7 Smart Ways to Turn Your Home Into a Profitable Source of Income
Money doesn’t grow on trees, but it can certainly grow from your home. If you have a house, there is no shortage of ways to monetize it. If you’re looking to make some extra cash, you have options that vary from effortless to work intensive.
However, no matter how much or how little you’re willing to do, you’re bound to see some side cash start rolling in.
1. Use Your Yard
It’s a shame to have a large yard if you aren’t using it. Gardening could help your yard find a purpose, and it will also give you a reason to get outside and be active. If you grow fruits, vegetables, or herbs, you can sell them at a produce stand or farmer’s market. A good harvest can bring in a pretty penny if you’re willing to commit yourself to this labor of love.
2. Offer Storage Space
If you have a storage shed or a spare bedroom, you can rent it out to someone in your community. People and local businesses may have things they want to keep safe, but don’t have room for on their own properties. You can offer easy access if you’re right down the road. Just create a secure space where goods can be kept safe and dry.
3. Let People Use Your Driveway
If you live near an airport, a bus station, or a busy city that doesn’t have a lot of convenient parking, you can rent out your driveway to someone who needs a safe place to keep their car. If you have open garage space, that’s even better. People may be willing to pay a premium for the added layer of protection that a garage provides, especially in extreme weather conditions.
4. Rent Out a Room
If you don’t mind sharing your space with someone else, you can always rent out a room . The way you choose to rent it out is entirely up to you. You can take on a long term tenant, offer it as a one or two night rental similar to a hotel room, or allow travelers to use that room for the week or so they’re enjoying their trip. You can even rent it out as office space to a remote worker or freelancer who doesn’t have the means to establish a home office but can’t afford commercial space.
5. Form a Startup
Most startups are established at somebody’s kitchen table. Why can’t it be your kitchen table? If you’ve had a business idea that you’ve always wanted to turn into a reality, use your home to do it. You can make some side cash to keep your startup afloat by practicing your sales skills with affiliate marketing until you’re ready to do it all on your own. Save the fancy office space or retail location for when you’re beginning to see real money rolling it. Your home can be the meeting place where all of the magic begins.
6. Sell Your Crafts
What do you do with your downtime at home? Do you like to make or create? If you’ve been making jewelry, welding metal into fantastic sculptures, or even creating captivating watercolor paintings, your home can serve as your creative studio. There are tons of online marketplaces where crafters can sell their handmade items. You’ll probably make the bulk of your income around important holidays, especially with people who prefer to give thoughtful, handmade gifts.
There’s money in your home. Think about all the clothes you have but never wear, and all the antique you’ve inadvertently collected that don’t have any sentimental value. Clearing them out will give you more space, and it will also fetch you a few dollars. Selling online or to vintage shops can turn your trash into treasure.
You can utilize several methods to make money with (or from) your home. Some of them require little effort, or things you might enjoy doing anyway. Whether you use that cash to pay the bills or treat yourself to something wonderful is up to you – save up and see what happens.
Audrey Robinson is a business and commerce blogger, currently supporting Aubiz – a powerful directory from Australia. With her experience in business administration and customer communication, Audrey might often be found online, exchanging thoughts and sharing her tips with CEOs, small entrepreneurs and job-seekers alike. Feel free to find her on Twitter.