Personal Finance

9 Ways to Earn Extra Income With Your Home

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Between mortgage costs and hidden homeownership costs, we spend a ton of money on our homes.

But what if your home could give a little back? It’s possible to put your home to work for you, bringing in extra income and offsetting some costs associated with it.

Following are several examples of ways you can make money with your home.

1. Rent a room to travelers

Make a room in your home available to those passing through your area.

Listing an empty room on a site like Airbnb or Vrbo can provide you with extra cash. Plus, you have flexibility: You can decide on which dates to open your home to others.

A reputable site like Airbnb vets its travelers and offers insurance to help protect you.

2. Sell your clutter

Sometimes it’s about clearing the clutter, and your property can help here, too.

Use your property to hold a yard sale so you can earn money selling things you no longer want. For pointers, check out “15 Tips for a Super Profitable Yard Sale.”

Another option? Sell your unwanted stuff online. In “6 Ways to Sell Your Clutter Safely,” we tell you how to do just that without having to take the risk of meeting up with the buyer in person, as you would when selling on Craigslist or OfferUp.

3. Pet sit

Interested in making a few furry friends? Use your home for doggy day care, or even dog boarding.

Many pet owners don’t like to leave their critters alone for the weekend, or even during the day while they’re at work.

If you have a flexible schedule and can accept four-footed family members into your home, Look into Rover, a site that can connect you with people in need of a pet sitter where you live.

4. Rent out a ‘granny pod’

Not comfortable with a stranger inside your home? Add a small “granny pod” to your property and rent it out. A granny pod is a small, usually pre-fabricated home that can be set in a corner of your backyard.

Another version of this is the tiny home. As long as you meet local regulations, you could rent out these dwellings to a permanent tenant or even use one as your Airbnb rental.

5. Lease your land

If you don’t want to pay the upfront cost for a small dwelling to put on your property, consider leasing your land for someone else’s tiny house.

List your available space on a site like Try It Tiny, and you could make a little extra cash when someone parks their tiny home in your yard.

6. Store other people’s stuff

Now that you’ve cleared out your own clutter, use the extra space to store the things that belong to other people.

That’s right, others might be willing to pay you to keep their things in your attic, basement or storage shed. The sharing economy makes this possible. Check out websites like Store At My House, which link you up with people willing to pay to store their belongings in your extra space.

7. Rent out a parking space

Do you have room to park other people’s cars? If you live where parking is hard to find, you can make money by renting out your unused parking space. SpotHero is a website that allows you to list your space so it can be found by people desperate for parking spaces.

Another option: If you live near an event venue, consider offering parking in your driveway (or your yard) to attendees. You may be able to make decent money in an evening, or over the course of a few days.

8. Make your home a star

Film crews always need settings. Wouldn’t it be fun to see your home become the star of a show?

Rent out your home for filming, and you might be able to earn a few extra dollars. Even if your home is not right for a major Hollywood production, it’s possible that local and regional crews need locations for small movies, commercials and more.

Film Locations Wanted is one website that helps you list your home for film projects.

9. Rent out your pool

You also can make a splash and get some money floating your way by renting out your pool.

CNBC reports that once the coronavirus shuttered public pools, backyard swimming pools became the new hot spot for those seeking a dip on a hot summer day.

One pool owner who rented out his pool — Ned Gilardino of Aurora, Colorado — made $50,000 last summer.

Intrigued? Check out Swimply, which matches pool renters with pool owners.

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