re going to be paying for housing one way or another. You can either give your hard-earned money to a landlord or you can become a first-time homeowner. Becoming a first-time homeowner is easier than you think and here are the essentials to becoming a first-time homeowner. Here are the essentials for first time home buyers broken down. 

Stop wasting money and start investing in your future

Owning real estate is a commitment and I used to be intimidated by the idea of messing something up. After 15 years in the real estate industry, I’ve learned becoming a first time home buyer is easier than you think. Knowing which questions to ask and feeling secure enough to ask them is key to having peace of mind. Becoming a homeowner does not have to be an overwhelming and scary endeavor.

Looking back isn’t always a great way to move forward but sometimes reflecting on the past can be a huge asset in helping others avoid the same mistake… For example, one of the biggest mistakes we made keeps me up at night sometimes


Duplexes are like a diamond in the rough and can be really difficult to come by so patience is key, but oh man… that rental income slipped through our hands like sand, and I’m determined to help as many people avoid the same mistake as possible.

Firstly, let’s clarify some vocabulary

A single-family residence is a structure that is used as a single dwelling unit. Good examples of this would be a residential house, a condominium, or a townhome. 

A multifamily dwelling is housing where multiple families/people can inhabit the same building or several buildings all within one complex.

A duplex is the ideal first purchase. Why? Because if you buy an investment property and don’t live there the down payment is significantly higher. If you’re going to live there though the down payment percentage for a single-family house is the same as it would be if you were to purchase and reside in a multifamily property.  You’ll need to speak with your trusted lender to get more details on the financing but it’s a fantastic way to leverage your income

In short, you can become a first-time homeowner and pay 100% of the mortgage yourself, or you can become a first-time homeowner and have a tenant can reside in the second unit and cover a large portion of the mortgage. Some people struggle with the idea of becoming a landlord or living so close to someone else but find out what kind of real estate suites you best by taking my fun quiz HERE. If you’d like to chat more about the pros and cons of owning–and living in–a multifamily property, let me know!

All the best,

Carmen Neal Signature





six steps to becoming a homeowner



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