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Updated over 9 years ago on . Most recent reply

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27
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10
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Akwasi Degraft
  • Harlem, NY
10
Votes |
27
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Any successful House hacking in Westchester NY?

Akwasi Degraft
  • Harlem, NY
Posted
House hacking seems to be a great way for me to get started but I understand Westchester, NY might be difficult because of the high prices. Are there any successful house hackers in the Westchester area?

Most Popular Reply

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83
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16
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Tara Ballenger
  • Real Estate Agent
  • Portland, OR
16
Votes |
83
Posts
Tara Ballenger
  • Real Estate Agent
  • Portland, OR
Replied

 @Jerry Padilla

I definitely agree. In high priced markets, you have to consider not only appreciation, but possible savings over renting. I'm in Portland, and here, it's very common for adults to have roommates just to be able to pay rent (which can quickly exceed $1,000/month for a one bedroom apartment). If you can rent out rooms of a SFH you own, you're not only having other people pay a considerable chunk of your mortgage as the property appreciates, but you're often saving outright over just renting. Same goes for FHA owner occupied plexes (if you can get the numbers to work). Every market is different and the definition of success is relative.

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