What is House Hacking in Real Estate?
Hello Hampton Roads, Coming off a hot housing market with spiking home sale prices, housing affordability at all time lows. Many folks are looking for ways to help ease this burden and reduce their out of pocket housing payments and where there's a will there's a way--enter "house hacking"! What is house hacking in real esate? While the concept isn't new it involves creative ways for people to more easily afford their housing payments by making the house pay for itself. Let me explain: You basically turn your house into a productive assset by making it help you generate an income. A little flexibility and an open mind can lead to large savings and these days house hacking goes beyond renting out a room. If this situation decribes you, let's explore some of the things you can do right away to get started! Renting Out a Multi-FamilyProperty As a home owner living in a mulitfamily home (2-4 units), you can live in one unit and rent out the rest. Owning a
