You are currently viewing How to Make Money Using Your Home

How to Make Money Using Your Home

Are you in need of or just want a few extra dollars to put toward a vacation, a home project, to knock down debt, or just to save for a rainy day?  Why not turn your home into a financial asset other than claiming the appreciated value. If you’re like most people, you’ve never made any money off your house, even though your house and yard likely represent your single largest asset. 

I am going to highlight 5 ways that you can extra money on your home.  You may be able to pick up $100 or more without ever leaving your house! Check the links below for more information and to take advantage of additional benefits.

Renting out Your Spare Room

Do you have an extra bedroom?  Today many travelers are seeking accommodations that offer a different experience from standard hotels. Airbnb is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodations.

Airbnb hosts earns$1,354 a month, according to their website. Even better, getting started is quick and easy. You can list your home and start accepting reservations in just a few minutes. Why not turn that spare bedroom into cash.

How it works.  List your property. Set available dates and pricing.  Select guest. Get paid!

Airbnb covers every booking with $1M in property damage and another $1M in insurance against accidents.

Renting Out Your Garage or Basement

You can probably rent out your garage to someone with a need to shelter a car.  It may be to your surprise that people will pay for convenience and if you have an empty garage they can rent it out.  If you have If someone needs temporary storage, consider renting out your basement.

Renting Out Your Driveway

You know you can share your home when you aren’t using it. Why not share your parking space too? Do you live in a city strapped for parking, yet you own a driveway?  If there’s a major event in your area, you may be able to rent out your driveway for a night or a weekend.  Parklee is a great resource to get started.

Sites like Parklee allows you to advertise your space, and travelers or daily commuters can rent it from you.  Listing near airports can make $30 per day!

Renting Out Your Pool

Having a pool is considered to be a luxury.  There are many people who are willing to rent your pool by the hour for private parties.  Swimply is an online marketplace for pool sharing that connects owners of private pools and people looking to get their hands on one.  Why not make money and join the thousands of Swimply Hosts who have converted their pool from an ongoing expense into a profitable asset without compromising on any of their own pool time.

Renting Out Your Lawn

What if you could make extra money from your property without renting out your home? With the rise in popularity of Airbnb and other short-term home rental sites, it should come as no surprise that other services have begun popping up offering new possibilities like letting campers pitch a tent in your backyard.

If you have beautiful formal gardens your outdoor space might be desirable as a location for photographers and wedding ceremonies.  Renting your property may be a way to make extra money.

Related Article: “Side Hustles”