Making Money Off Your Real Estate
Owning real estate is a considerable investment. But, often it’s money just sat there. You live in your home, it’s worth a lot of money, yet when you need cash, there’s no flow coming from your biggest asset. The cost of living is rising all of the time; food costs increase, fuel costs more and utilities are expensive, and unfortunately, many of us are looking for some extra cash. So, why not find ways to make money from your home?
Get a Lodger
If you’ve got a spare room, a lodger is an excellent way of making a regular income without really having to do a lot. Many young people struggle to afford rent on their own and certainly couldn’t afford a large apartment. So, renting a room in a family house is a great option. Look online to get started.
Rent Out a Parking Space
This one is especially useful if you live in a city center where parking spaces are both expensive and hard to find. If you’ve got a drive or even garage that you don’t use, rent them to someone as a parking space.
Rent Out Space
If you don’t like the idea of someone living in your spare room, how about renting it out as storage space? Many people living in smaller homes struggle for storage, and private storage firms can be very expensive long-term. Offer an affordable alternative.
Buy to Let
Becoming a landlord and letting out a home can be a great money spinner and appeals to many. It’s a significant investment in the short-term but can quickly repay itself in rent. Learn more before you get started, but you may be surprised by how easy it can be. If you can afford the initial investment, then it can be well worthwhile.
Create a B&B
Instead of getting a lodger, why not turn your spare room into a B&B? This is a great way to make money, lets you meet interesting new people and can be good fun. Many people go on to quit their jobs because they love running a B&B that much. Give the room a good makeover and make sure you’ve got a suitable space for breakfast. The rest of the home remains private.
Hold a Yard Sale
Your possessions can make money too. Have a good de-clutter and sell everything you don’t want. This can earn you some extra cash and leave your home feeling much tidier and fresher.
Become a Film Set
Filmmakers and photographers are always on the lookout for natural sets for their work. You can make a lot of money by offering your home out in this way. There’s a growing trend towards moving away from sets and out onto location so you could get a lot of work. Film companies will pay if they need any changes made and for any repairs needed afterward. This is an especially good earner if your home is in a popular area or in some way unique.
There are many ways to make money from your home and your possessions. Think about what’s best for you and your family and get started. You could be sitting on a goldmine.
