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House Hacking

House Hacking in the UK:

One of the key benefits of house hacking in the UK is the potential tax benefits under the “Rent a Room” scheme, which allows you to earn up to £7,500 tax-free. This strategy can increase your monthly net worth by reducing your mortgage payments, thereby accelerating the path to wealth. £7500 tax free is worth nearly £15,000 pre-tax if you are top-rate tax payer, although I admit most top-rate tax payers probably won’t opt for this option!