Could I have a comfortable househack in SD?

Question

Hi BP Friends,

I live in the bay area at the moment and was wondering what the prospects are for a Househack in SD.

I would like a comfortable househack and not having to share a kitchen. I say comfortable because the gf doesn't want the idea of having to see the tenants. Ideally separate... I don't know the area of San Diego well enough, but is it possible in SD? What prices am I looking at?

Thanks in advance!

Cathy S. · Answer

Hey Eric! I am currently house hacking a duplex in the North Park area of SD. I think what you probably want to look for is something like a small multifamily (e.g. duplex) or a single family home with a separate studio attached with 2 different entrances. I'm not sure how common it would be to find such a single family home. You could also do something like find a SFR, build an ADU in the backyard / convert the garage, and live in the ADU while renting out the main house.

Lots of options. As you are probably aware, the market is hot and don't last for many days on the market. Feel free to DM @Twana Rasoul. He helped me buy my first property, this duplex :)

Dan Portka · Answer

@Eric Long I'm from LA and imagine the market is similar in SD. Lots of house hackers here. In a high cost of living area you're not going to cash flow from house hacking, but considering all your rental income and expenses you can pay significantly less than you would renting a similar property. Plus you get all of the other advantages own owning: appreciation, lown paydown, and tax benefits. Duplexes are my favorite because you can utilize FHA's low down payment, FHA is a lot more difficult with 3-4 units. After a couple years of appreciation you'll likely be able to refi into a conventional mortgage, get rid of PMI, and move into a new duplex and rent out the unit you were living in (cash flow positive!).

Twana Rasoul · Answer

@Cathy Song @Eric Long Thanks for the mention Cathy! Eric, it is definitely possible to house hack here in San Diego and not have to share common space by purchasing a 2-4 unit property or a single family home with an Accessory Dwelling Unit (ADU) to live in one and rent the other unit(s) out.  I personally house hack a muli unit with my family as well.  There are multifamily units in quite a few decent areas and the recent purchases I've helped others house hacking have been in neighborhoods like Mission Hills, North Park, Hillcrest, La Mesa, Oceanside, Vista and City Heights.

Bryan Wogerman · Answer

The best way to accomplish this would be through small multi here in SD! There are a lot of opportunities to find properties that can meet what you are looking for. In fact, my wife and I are currently rehabbing a house with a triplex behind it with the plan to move into the front house. My wife (Natalie Frantz) is my real estate agent and is on the same team as Twana, mentioned from Cathy. Good luck with your search and welcome to SD!

Eric Long · Answer

@Cathy Song wow nice thanks for sharing! How do you like it so far? Anything you can share about your living and buying experience?

Could I have a comfortable househack in SD?

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