House Hacking: A Quick Overview

What is House Hacking?
House Hacking is a phrase coined for the strategy of renting out a portion of one’s primary residence in order to offset a portion of the mortgage and property expenses. While the idea itself is nothing new, its popularity has increased significantly in recent years as housing affordability continues to dwindle. In parts of the country such as parts of the Midwest or the South, is it totally possible for a buyer to purchase a property to house hack and entirely offset their mortgage. In higher cost areas such a Southern California, particularly San Diego, the expectation is to be able to offset a significant portion of the mortgage payment.