How House Hacking Helped Jason Save $1,200 Monthly
- By Jim Blackburn
- on
Client Profile:
- Name: Jason
- Age: 29
- Occupation: Web developer (remote)
- Goal: Buy a home without feeling “house poor”
- Location: Denver, CO
The Situation
Jason was approved for a mortgage of up to $525,000. He originally looked at single-family homes but quickly realized the monthly payment would eat up 45% of his take-home pay.
He didn’t want to rent anymore — but he didn’t want to feel broke, either.
We introduced him to house hacking: buying a duplex, living in one unit, and renting out the other to help cover the mortgage.
The Numbers
- Purchase Price: $510,000
- Loan Type: FHA 3.5% down
- Monthly Mortgage (PITI): $3,486
- Monthly Rent from Other Unit: $1,295
Net out-of-pocket payment: ~$2,191/month (about $200 less than rent for a 1-bed apartment in the same area)
The Game-Changer
After 9 months, Jason refinanced into a conventional loan to remove PMI and lowered his total payment by another $270/month.
He now cash flows from the second unit and is saving for a triplex — planning to move again and repeat the process.
What Jason Said
“I didn’t know it was possible to buy a house and still come out ahead every month. This totally changed how I think about real estate. I’m living for free while building equity.”
Takeaway for Readers
If you’re open to living next to your tenant — or even just renting out a room — house hacking could wipe out your rent, reduce your risk, and launch your wealth plan much faster than traditional homeownership.
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