If you own a house and need a bit of extra cash there are several options that you could consider to make money. Here are 5 ways to make extra money from your home… literally!
Rent Your Parking Spot – If you live in a dense urban area you can rent out your parking spot. When I lived in Hawaii parking was at such a premium that people could fetch several hundred dollars for their parking stall, especially towards the downtown area. There are several sites which offer parking spot arrangements which include parkingspots.com and parkatmyhouse.com.
Swap Your House – This isn’t necessarily making money from your home, but you can save money on your next vacation by eliminating the costs associated with hotels or staying in a different state or even country. You may have watched the movie the movie, The Holiday, which was a great, yet romantic, version of a housing swap in action. Although it may seem weird to have strangers in your house, by using Skype to communicate, getting references first, and making sure any valuables and important paperwork are locked up, you should be good to go.
Get a Roommate – Ah roommates, they’re not glamorous, but they do provide you with some extra rent money if times get tight (that is, if they pay their bills). I’ve used roommates as a living arrangement the majority of my adult life and find that it’s a great way to significantly lower my living expenses. I even have a few single dad friends who live together so that they can better handle raising their kids because of their schedules. Roommates could also entail living in a communal arrangement, but you might have to move homes in order to accomplish that.
Power up Your House – Use your roof and power grid as a way to shoot power back to the grid. Although solar is still an expensive alternative, it is possible for those who are handy to build their own solar panels and place them on their roof. You can even used damaged solar cells from ebay and save a ton of money. If you’ve got the time you could tinker around and build your own by following some simple instructions on the internet.
Convert Your Backyard to an Edible Paradise – If you’ve got a lawn in your backyard, you’re not using your land for the highest and best use. There’s a family in Pasadena California that uses their yard on a quarter of an acre lot to raise all their own food and also sell some for the extra produce for tens of thousands of dollars each year. Local restaurants in the upscale market are demanding fresh organic produce which this family offers. Sure they may work a bit harder than all of us, but they do it in a beautiful environment that allows them to stay at home. Check out the video below to see how they do it.
If you need some extra cash and have a house with some extra space that isn’t being utilized there are many options for you. Your creativity and willingness to work to save some money will be the factors in which you can make money from your home, literally!
Crystal’s Comments: We actually rented out the spare bedroom in our home for more than two years. It does feel pretty great to be making $500 back from your home every month when you only have a $740 mortgage. 🙂 The only downside is the amount of privacy you have to be willing to give up.
Have you ever followed through on any of the ideas above? Any great ideas that we’re missing?