As realtors, We’re often asked about new and innovative ways to invest in the real estate market. One approach that’s gained popularity in recent years is “house hacking.” 

What is house hacking?

House hacking is a type of investment strategy that allows real estate investors to maximize the potential of their investment by leveraging rental income to cover the costs of their mortgage, taxes, and other expenses associated with owning a property. Essentially, house hacking involves purchasing a property with multiple units (such as a duplex, triplex, or quadplex) and living in one of the units while renting out the other units to tenants. The rental income generated from the other units can then be used to offset the owner’s living expenses.

Benefits of House Hacking

One of the most significant benefits of house hacking is the potential for generating additional supplemental income. By renting out the other units, you can earn rental income that can help offset your mortgage payments, property taxes, and other expenses. This can be particularly helpful for first-time homebuyers who are looking to get into the real estate market but may not have a lot of disposable income to spare.

Lower Monthly Expenses

Another advantage of house hacking is that it can help lower your monthly expenses. By living in one unit and renting out the others, you can reduce your housing costs significantly. Additionally, if you choose to purchase a multi-unit property with a lower mortgage payment than you would typically qualify for, you can use the rental income to pay down the mortgage faster or invest in other properties.

Build Equity

Owning a property can be a smart way to build equity over time through investing. With house hacking, you have the potential to build equity more quickly by using rental income to pay down your mortgage faster. Additionally, when or if you choose to sell the property down the road, you have the opportunity to benefit from any appreciation in the property’s value since the time you originally purchased it.

Tax Benefits

Finally, house hacking can offer several potential tax benefits. For example, you can deduct your mortgage interest, property taxes, insurance premiums, and other expenses associated with owning and operating the property. Additionally, you may be able to claim depreciation on the portion of the property that you rent out, further reducing your taxable income. However, we are not professionals on tax advice and suggest you speak with a tax expert before house hacking or purchasing an investment property. 

House hacking is an excellent strategy for real estate investors looking for crafty ways to generate additional income, lower their monthly expenses, build equity, and enjoy potential tax benefits. If you’re interested in exploring this investment strategy further, it’s essential to work with a knowledgeable real estate professional who can help you find the right property and navigate the complex legal and financial aspects of real estate investing. Good thing you’re already in the right place to find one of said realtors. 

Newest MLS listings in Quinte and PEC

Browse the most recent MLS houses for sale in the Quinte area and Prince Edward County. Search real estate listings to find exactly what you’re looking for and narrow results. Ready to book a showing? Fill out the form on the listing page or email hello@quinteliving.com.

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For rent $2,990 Monthly
50 SUMMIT CRESCENT, Belleville, Ontario

50 Summit Crescent

Belleville, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Century 21 Parkland Ltd.
For rent $2,000 Monthly
297 MAIN STREET, Prince Edward County, Ontario

297 Main Street

Prince Edward County, Ontario

1 Bathroom 833 ft2
Harvey Kalles Real Estate Ltd.
For sale $430,000
27 THURLOW QUEEN STREET, Belleville, Ontario

27 Thurlow Queen Street

Belleville, Ontario

4 Bedroom 1 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $690,000
22 BUTLER STREET W, Brighton, Ontario

22 Butler Street W

Brighton, Ontario

5 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $1,100,000
4 CARLA COURT, Prince Edward County, Ontario

4 Carla Court

Prince Edward County, Ontario

3 Bedroom 3 Bathroom 2,500 - 3,000 ft2
Sutton Group Prince Edward County Realty Inc.
For sale OPEN HOUSE $499,900
19 NOTTINGHAM COURT, Quinte West, Ontario

19 Nottingham Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 1,100 - 1,500 ft2
Exp Realty
For rent $2,095 Monthly
107 - 20 HILLSIDE MEADOW DRIVE, Quinte West, Ontario

107 - 20 Hillside Meadow Drive

Quinte West, Ontario

2 Bedroom 1 Bathroom 800 - 899 ft2
RE/MAX Crossroads Realty Inc.
For sale $669,900
90 SANFORD STREET, Brighton, Ontario

90 Sanford Street

Brighton, Ontario

3 Bedroom 3 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $1,199,000
199 JERICHO ROAD, Prince Edward County, Ontario

199 Jericho Road

Prince Edward County, Ontario

1 Bathroom 90.82 Acres
Century 21 Green Realty Inc.
For sale $1,199,000
199 JERICHO ROAD, Prince Edward County, Ontario

199 Jericho Road

Prince Edward County, Ontario

4 Bedroom 1 Bathroom
Century 21 Green Realty Inc.
For sale $339,900
526 TRENTON FRANKFORD ROAD, Quinte West, Ontario

526 Trenton Frankford Road

Quinte West, Ontario

3 Bedroom 1 Bathroom 700 - 1,100 ft2
Royal LePage Proalliance Realty
For sale $679,900
12 HILL ROAD, Quinte West, Ontario

12 Hill Road

Quinte West, Ontario

5 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $749,000
89 LEDGEROCK COURT, Quinte West, Ontario

89 Ledgerock Court

Quinte West, Ontario

3 Bedroom 2 Bathroom
Century 21 King's Quay Real Estate Inc.
For sale $1,395,000
274 MAIN STREET, Prince Edward County, Ontario

274 Main Street

Prince Edward County, Ontario

4 Bedroom 4 Bathroom 2,500 - 3,000 ft2
RE/MAX Quinte Ltd.
For sale $1,350,000
112 LAKEHURST STREET, Brighton, Ontario

112 Lakehurst Street

Brighton, Ontario

3 Bedroom 3 Bathroom 1,500 - 2,000 ft2
RE/MAX Quinte Ltd.
For rent $3,475 Monthly
28 WEST STREET, Prince Edward County, Ontario

28 West Street

Prince Edward County, Ontario

4 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $569,900
79 CONGER DRIVE, Prince Edward County, Ontario

79 Conger Drive

Prince Edward County, Ontario

2 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $624,900
24 ORTONA CRESCENT, Prince Edward County, Ontario

24 Ortona Crescent

Prince Edward County, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $899,000
4 SPARTAN COURT, Quinte West, Ontario

4 Spartan Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 1,500 - 2,000 ft2
Royal LePage Frank Real Estate
For sale $505,000
44 VAN ALSTINE DRIVE, Quinte West, Ontario

44 Van Alstine Drive

Quinte West, Ontario

5 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Exit Realty Group
For sale OPEN HOUSE $524,900
12 HILLSIDE CRESCENT, Quinte West, Ontario

12 Hillside Crescent

Quinte West, Ontario

3 Bedroom 2 Bathroom
Century 21 Lanthorn Real Estate Ltd.
For sale $399,900
126 HENRY STREET, Quinte West, Ontario

126 Henry Street

Quinte West, Ontario

4 Bedroom 2 Bathroom
RE/MAX Quinte Ltd.
For sale $1,245,000
18 WINDWHISPER DRIVE, Belleville, Ontario

18 Windwhisper Drive

Belleville, Ontario

3 Bedroom 2 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale OPEN HOUSE $849,000
10 THOMPSON COURT, Belleville, Ontario

10 Thompson Court

Belleville, Ontario

5 Bedroom 4 Bathroom 2,500 - 3,000 ft2
Exp Realty