4 Ways to Turn Your House into a Money Making Machine

4 Ways to Turn Your House into a Money Making Machine

You love your house, but let’s face it, maintaining it can be a real drain on your budget. The good news is that it’s possible for you to use your home to make money, rather than just pouring hard earned money into it. Here are some creative ways you can use your house to make some extra income.

Rent Out a Room

Do you have an extra room? Find someone who is willing to rent the space. This can be a great way to earn a few hundred dollars a month and to meet some great people. When you decide to rent your spare bedroom, there are a few things you need to keep in mind. First, think about what kind of person you are going to be comfortable sharing a home with. You will need to visit a lawyer to get a detailed rent agreement drawn up and then it’s time to start advertising your available space. Make sure you check references and do background checks to insure you are renting out the room to a safe, responsible individual.

Or, maybe consider the easiest way to rent a room — using AirBNB. Using them can take a lot of the hassle off your plate and open up your rental to a huge audience.

Keep in mind that you don’t have to offer a long-term lease. It’s possible you can find people who are willing to rent the space for a short period of time, maybe even as a vacation getaway. If you don’t know how to go about finding a lodger, try contacting a local college. The odds are pretty good that they’ll know an exchange student who is in need of a place to stay. This is a great way to make money with your home.

Rent Out Your Driveway

Post a short advertisement on the message board at your local driveway offering to let people to park vehicles in your driveway and you’ll be surprised by the number of responses you get. This is an especially great source of income if you live in a house that’s on a major road, making the edge of your driveway a great place to park and market vehicles that are up for sale. (Other unusual and weird ways to make money from home.) There are even parking apps to help you rent out your free space.

Sell Your Extra Stuff

Chances are pretty good that you have a few items lying around the house that you no longer want or need. Why not clear out the clutter and turn it into extra money? Craigslist is a great choice when you need a home for your old stuff, but you can also sell it on eBay or organize a garage sale.

If you don’t want to go through the process of trying to organize a way to sell your old belongings, you can take them to GoodWill or The Salvation Army. They won’t pay you, but you’ll get a tax deduction.

Selling unwanted items has gotten easier and easier with apps basically allowing folks to snap a pic and post their item online. See my post, Apps to Sell Clothes – Big List to Help You Start Selling Right Now!, it really is a big list. It will give you so many options.

Lease Your Lawn

Do you live in a great location, visible to lots of traffic? If so, you could potentially lease your front lawn for yard sales. People are always looking for a place with good traffic to sell their belongings so you could charge a flat fee for people to use your yard for a day.

Brainstorming

These are just a few of the ways you can make money from your home. With a little creativity, you can find a variety of options that will turn your current residence into a money making machine! We live in such a gig economy these days. People rent everything from a couch to sleep on for one night to renting out their bicycle. Why not rent stuff if you're not using it all the time. You earn cash and you're helping someone out too.