Learn how to make house hacking work for you

House prices have gone up dramatically in recent years across the Greater Toronto Area and many areas of Canada. It’s not only tough for buyers to come up with down payments, but also to make high monthly payments. Many Canadians are turning to house hacking to earn some extra cash. House hacking is when you live in one part of the house and rent out another part of the house to offset your monthly carrying costs. Renting out a legal second suite in your home could cover up to 40 percent of your living costs.

Real estate expert Simon Tham breaks down the ins and outs of house hacking and gives his expert tips on how to go about it in the video clip above.