Moving to Danbury, CT – Seeking Advice on House Hacking and Local Strategies

[Kavya Veerapaneni]

Hi BiggerPockets Community,

I’m relocating to Danbury, CT, from Reading, PA, after accepting a new job. Coming from an area where rents are much lower (a 2-bed, 1-bath, 1,500 sqft rental averages $1,270/month), I was shocked by the high rental prices in Danbury. To offset costs, I’m planning to buy a duplex and pursue a house-hacking strategy:

1. Rent out one unit as a long-term rental.

2. Live in the other unit and rent out the bedrooms as short-term rentals (STRs) through a furnished rental approach.

Before diving in, I have a couple of questions:

1. Can I use a property for both short-term and long-term rentals? Are there any challenges I might face, especially if my long-term tenants aren’t comfortable with the short-term rental activity in the same building?

2. Does anyone have experience investing in or house hacking in Danbury? Are there alternative strategies you’d recommend for this market or nearby markets which are of commuting distance to Danbury?

As a newbie, I’d love to connect with local investors and agents to learn more about the area and refine my plan. Any advice or suggestions would be greatly appreciated.

Thanks in advance for your help!