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. 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 Neighbor.com, which links you up with people willing to pay to store their belongings in your extra space.
2. Rent out 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. Neighbor.com isn’t just for storing stuff — it also 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.
3. Rent a room to travelers
Make a room in your home available to those passing through your area.
A reputable site like Airbnb vets its travelers and offers insurance to help protect you.
4. Rent out a ‘granny pod’
Not comfortable with a stranger inside your home? Add a “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 online, and you could make a little extra cash when someone parks their tiny home in your yard.
6. Rent out your fenced yard to dog parents
It’d be a shame to let an entire backyard go to waste — especially if it could be earning you money at the same time.
A site like Sniffspot lets you turn the space outside your home into a private dog park. “No need to be there or supervise,” especially when the company provides $2 million of liability insurance to hosts. And it all happens on your schedule — no dog takeover to prevent your next barbecue.
7. Rent out your pool
You also can make a splash and get some money floating your way by renting out your pool during the summer — or in some parts of the country, year-round.
CNBC reports that when COVID-19 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 in the summer of 2020.
Intrigued? Check out Swimply, which matches pool renters with pool owners.
8. 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 Websites That Will Sell Your Clutter for You,” 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.
9. 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.