Most people tend to agree that buying a home is a good financial investment to make. And while there is no doubt that property prices tend to go up year on year, the money that you make is tied up in your home so it is not something tangible that you can easily access. Well, there are plenty of other ways out there that you can make some extra cash from the roof above your head. The sharing economy has opened up a whole host of opportunities that more and more people are capitalising on to generate some extra cash for themselves. Let’s look at an overview of just how you can make the most of your bricks and mortar.
Clutter Selling
The longer you live in a property, the more things you accumulate and the more that you have to sell in the future. There are a host of selling websites and apps out there that make this process nice and simple. And the beauty of doing this is that you are clearing out more space in your home. You may also have some things that you don’t have the heart to get rid of completely, but you can find people who are willing to rent it from you instead. Just some of the items that may be rentable include expensive tools and designer clothing.
Rent a Room
If you have an extra room that is currently not being occupied, there are plenty of platforms out there like Airbnb that allow you to rent this out. You may be looking for a long-term lodger or you may simply want to offer it out over a few particular dates. Either way, this is a good way to generate a second source of income. This is an especially good method of generating money if you live in a particularly tourist-friendly place, as you are much more likely to be able to find people who would like to stay.
Remortgage
Many homeowners decide that they want to remortgage their place at some point down the line as a way of generating money. Another option is to look into homeowner loans which can provide you with some extra capital. Ultimately, these methods can be used to get your hands on cash if you need it quickly.
Storage Solution
A lot of people would never even think that their unused space could generate them a healthy second income stream. But this is exactly what has become popular in recent months as people need to store items that they simply don’t have any room for. So, if you have an attic, basement or garage that is not in use, this may prove to be the ideal solution for you. All you have to do is to make sure that the stuff you store stays dry and safe, and then you could literally be earning money by doing nothing.
Grow and Sell Your Produce
If you have your own garden and green fingers, you may well be able to sell produce to people who are looking for it to be locally grown and sourced. Many people are looking for alternatives to the usual supermarket products so you could even start a small business in this area. Of course, selling food means that you will have to follow certain health and safety procedures so you want to be well-versed in this area before going any further.
Parking Space
Living in the heart of a bustling city centre means that your parking space could well be extremely valuable to some people. And if you don’t need it during the day, you have the option of renting it out to a commuter who either already pays extortionate rates for parking or else has been forced into taking public transportation. Similarly, you will probably also find that your parking space is valuable if you live nearby to a good transportation link like a train station.
Get Your Home on TV
If you have a home with some particularly interesting features and you have always wanted to see what it would look like on screen, many production companies are always on the lookout for good sets. Of course, you will have to be prepared for a crew to take over your house for an unspecified amount of time, but it is worth taking some pictures and listing them to see if you receive a response.
There is no doubt that your home is a valuable commodity and these are just a few of the many ways that you can make the most of it.
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