House Hacking a Duplex in Panama City Beach in 2023

House hacking has become a popular choice for those looking to invest in their own home while creating a stream of passive income. Panama City Beach can be an ideal location for this, as it a great market for both short-term vacation rentals and long-term leases. If you are interested in learning more about duplexes for sale in Panama City Beach, contact us any time.

To learn more about house hacking in Panama City Beach in 2023, keep reading below.

What is house hacking?

House hacking can take on many forms, but simply put it is a strategy to offset the cost of owning real estate. The homeowner will live in part of the property while renting out another part, covering some or all of the housing expenses from the rental income. One of the most popular and affordable ways to get into house hacking is buying a duplex, living in one unit and renting out the other. This can be an ideal way to get into real estate investing while purchasing a home for yourself.

Benefits of House Hacking with a Duplex

There are many reasons to consider house hacking with a duplex, including:

Is Panama City Beach a good market for house hacking?

Finding the right real estate market for house hacking is essential. Panama City Beach is a great place to invest in an income property of any kind, with a steady demand for vacation rentals that remains strong in a variety of economies. Panama City Beach is one of the top places to vacation in Florida, with a strong tourism economy even in the less busy seasons.

Many people prefer to have a long term tenant for their house hacking plan, and Panama City Beach has a great rental market for this, as well. However, if you are interested in increasing your revenue potential and are not afraid of a bit more property management work, a short term vacation rental model can be an ideal way to leverage your duplex.

Ready to get started on the search for duplexes for sale in Panama City Beach? Contact us any time.