House hacking enables homeowners to rent out portions of their home or multi-family property to alleviate or eliminate housing costs. It has gained popularity as housing costs soar, offering a more affordable route to homeownership for those who might face financial barriers. Many individuals pursue house hacking not only to lower living expenses but also as a stepping stone in real estate investing. While some may achieve profitability, others primarily seek relief from the high costs associated with homeownership amid elevated mortgage rates.
House hacking is a strategy where homeowners rent out part of a single-family home or units in a multifamily property to offset or even eliminate housing costs.
House hacking offers an achievable path into homeownership without bearing the full financial burden alone, helping buyers to hack the market by lowering costs.
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