Given the things that have been happening around the world at the moment and how uncertain times are for many, I thought I would share with you some ways to make money from your home. Not like a home business, but from the actual building. People often disregard making money from their home because they don’t want other people living with them or they live in a unit so think it can’t be done. This is not the case.
I have lived in 1 and 2 bedroom units with my husband and 2 daughters and today when I was thinking about this post I thought about some of the things I could have done to make money from them, but didn’t think to.
1.) Storage room
Many units have storage rooms which are not attached to the actual unit. They have different key and if you managed to get rid of stuff you don’t use so the storage room is not needed, you could possibly rent it out to someone else for a fee. I’ll be posting later about how we managed to live in such small spaces, e.g. finding storage spaces and things.
2.) Car port
Many units have a car port as well. If you don’t have a car or are happy to park your car on the street you could rent the space to other people who might want to use it. It doesn’t have to be for their car, they might have a boat or something they want to store. Another option is if you live near a business district or shops, you could rent the space to workers for whilst you are at work.
If you have a garage you could rent it out for storage to people who have excess belongings, a spare car, motorbike or boat. Maybe one of your neighbours would like to park their car in a garage, but don’t own one. It would be easy to park in yours and walk home.
4.) Get a room mate
Whilst many hate the thought of having a roommate, if times are tough this is the idea that will probably make you the most money. You can rent out your spare room to a boarder, friend or get an exchange student. It does mean less privacy and not everyone will get along, but even for 3 – 6 months, this could be worthwhile.
5.) Use the spare room like a hotel
If you don’t want someone in there all the time you could rent the room our occasionally to travellers. You can charge a higher per night rate than you would get with boarders, but you are opening your home up to a variety of strangers, which can be a bit dangerous.
6.) Your yard
If you have a large yard you could rent space on it for people to store caravans, boats or whatever. It works best if you have access to your back yard and can store it there as not all neighbours are ok with large items like this stored at the front of the house.
7.) Drive way
In the same way you can rent your yard or carport, you could do it with your driveway. It might take a little while to find someone, but as long as you are happy giving up some of your space for some cash, it would work well.
8.) Rent it out
If you happen to go away at all you could rent your home out. Even if you are only going a week or so, if it is during a holiday period friends of yours might have friends of theirs coming up who would be willing to rent your home. If you are going away for longer, like a 3 month overseas holiday you could rent to tenants. It is best to check with your insurance policy about this as you may need to make changes. Also remember if you go overseas to grab travel insurance, which you can get through Australia Post.
These are just some of the ways you could make money from your home. There are heaps more which require very little effort after initially set up. If you are struggling these ideas might be the difference between keeping your home or not.
For more ideas, check out my book 365 Ways To Make Money. I have a whole section dedicated to ideas like these.