What Is House Hacking, and How Can It Benefit Me
- By Jim Blackburn
- on
- 100 first time home buyer FAQs
1. House Hacking Means Living in Your Investment
House hacking simply means buying a property and renting out part of it while you live in the other part. This can look like:
- A duplex or triplex where you live in one unit and rent out the others
- A single-family home with a basement apartment or garage suite
- Renting out individual rooms in your home (ideal for younger or solo buyers)
The rent you collect can cover part—or even all—of your mortgage.
2. You Could Live for Free (or Close to It)
Imagine this: Your mortgage is $2,000/month, but your downstairs tenant pays $1,500. That means:
You live in your home for just $500/month Or you live for free if the rent covers the full mortgage You’re also building equity and reaping the tax benefits of homeownership
Even if it doesn’t fully cover your payment, house hacking can drastically reduce your cost of living while giving you long-term financial leverage.
3. It’s a Launchpad Into Real Estate Investing
House hacking is often the first step for new investors because:
- It qualifies for owner-occupied financing, which means lower rates and down payments
- You learn how to manage a property while still living on-site
- You can repeat the strategy after moving out, turning your first home into your first rental
It’s one of the smartest ways to live for less now—and build wealth for later.
Not Sure If Dual Agency Is Right for You? Let’s Talk It Through
Download our free “House Hacking 101” eBook — includes property setup ideas, rental calculators, and beginner investor tips
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Schedule a call with a Stairway Mortgage advisor to see what’s possible in your market
At Stairway Mortgage, we help first-time buyers think like investors—
because smart leverage builds wealth.
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