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 sale $665,000
644 SMOKES POINT ROAD, Prince Edward County, Ontario

644 Smokes Point Road

Prince Edward County, Ontario

3 Bedroom 3 Bathroom 0 - 699 ft2
Royal LePage Proalliance Realty
For sale $499,900
50 PRINCE OF WALES DRIVE, Belleville, Ontario

50 Prince Of Wales Drive

Belleville, Ontario

2 Bedroom 2 Bathroom 1,500 - 2,000 ft2
RE/MAX Quinte Ltd.
For sale $649,900
141 LESTER ROAD, Quinte West, Ontario

141 Lester Road

Quinte West, Ontario

4 Bedroom 3 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $449,000
100 WHITES ROAD N, Quinte West, Ontario

100 Whites Road N

Quinte West, Ontario

2 Bedroom 1 Bathroom 700 - 1,100 ft2
Century 21 Lanthorn Real Estate Ltd.
For sale $595,000
46 BARKER STREET, Prince Edward County, Ontario

46 Barker Street

Prince Edward County, Ontario

4 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Harvey Kalles Real Estate Ltd.
For sale $488,800
42 HIGHLAND AVENUE, Belleville, Ontario

42 Highland Avenue

Belleville, Ontario

4 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $739,000
33 KINGSLEY AVENUE, Brighton, Ontario

33 Kingsley Avenue

Brighton, Ontario

5 Bedroom 3 Bathroom 3,000 - 3,500 ft2
Royal Heritage Realty Ltd.
For sale $652,900
35 FOREST VALLEY DRIVE, Quinte West, Ontario

35 Forest Valley Drive

Quinte West, Ontario

4 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $799,000
1015 COUNTY 2 ROAD, Prince Edward County, Ontario

1015 County 2 Road

Prince Edward County, Ontario

4 Bedroom 3 Bathroom 2,500 - 3,000 ft2
Harvey Kalles Real Estate Ltd.
For sale $665,000
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 $279,999
UNIT C - 209 NORTH PARK STREET, Belleville, Ontario

Unit C - 209 North Park Street

Belleville, Ontario

3 Bedroom 2 Bathroom 1,000 - 1,199 ft2
Intercity Realty Inc.
For sale $949,000
39 SUMMER BREEZE DRIVE, Quinte West, Ontario

39 Summer Breeze Drive

Quinte West, Ontario

4 Bedroom 3 Bathroom 2,000 - 2,500 ft2
RE/MAX Community Realty Inc.
For sale $109,800
486 CTY RD 18 - 20 DRAGONFLY LANE, Prince Edward County, Ontario

486 Cty Rd 18 - 20 Dragonfly Lane

Prince Edward County, Ontario

2 Bedroom 1 Bathroom 700 - 1,100 ft2
Royal LePage Proalliance Realty
For sale $4,525,900
37 BELLAVISTA DRIVE, Prince Edward County, Ontario

37 Bellavista Drive

Prince Edward County, Ontario

6 Bedroom 5 Bathroom 5,000 - 100,000 ft2
Real Broker Ontario Ltd.
For sale $1,690,000
33 CARRYING PLACE ROAD, Quinte West, Ontario

33 Carrying Place Road

Quinte West, Ontario

10 Bedroom 8 Bathroom 5,000 - 100,000 ft2
Exit Realty Group
For sale $1,495,000
911-913 COUNTY ROAD 13, Prince Edward County, Ontario

911-913 County Road 13

Prince Edward County, Ontario

4 Bedroom 1 Bathroom 2,000 - 2,500 ft2
RE/MAX Quinte Ltd.
For sale $550,000
56 CORTLAND CRESCENT, Quinte West, Ontario

56 Cortland Crescent

Quinte West, Ontario

2 Bedroom 4 Bathroom 1,100 - 1,500 ft2
RE/MAX Quinte Ltd.
For sale $1,295,000
108 MURRAY STREET, Quinte West, Ontario

108 Murray Street

Quinte West, Ontario

4 Bedroom 4 Bathroom 2,500 - 3,000 ft2
Sandbanks Realty Ltd.
For sale $399,900
604 - 344 FRONT STREET, Belleville, Ontario

604 - 344 Front Street

Belleville, Ontario

2 Bedroom 2 Bathroom 1,000 - 1,199 ft2
Royal LePage Proalliance Realty
For sale $299,900
337 COLEMAN STREET, Belleville, Ontario

337 Coleman Street

Belleville, Ontario

4 Bedroom 2 Bathroom 1,500 - 2,000 ft2
RE/MAX Quinte Ltd.
For sale $499,900
322 COLEMAN STREET, Belleville, Ontario

322 Coleman Street

Belleville, Ontario

4 Bedroom 4 Bathroom 2,500 - 3,000 ft2
RE/MAX Quinte Ltd.
For sale $124,000
13 BEACH VIEW LANE - 486 COUNTY ROAD 18, Prince Edward County, Ontario

13 Beach View Lane - 486 County Road 18

Prince Edward County, Ontario

3 Bedroom 1 Bathroom 700 - 1,100 ft2
Royal LePage Proalliance Realty
For sale $2,695,000
229 MAIN STREET, Prince Edward County, Ontario

229 Main Street

Prince Edward County, Ontario

4 Bedroom 4 Bathroom 5,000 - 100,000 ft2
RE/MAX Quinte Ltd.
For sale $499,000
99 BUCHANAN STREET, Prince Edward County, Ontario

99 Buchanan Street

Prince Edward County, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 ft2
RE/MAX Realty Services Inc.