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 $151,200
LOT 38 MCDONALD DRIVE, Prince Edward County, Ontario

Lot 38 Mcdonald Drive

Prince Edward County, Ontario

1 Acres
Century 21 Lanthorn Real Estate Ltd.
For sale $226,800
LOT 34 MCDONALD DRIVE, Prince Edward County, Ontario

Lot 34 Mcdonald Drive

Prince Edward County, Ontario

1 Acres
Century 21 Lanthorn Real Estate Ltd.
For sale $117,000
LOT 29 MCDONALD DRIVE, Prince Edward County, Ontario

Lot 29 Mcdonald Drive

Prince Edward County, Ontario

1 Acres
Century 21 Lanthorn Real Estate Ltd.
For sale $157,600
LOT 37 MACSTEVEN DRIVE, Prince Edward County, Ontario

Lot 37 Macsteven Drive

Prince Edward County, Ontario

1 Acres
Century 21 Lanthorn Real Estate Ltd.
For sale $869,000
82 OUTLET ROAD, Prince Edward County, Ontario

82 Outlet Road

Prince Edward County, Ontario

2 Bedroom 2 Bathroom 700 - 1,100 ft2
Exit Realty Group
For sale $229,000
313 KINGS ROAD, Prince Edward County, Ontario

313 Kings Road

Prince Edward County, Ontario

0 - 699 ft2
Century 21 Lanthorn Real Estate Ltd.
For sale $535,000
16 ELKS STREET, Prince Edward County, Ontario

16 Elks Street

Prince Edward County, Ontario

2 Bedroom 3 Bathroom 1,100 - 1,500 ft2
The Agency
For sale $1,340,362
16 BEREND COURT, Quinte West, Ontario

16 Berend Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $1,261,362
14 BEREND COURT, Quinte West, Ontario

14 Berend Court

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $1,570,362
9 BEREND COURT, Quinte West, Ontario

9 Berend Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $1,207,362
1 BEREND COURT, Quinte West, Ontario

1 Berend Court

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $1,261,362
4 BEREND COURT, Quinte West, Ontario

4 Berend Court

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $1,281,362
6 BEREND COURT, Quinte West, Ontario

6 Berend Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $1,341,362
12 BEREND COURT, Quinte West, Ontario

12 Berend Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $1,517,362
2 BEREND COURT, Quinte West, Ontario

2 Berend Court

Quinte West, Ontario

3 Bedroom 3 Bathroom 2,500 - 3,000 ft2
Royal LePage Proalliance Realty
For sale $675,000
147 BALDWIN STREET, Brighton, Ontario

147 Baldwin Street

Brighton, Ontario

4 Bedroom 3 Bathroom 1,100 - 1,500 ft2
Exit Realty Group
For sale $1,599,000
PT LT 3 CON 1, LOYALIST PARKWAY, Prince Edward County, Ontario

Pt Lt 3 Con 1, Loyalist Parkway

Prince Edward County, Ontario

Exp Realty
For sale $539,000
8 VILLAGE DRIVE, Belleville, Ontario

8 Village Drive

Belleville, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Exit Realty Group
For sale $168,900
18 ALICE AVENUE, Quinte West, Ontario

18 Alice Avenue

Quinte West, Ontario

Exit Realty Group
For sale $82,500
CBL035 - 486 COUNTY RD 18, Prince Edward County, Ontario

Cbl035 - 486 County Rd 18

Prince Edward County, Ontario

2 Bedroom 1 Bathroom 0 - 699 ft2
Royal LePage Proalliance Realty
For sale $699,900
120 HASTINGS PARK DRIVE, Belleville, Ontario

120 Hastings Park Drive

Belleville, Ontario

4 Bedroom 3 Bathroom 1,100 - 1,500 ft2
RE/MAX Quinte Ltd.
For sale $1,198,900
1727 COUNTY 14 ROAD, Prince Edward County, Ontario

1727 County 14 Road

Prince Edward County, Ontario

6 Bedroom 8 Bathroom 2,000 - 2,500 ft2
Keller Williams Energy Real Estate
For sale $549,900
38 CORTLAND CRESCENT, Quinte West, Ontario

38 Cortland Crescent

Quinte West, Ontario

3 Bedroom 4 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty
For sale $999,000
96 ARANDA WAY, Brighton, Ontario

96 Aranda Way

Brighton, Ontario

3 Bedroom 3 Bathroom 1,500 - 2,000 ft2
Exp Realty