For generations, the old real estate adage has been “location, location, location.” But for the younger generation trying to break into today’s housing market, the more appropriate adage might be “options, options, options.”
With interest rates hovering around the mid-6% range and home prices showing no signs of abating, Gen Z is opting for “house hacking,” a term used to describe buying a home and renting out part of it — spare bedrooms, accessory dwelling units, or even entire floors — to help pay the mortgage.
The idea took off during the pandemic housing boom and has evolved into a long-term affordability strategy for younger home buyers, Realtor.com reported.
But how would a home like that work in practicality? How would each co-owner or renter feel as though they had a home as well as a private space to call their own? While it is currently off the market, a historic East Austin property offers a great example of how a house-hacking model would work. Located in Austin‘s creative core, this home has something for everyone and is in a sensational location.
Constructed in 1906, this home has nearly 5,700 square feet of flexible living and gathering areas. Set on an expansive 9,900 square foot lot just blocks from the French Legation, this home blends timeless architecture with expressive design moments.
Walking through the front door, you are brought into the history of this home with its original wood floors, multiple fireplaces, and gallery-style walls that invite large-scale art and curated installations — perfect for communal residents.
The spaciousness of this six-bedroom, five-bathroom home gives plenty of options so all co-owners can be comfortable in their own space. Dramatic living areas with soaring ceilings provide shared gathering space, while the kitchen — outfitted with dual sinks and generous prep areas — easily handles cooking for a crowd.
At the end of the day, however, it is nice to have your own space where you can retreat and recharge for the next day. Upstairs, plentiful bedrooms create more secluded retreats and eclectic bathrooms offer the creature comforts you’ll want to claim for yourself.
What is especially nice about properties like this is how naturally they accommodate the shared living arrangements younger buyers are increasingly considering. Instead of squeezing roommates into small apartments, larger homes with flex spaces like this allow residents to divide the space in ways that make sense to them. Residents can create the decor that best suits their style without infringing upon anyone else’s decor.
If you are house hacking your way to home ownership, homes like this with plenty of bedrooms and bathrooms are a great way to make that house payment.
For buyers navigating today’s affordability challenges, house hacking — especially in homes with multiple bedrooms and adaptable spaces like this Austin property — provides a great example of how you can achieve either goal and still have a space to make your own.
