Let’s talk house hacking: a term that’s been buzzing around social media but isn’t always clearly explained.
What is house hacking?
House hacking means living in one unit and renting out the other to help cover your mortgage. In some cases, that rent can cover the majority of your monthly payment. And, over time, the tenant helps build your equity.
For example:
Our new listing in Port Colborne is a legal duplex that’s fully renovated from the studs up, with new mechanicals, two furnaces, and updated electrical. It also sits on a 200-foot-deep lot with room for a potential third unit (an accessory dwelling).
This would be a very traditional and clear example of the type of property that one would "house hack".
Here's what you need to know about house hacking, before you consider it.
It’s not a get-rich-quick scheme, and it’s not for everyone.
But it is one of the smartest ways to start building wealth in real estate, especially in a market like Niagara where prices are still relatively accessible and demand for rentals is steady.
We’ve helped dozens of buyers run the numbers, figure out if the zoning works, and negotiate deals that set them up for long-term success. If you’re thinking about this path, talk to us and we’ll walk you through it without sugar-coating a thing.
Making smart moves starts with smart advice.
Reach us here: https://fishmangroup.ca/contact
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or call/text 905-808-0839