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 $549,555
119 UNIVERSITY AVENUE, Belleville, Ontario

119 University Avenue

Belleville, Ontario

3 Bedroom 2 Bathroom 700 - 1,100 ft2
Royal LePage Proalliance Realty
For sale $549,000
22105 LOYALIST PARKWAY N, Quinte West, Ontario

22105 Loyalist Parkway N

Quinte West, Ontario

4 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Master's Trust Realty Inc.
For sale $549,000
21 DUNNETT BOULEVARD, Belleville, Ontario

21 Dunnett Boulevard

Belleville, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $625,000
341 CASEY ROAD, Belleville, Ontario

341 Casey Road

Belleville, Ontario

3 Bedroom 2 Bathroom 2,000 - 2,500 ft2
Royal Heritage Realty Ltd.
For sale $689,900
12 HASTINGS DRIVE, Quinte West, Ontario

12 Hastings Drive

Quinte West, Ontario

5 Bedroom 4 Bathroom 1,500 - 2,000 ft2
Royal LePage Proalliance Realty
For sale $409,900
12 - 1798 OLD HIGHWAY 2, Quinte West, Ontario

12 - 1798 Old Highway 2

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,400 - 1,599 ft2
Royal LePage Proalliance Realty
For sale $379,000
102 COUNTY ROAD 29, Prince Edward County, Ontario

102 County Road 29

Prince Edward County, Ontario

2 Bedroom 1 Bathroom 700 - 1,100 ft2
Keller Williams Energy Real Estate
For sale $750,000
1385 GLEN MILLER ROAD, Quinte West, Ontario

1385 Glen Miller Road

Quinte West, Ontario

3 Bedroom 3 Bathroom 1,500 - 2,000 ft2
RE/MAX Quinte John Barry Realty Ltd.
For sale $1,150,000
2867 COUNTY ROAD 15, Prince Edward County, Ontario

2867 County Road 15

Prince Edward County, Ontario

4 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Keller Williams Energy Real Estate
For sale $299,900
159 UNIVERSITY AVENUE, Belleville, Ontario

159 University Avenue

Belleville, Ontario

3 Bedroom 1 Bathroom 700 - 1,100 ft2
RE/MAX Finest Realty Inc.
For sale $1,799,000
3605 COUNTY RD 7, Prince Edward County, Ontario

3605 County Rd 7

Prince Edward County, Ontario

4 Bedroom 3 Bathroom 1,500 - 2,000 ft2
Harvey Kalles Real Estate Ltd.
For sale $1,099,000
1530 COUNTY RD 35, Prince Edward County, Ontario

1530 County Rd 35

Prince Edward County, Ontario

4 Bedroom 3 Bathroom 1,500 - 2,000 ft2
Coldwell Banker The Real Estate Centre
For sale $599,900
44 BLEEKER AVENUE, Quinte West, Ontario

44 Bleeker Avenue

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Exit Realty Group
For sale $649,999
49 COVINGTON CRESCENT, Belleville, Ontario

49 Covington Crescent

Belleville, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 ft2
RE/MAX Ace Realty Inc.
For sale $699,900
28 MILLS ROAD, Brighton, Ontario

28 Mills Road

Brighton, Ontario

2 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal Heritage Realty Ltd.
For sale $990,000
61 SUMMER BREEZE DRIVE, Prince Edward County, Ontario

61 Summer Breeze Drive

Prince Edward County, Ontario

4 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $799,900
1467 COUNTY ROAD 19, Prince Edward County, Ontario

1467 County Road 19

Prince Edward County, Ontario

2 Bedroom 2 Bathroom 2,500 - 3,000 ft2
RE/MAX Quinte Ltd.
For sale $749,900
29 CATTAIL CRESCENT, Quinte West, Ontario

29 Cattail Crescent

Quinte West, Ontario

4 Bedroom 3 Bathroom 1,100 - 1,500 ft2
RE/MAX Quinte John Barry Realty Ltd.
For sale $410,000
215 PINE STREET, Belleville, Ontario

215 Pine Street

Belleville, Ontario

2 Bedroom 1 Bathroom 700 - 1,100 ft2
Royal LePage Proalliance Realty
For sale $859,900
50 HAMPTON RIDGE DRIVE, Belleville, Ontario

50 Hampton Ridge Drive

Belleville, Ontario

3 Bedroom 3 Bathroom 2,000 - 2,500 ft2
Royal LePage Proalliance Realty
For sale $729,900
8 CREWS STREET, Quinte West, Ontario

8 Crews Street

Quinte West, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 ft2
RE/MAX Quinte Ltd.
For sale $187,000
47 - 311 DUNDAS STREET, Quinte West, Ontario

47 - 311 Dundas Street

Quinte West, Ontario

2 Bedroom 1 Bathroom 700 - 1,100 ft2
RE/MAX Quinte Ltd.
For sale $387,000
514 - 199 FRONT STREET, Belleville, Ontario

514 - 199 Front Street

Belleville, Ontario

2 Bedroom 1 Bathroom 900 - 999 ft2
Royal LePage Proalliance Realty
For sale $589,900
77 GAVEY STREET, Belleville, Ontario

77 Gavey Street

Belleville, Ontario

2 Bedroom 2 Bathroom 1,100 - 1,500 ft2
Royal LePage Proalliance Realty