[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1m7d4o6pkxyph":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},35672,"how-to-turn-homeownership-into-a-side-hustle","How To Turn Homeownership into a Side Hustle","\u003Cp>Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach?\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-How-to-Turn-Homeownership-into-a-Side-Hustle.png","\u003Cp>Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? \u003Ca href=\"https:\u002F\u002Fwww.bankrate.com\u002Fpersonal-finance\u002Fside-hustle-survey\u002F#millennial-gen-z\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to \u003Cem>Bankrate\u003C\u002Fem>, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who may be dealing with student loan debt (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-Nearly-two-in-five-US-adults-have-a-side-hustle.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-Nearly-two-in-five-US-adults-have-a-side-hustle.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>Here are two strategies that can not only make \u003Ca href=\"\u002F2023\u002F11\u002F23\u002Fwhy-homeowners-are-thankful-they-own\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">homeownership\u003C\u002Fa> more affordable in the short term, but turn it into a lucrative side hustle that can pay off down the road.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Transforming the Challenge of a Fixer-Upper into an Opportunity\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>One thing you could do to help you break into homeownership is consider purchasing a fixer-upper. That’s a \u003Ca href=\"\u002F2023\u002F11\u002F21\u002Fare-there-actually-more-homes-for-sale-right-now\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home\u003C\u002Fa> that may be a bit less appealing and as a result has lingered on the market longer than normal. \u003Ca href=\"https:\u002F\u002Frealestate.usnews.com\u002Freal-estate\u002Farticles\u002Fbuying-a-fixer-upper-everything-you-need-to-know\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to a recent article from \u003Cem>U.S. News\u003C\u002Fem>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“The current state of the housing market may have you expanding your options to try to find a home that you can afford. \u003C\u002Fem>\u003Cstrong>\u003Cem>A fixer-upper that needs some updating and a little love can feel like a welcome alternative to move-in ready houses that go off the market before you can even take a tour.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>By opting for a home that requires some work, you may see two big benefits. For starters, you may find it’s easier to find a home because you’re not looking for that perfect option. Plus, it may also help you enter the housing market at a lower \u003Ca href=\"\u002F2023\u002F11\u002F22\u002Fhome-prices-still-growing-just-at-a-more-normal-pace\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">price point\u003C\u002Fa>. This strategy provides a more affordable way to \u003Ca href=\"\u002F2023\u002F11\u002F08\u002Fthinking-about-using-your-401k-to-buy-a-home\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">become a homeowner\u003C\u002Fa> while also offering the potential for future profits.\u003C\u002Fp>\u003Cp>Yes, the home may need a little elbow grease, but investing time and effort into gradually enhancing your house not only makes it a home but also increases its future market value. So, while you enjoy the satisfaction of turning a house into a home, you're also \u003Ca href=\"\u002F2023\u002F11\u002F07\u002Fhomeowner-net-worth-has-skyrocketed\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">building equity\u003C\u002Fa> that can be unlocked when it's time to sell.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Renting Out a Portion of Your Home To Make It More Affordable\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Another savvy strategy is to \u003Ca href=\"\u002F2023\u002F11\u002F03\u002Fthe-benefits-of-buying-a-multi-generational-home-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">purchase a home\u003C\u002Fa> with the upfront intention of renting out a portion of it. \u003Ca href=\"https:\u002F\u002Fzillow.mediaroom.com\u002F2023-11-16-Interest-in-house-hacking-explodes-among-Millennial-and-Gen-Z-home-buyers-seeking-extra-income\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to a recent press release from \u003Cem>Zillow\u003C\u002Fem>, renting out a part of their home is already very important for most young homebuyers (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-Percent-of-buyers-who-find-it-very-or-extremely-important.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-Percent-of-buyers-who-find-it-very-or-extremely-important.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>This approach serves a strong purpose. As Manny Garcia, Senior Population Scientist at \u003Cem>Zillow,\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fzillow.mediaroom.com\u002F2023-11-16-Interest-in-house-hacking-explodes-among-Millennial-and-Gen-Z-home-buyers-seeking-extra-income\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“For those first-time buyers navigating the ‘side hustle culture,’ where a regular 9-to-5 might not quite cut it for homeownership dreams, \u003C\u002Fem>\u003Cstrong>\u003Cem>rental income can step in to help \u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>. . .”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>Basically, it can help you afford your monthly mortgage payments. So if you’re open to it, renting out a portion of your home not only helps with \u003Ca href=\"\u002F2023\u002F11\u002F16\u002Fpeople-are-still-moving-even-with-todays-affordability-challenges\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">affordability\u003C\u002Fa>, but it also positions you as an investor and turns \u003Ca href=\"\u002F2023\u002F11\u002F01\u002Fwhat-are-accessory-dwelling-units-and-how-can-they-benefit-you\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">your home\u003C\u002Fa> into a source of income.\u003C\u002Fp>","\u003Cp>In the face of today’s \u003Ca href=\"\u002F2023\u002F11\u002F14\u002Fhome-prices-keep-climbing-in-most-markets\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">affordability challenges\u003C\u002Fa>, both of these strategies offer more attainable paths to \u003Ca href=\"\u002F2023\u002F11\u002F24\u002Fwhy-homeowners-feel-thankful-for-their-homes-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">homeownership\u003C\u002Fa>, especially for younger buyers. If you want to discuss these options and see how they might play out for you in our local market, let’s connect.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231204\u002F20231206-Nearly-two-in-five-US-adults-have-a-side-hustle.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up",{"id":30,"name":31,"slug":32},53,"Rent vs. Buy","rent-vs-buy","2023-12-06T11:30:00Z","2023-12-19T18:03:33Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},35111,"when-you-sell-your-house-where-do-you-plan-to-go","When You Sell Your House, Where Do You Plan To Go?","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231128\u002F20231204-When-You-Sell-Your-House-Where-Do-You-Plan-To-Go.png","2023-12-05T11:30:00Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},35056,"why-you-need-to-use-a-real-estate-agent-when-you-buy-a-home","Why You Should Use a Real Estate Agent When You Buy a Home","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231128\u002F20231207-Why-You-Need-To-Use-a-Real-Estate-Agent-When-You-Buy-a-Home.png","2023-12-07T11:30:00Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,73,74,78,82,83,87,91,95,99,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":70,"name":71,"slug":72},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":79,"name":80,"slug":81},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":84,"name":85,"slug":86},41,"For Sale by Owner","for-sale-by-owner",{"id":88,"name":89,"slug":90},42,"Featured","featured",{"id":92,"name":93,"slug":94},45,"New Construction","new-construction",{"id":96,"name":97,"slug":98},52,"Luxury \u002F Vacation","luxury--vacation",{"id":30,"name":31,"slug":32},{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]