For most people, the home is a bit of a money pit. You’ve got the mortgage or the rent, the energy and water bills, any repairs that need doing. That all adds up to a huge amount of money being paid out every month. Isn’t it time your house started giving something back? Sounds like a pipedream but it can be a reality if you do it right. In fact, there are all sorts of ways that you can make money from your house, here are some of the best ones.
Rent Storage Space
I bet your loft space is full of old junk that you’ll probably never use again. It’s just sitting there gathering dust until you can be bothered to clear it out. Well, why not have somebody else’s old junk up there instead and make some money from it? That’s right, you can rent out storage space in your house wherever you’ve got it and turn those cluttered spaces into a money maker. There are lots of great sites out there like storemates where you can find people that need space.The one thing to remember is your insurance though. If they’re somebody else things they probably won’t be covered by your current insurance plan so it’s worth updating it. If you don’t and the stuff ends up getting stolen you’ll have a big problem on your hands.
You can easily cut those energy bills and even start making money on top if you generate your own electricity. Renewable energy sources like solar panels or small wind turbines can generate enough energy to power your home completely free. Even better, if you start generating more than you use, you can sell that power back to the grid and start making a tidy profit. The cost of getting it installed in the first place is fairly high but as a long term investment, it’ll do you plenty of favours.
Rent Your Parking Space
As houses are packed in tighter and tighter, parking spaces are becoming a commodity in some areas. If you don’t have a car to put in your space, you can make a lot of money renting out. Even if you do have a car, you can rent the space while you’re out at work. If you can find somebody that works near your house but doesn’t have adequate parking at work, you can rent your space to them while you aren’t using it during the day.
Turn Your House Into A Restaurant
That sounds like a crazy idea but it’s absolutely possible. You don’t need to turn your entire home into a restaurant full-time but if you love cooking and hosting dinner parties, you might as well get some money for it. Websites like EatWith will match up diners with people that are hosting and they’ll come to your home and buy your food. It’s a great way to meet people and make a bit of money out of your house at the same time.
Don’t waste money on your house anymore, turn it into a money making machine instead.