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How to utilize your home as a source of easy money?


How to utilize your home as a source of easy money?

When it comes to gather extra money, one of the most underutilised sources we have is our home. It doesn’t have to be the place where we dwell in always, but it can also be an easy money generator.

Here are a few ways you can encash your home to get more money.

1. Host a yard sale

Yard sales have a default advantage than other garage sales or indoor sales.

You can put several items in your front yard that you wish to sell. You can decorate trees and make the place cozy with decorations, umbrellas, and other attractive items.

In addition to good conditioned clothes and household items, you can also sell homemade jams, jellies, cakes, pastries, cookies, and breads.

You just need to do it according to the local laws and homeowners association restrictions regarding yard and garage sales.

2. Start a bakery or business-kitchen

Do you own an unused apartment or a jumbo-size kitchen which usually remain vacant most of the time? You can rent it out for food production.

Agencies or small companies who supplies cookies, cupcakes, vivid gourmet meals and birthday-party catering may require a place just like yours. So, you can rent out that kitchen of yours. It’ll be hassle free because those services don’t require a storefront but may require big kitchen space with extra ovens.

So, if you have extra space, you can use your home as a source of money.

3. Rent your home

You can rent out your spare apartment or bedroom to college students, couples, or even singles. This way you can earn money from empty space of your home.

The homeowners with proper skills can rent their room to elderly guests to generate even more income. If you are a retired doctor or nurse, who has good experience in emergency medical situations, this could be a good option.

4. Share your garage

If you have an unused garage or an extra spot in a three-car garage, you can allow others to use that place through renting.

People living in high-rise apartments may pay you for the unused space to park their vehicle in your garage. Not only the car owners, but bikers also search vacant places to store their motorcycle, fisherman may look for the space for their boat, trailer or other recreational vehicle.

So, allotting garage for others can also be a way to use your home as a source of money.

5. Grow your own crops

If you've got a big, green area and a bit of mushy land, you can consider growing some crops over there.
It’s quite interesting and profitable to grow crops in your backyard like - berries, flower bulbs, vegetables, grapes, florist products. Landscape plants can be grown in your place and you can sell them to wholesalers or the farmer's markets in your neighborhood.

6. Rent out available storage through ads

Creating a residual income is not a matter of joke. But, if you are willing to rent some part of your home, that can be much helpful. Let’s have a look at few things that you need to know while giving ad’s in the local newspapers and other media:

  1. Try to post your space through free ads
  2. You must determine the price for your space and control the length of the rental
  3. Free sample contracts that you can modify for your own use
  4. Include snaps of your “space” to boost the ad

Once you find your renter, make sure you set up some strict rules and guidelines in your contract.

7. Rent Your backyard to serious campers

Here is another way to encash your property as a homeowner. You can welcome enthusiast campers and turn your backyard into a campsite.

It’s easier to rent your backyard; list your ads in local newspapers, use different websites and link up with prospective campers. You can even mention your price in your ads.

Campers love backyard campsites as it’s a great option to camp for a relatively cheaper price. So, if they like your place through your ads...bingo!!

Generally you might have to pay a certain percentage to the website where you are putting the ads, after receiving any successful booking.

So, these are some effective way through which you can encash your home. If you have some more unique ideas in your mind, feel free to share your thoughts by commenting below.

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