"Savvy Millennials Are 'House Hacking' Their Way To Homeownership And Rent-Free Living"

[leno...@yahoo.com]

https://money.com/money/longform/millennial-house-hackers/?utm_source=pocket-newtab

First paragraphs:

Like a lot of millennials, Craig Curelop lives with roommates to save money. One big difference? He’s their landlord.

In a housing market where young people struggle to afford a home, Curelop already owns three of them. He is a “house hacker,” a term he and other like-minded homeowners use to describe someone who lives a low- or no- rent lifestyle by buying a house and renting out the extra space.

The 26-year-old Denver-based blogger shares his six-bedroom, three-bathroom home with two long-term roommates and a rotating cast of vacationing Airbnbers. Curelop’s two roommates together pay $1,550. He takes in another $2,000 from short-term Airbnb travelers. The total $3,550 covers his $2,100-a-month mortgage, with plenty left over.

While the living arrangement has occasionally called for compromise — Curelop says he spent a year sleeping on a futon in his living room while renting out his former bedroom in his first house — the lifestyle has allowed him to max out his 401(k), take a trip to Thailand and cover an unexpected $2,000 hospital bill after an accident last year, he says.

Not everyone understands why a person would buy a house just to take in roommates — and that’s fine by Curelop. “You’re never going to be similar to your peers,” when you live frugally, he says, “so you really shouldn’t listen to them.”...

(snip)




Lenona.