House Hacking Forever

8 Replies

I love being able to live for free and house hacking provides that opportunity. But what about 5+ years from now. What do you do? Would it be better to rent house or apartment? Taking your own expenses out of the question by house hacking is incredible. I would not be opposed to doing this indefinitely, but as some point, it would be nice to have a place that is independent of anyone else. Could someone provide some insight on this matter? Thanks in advance!

Hello Eric. First of all congrats on being successful at this so far. The answer to this question is going to be personal preference. Almost like the question "Is having a roommate a good idea?" To each their own. My wife and I would not mind house hacking indefinitely but we can see why a lot of people would would like their own separated living space. What you could do to solve both is house hack until they are both paid off. (Assuming duplex) Then rent them both out and allow the rents to cover your living expenses at your new, separated house. Win/win. 

@Eric Piccione I house hacked a SFH for 3 years. 2 years in, I was tired. I had lived with roommates for nearly 10 years at that point, so I wanted to find a MFH to hack. I imagine I would have lasted another year or two doing that, but I ended up moving in with my fiance before that happened, so I'll never know! I wish I could have convinced him to hack for a year or two.

I believe the layout of the property would matter as well. Not all MFHs are created equally. If the layout provides semi-privacy, it will be easier to deal with in the long-run. 

Originally posted by @Nicole Heasley :

@Eric Piccione I house hacked a SFH for 3 years. 2 years in, I was tired. I had lived with roommates for nearly 10 years at that point, so I wanted to find a MFH to hack. I imagine I would have lasted another year or two doing that, but I ended up moving in with my fiance before that happened, so I'll never know! I wish I could have convinced him to hack for a year or two.

I believe the layout of the property would matter as well. Not all MFHs are created equally. If the layout provides semi-privacy, it will be easier to deal with in the long-run. 

 Absolutely, it is not fun to hear the family next door partying at 1:00. Just have to make the walls thicker lol.

@Eric Piccione Side-by-sides tend to provide more privacy than up/down duplexes; you have your own separate entrances and it's easier to have separate garages and yards with that setup. You'll also be able to get more rent from quality tenants who can afford to pay extra for those amenities. 

Originally posted by @Nicole Heasley :

@Eric Piccione Side-by-sides tend to provide more privacy than up/down duplexes; you have your own separate entrances and it's easier to have separate garages and yards with that setup. You'll also be able to get more rent from quality tenants who can afford to pay extra for those amenities. 

 Beautiful, and then quadplexes would be the same as well? nothing changes as long as they are side by side? Once you go vertical you have to get more creative?

I would totally do househacking if I could find a duplex that wasn't crazy expensive or in D class neighborhood.

If you have a house with a basement you could make the basement a rental. I have seen a number of people do that. SFH or multifamily will both work.

Or if you can find a multifamily it would be the perfect way to be living free or very cheap.  And when you are ready for the next property you can rent yours out.  House hacking really is a great way to help build your savings.

@Eric Piccione I would imagine so. Most quads around me are apartment style--two units on top and two below. But every town is different. I would imagine there are different layouts for quads out there. 

@Eric Piccione

I’d rather house hack forever than work forever. But ya, having your own is nice too. Big difference between house hacking a 2-4 plex and having 3 roommates in your single family house.