What is House Hacking?

House hacking is a strategy that lets you live in your home while renting out part of it to generate income, often by utilizing an accessory dwelling unit (ADU) or a basement apartment. For Utah homeowners, this means finding creative ways to make homeownership more affordable by offsetting the mortgage with rental income. House hacking isn’t just about lowering your housing costs—it's a pathway to building wealth and expanding your financial flexibility.

Why House Hacking Makes Sense in Utah

With rising home prices in Utah, particularly in growing areas like Salt Lake City, Utah Valley, and beyond, traditional homeownership can feel out of reach. House hacking changes that. Here’s why this strategy works especially well in Utah:

1. Reduced Housing Costs: By renting out part of your home, you can cover a significant portion of your mortgage, making homeownership much more affordable.
2. Building Equity: Paying down a mortgage with rental income allows you to build equity faster, opening the door to other investment opportunities.
3. Potential Tax Benefits: Many house hackers benefit from tax deductions associated with managing a rental property.
4. Flexibility: House hacking allows you to adapt to changes in life—whether you need more space, want to invest in another property, or simply seek additional income.
5. Thriving Rental Market: Utah’s strong rental demand, fueled by a growing economy and diverse job opportunities, makes it an ideal place to house hack.

How I Help Utah Homebuyers Get Started with House Hacking

Through my business, I guide Utahns on how to turn their home into an income-generating asset while enjoying affordable homeownership. Here’s how I can help:

1. Finding the Right Property: House hacking starts with choosing a home that meets your needs and is suited for renting. I help buyers identify homes with basement rentals or ADUs, ideally positioned to maximize rental income.
2. Turning Your Home into a Rental: Once you’re ready to house hack, I assist with the logistics of turning part of your home into a rental—everything from minor renovations to ensuring compliance with local regulations.
3. Teaching Self-Management: Managing a rental is the key to success in house hacking, so I offer training and resources to help you confidently manage your own property. My coaching covers tenant screening, lease agreements, and maintenance basics.
4. Supporting Your Journey to Financial Freedom: My goal is to set you up for success, providing the tools, insights, and confidence needed to make your homeownership journey rewarding and financially sound.

Ready to Start House Hacking?
If you’re interested in exploring house hacking and want guidance on getting started, book a call with me here. I’d love to discuss your goals and how I can help make affordable homeownership a reality for you.

Best,

Joel Jones

Realtor at Equity Real Estate (Advantage) License Number 5495075

Founder, Landlord Strategy

Website: www.landlordstrategy.com