{"id":1842,"date":"2022-06-23T18:16:57","date_gmt":"2022-06-23T18:16:57","guid":{"rendered":"https:\/\/blog.ark7.com\/?p=1842"},"modified":"2023-05-18T03:25:47","modified_gmt":"2023-05-18T03:25:47","slug":"house-hacking","status":"publish","type":"post","link":"https:\/\/ark7.com\/blog\/learn\/glossary\/house-hacking\/","title":{"rendered":"House Hacking"},"content":{"rendered":"
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What is house hacking?<\/b><\/h2>\n

The term\u00a0house hacking\u00a0refers to the strategy of buying a property and using it as a primary residence while also renting out a bedroom, basement, or an additional unit of the property to someone else. Essentially, house hacking is a way for a homeowner to live virtually expense-free or have their mortgage partially covered by the money they receive from their tenants. The tenants may be short-term or long-term renters.<\/span><\/p>\n

There are a number of different ways to go about house hacking. One way a homeowner can house hack is by purchasing a single-family home, living in the property, and then renting out a spare bedroom or the basement area of the home. Another way a homeowner can house hack is by purchasing a multi-family rental property, living in one of the units, and then renting the other units out to paying tenants.<\/span><\/p>\n

The rent garnered would help cover the property\u2019s monthly mortgage payment and any additional house expenses. In addition, check out some of the other key benefits house hacking provides to investors below.<\/span><\/p>\n