Imagine a steaming cup of coffee in your hand, the sunlight streaming through the window, with the satisfaction that strikes you to be living in the house you own – none of it weighed down by a hefty mortgage payment. This dream can be a reality through house hacking—a very ingenious real estate strategy for living either rent-free or nearly rent-free. This blog’s all about house hacking and some creative ways to do so in conjunction with Real Estate Dekho.
House hacking basically is the process of purchasing a property in which you are going to occupy a share while letting out the rest. You use the received rent to pay your mortgage, property tax, and other house expenses. You literally turn your property into an investment to help you firmly pay for yourself.
Unleash Your Inner House Hacker with These Creative Hacks:
· Roommate Route – The Classic Way Well: This is indeed the most common of all house hacking strategies. You can either rent out an extra bedroom or convert your basement into a liveable unit with a separate entrance. Doing so would give you a distinct unit for the tenant without sacrificing too much of your space.
· Beyond Bedrooms – Accessory Dwelling Units (ADUs): Now, if you have the space and your local government allows it, here is what could be an opportunity to create an ADU on your property. A tiny house or converted garage with its kitchen and bathroom enjoys a separate dwelling unit offering huge rental possibilities.
· House Hacking for Social Butterflies – Co-living Arrangements: A big house shared with compatible persons; each having his bedroom and bathroom, although the kitchen, living room, etc., are provided and shared. This really does encourage a sense of community and really opens the doors to a higher potential rental income.
· House Hacking for Hospitality Lovers – Short-Term Rentals: Many platforms offer short-stay rentals of a single room or the whole property when the owner is away. These require more management efforts in cleaning and communication between the host and guests. The extra income to be earned through short-term rentals can be huge, especially in popular tourist places far from the city’s outskirts or the busy city centers.
Real Estate Dekho: Your House Hacking Partner to Success
The perfect property for house hacking can be pretty tricky to find. Real Estate Dekho steps into the picture here. You can enlist your extra space on the website of Real Estate Dekho. Our marketplace contains the end numbers of tenants looking for a rented place. It will ease your job to find the right tenants for yourself.
Enjoy The Journey of House-Hacking
House hacking can be very exciting and financially rewarding. Careful planning with one’s strategy and detailed research into the process are prime ingredients of making anything successful. It may mean talking to financial advisors and property lawyers to undertake the chosen strategy to ensure that it conforms to one’s financial goals and is within the boundaries of the law.Want to unlock the door to almost mortgage-free living? Real Estate Dekho is here to guide you to kick-start your house hacking journey today, not alone but with a trusted hand. They can be your one-stop shop for all needs pertaining to property and empower you on the way to almost mortgage-free living.
