More and more Chicagoans start what is called a "house hacking". The purpose and the idea is to offset the cost of owning a primary property by renting out a part of it. This could be accomplished by getting a long term tenant or simply by "AirBnB'ing" it. House Hacking is a term used when the money coming from the extra rent is being used towards paying off the mortgage early and reaping the benefits of early equity in the property. Every time you make extra (over payment) payment on your mortgage (in most instances) , the entire extra amount is applied directly to the principal, meaning your mortgage payoff graph is being put on steroids.
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