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9 Ways to Make Money as a Home Owner

If you're a home owner, there are plenty of ways to make money from the space you own; your home is an endless supply of money-making opportunities. Here are nine options for generating money as a home owner.

Ways to Make Money as a Home Owner

1. Become an Airbnb host

As a home owner; you can use Airbnb to earn extra cash by renting your property to short-term guests. Once you register as an Airbnb host, you’ll be able to list your home on the site and make money from it. Here are some benefits and drawbacks of becoming an Airbnb host:

  • Pros: You'll make more money than if you were simply renting out your place through a traditional vacation rental platform. Plus, since it's done through the internet and doesn't require any employees (besides yourself), there are no overhead costs involved.
  • Cons: The downside is that there are plenty of expenses associated with being an Airbnb host, including taxes on income collected from rentals—and these may outweigh whatever profit margin exists for each property owner.

2. Rent out storage space

Renting out storage space is a great way to earn money as a homeowner. You can rent out your basement, garage or attic. If you have extra room in your house that could be used as storage, then utilize it and make some cash.

Your driveway might also provide an opportunity for additional income, but only if it's wide enough for deliveries/parking cars/etc.

3. Offer parking for commuters

If you live in an area where parking is a big problem, offering your driveway or garage to commuters is a great way to make some extra money and one company offering decent rates are Spacer.com. Just be aware of the rules and regulations surrounding this type of activity, so it's important to do your research before trying it out.

You will have to find out the demand for garage spaces for rent by asking around and doing some research on the internet. If people want your parking space but not at $100/month or more, then perhaps you can charge them $50/month or less, depending on how much demand there is for parking spaces around where you work or live. If there isn't much demand for monthly parking spots, consider offering weekly ones (or even daily if necessary)

4. Create a co-working space in your home

If you have a spare room in your house and want to turn it into a coworking space, you'll need to create a dedicated space for your guests. This includes having places for them to park their cars.

You will also need to create a separate entrance so that people can enter without disturbing the rest of your family members. If possible, creating two entrances will help make it easier for both sets of people -- one set being those who work inside your house and another set being those who live there but don't work there.

5. Offer handyperson services

If you’re the handy type and have a knack for small repairs and improvements, consider offering your services to other homeowners. You can find clients by word of mouth or advertising on Craigslist or Angie’s List. The key is to create a catchy title so that people will respond when they see it in an online search engine. For example, “Handyman with excellent plumbing skills available for hire!” This will prompt potential customers with plumbing problems to contact you directly instead of browsing through all the ads in hopes of finding someone to help them out.

If possible, try to give yourself a competitive edge over other contractors by offering something unique. Perhaps you only work within a limited radius of where you live so that your transportation costs are minimal, or maybe your rates are lower than those charged by other professionals in the area.

I found it helpful during this phase to keep track of all expenses related directly to my business by using Excel spreadsheets so I knew exactly how much money I could spend without running out too soon.

6. Host special events on your property

If you have a big enough property, hosting events can be lucrative. It all depends on the type of event and how many people show up. For example, if you host an outdoor concert with a large crowd in attendance, your property could make anywhere between $100 to $1,000 per hour based on the size of your venue. You’ll need to check with your city hall before throwing any parties in case they require permits or additional fees associated with hosting events on private property or commercial businesses.

7. Install solar panels

Installing solar panels is one of the best ways to save money on utility bills. It's also a good investment, as they can pay for themselves in 10 years or less. Solar panels are a great way to help the environment and reduce your carbon footprint by using clean energy from the sun instead of fossil fuels like coal and gas.

Solar panels can be installed in most homes. Still, there are some considerations you'll need to take into account before making this decision:

  • Some buildings have an insufficient amount of roof space for large arrays of solar panels; if this is true for you, it may not be worth installing them at all.
  • Installation costs vary depending on where you live and which company does it (homeowners can install them themselves).

8. Install a wind turbine

A wind turbine is a flexible method of generating electricity that can be used on your property. The amount of energy you generate depends on how large your turbine is, and the price of electricity in your area will determine how much money you make.

You might wonder why anyone would want to install a wind turbine on their property. Well, there are many benefits! Wind turbines don't require water or fuel, so they're not expensive to operate. Plus, they won't cause any harmful waste like burning fossil fuels does because all you need to do is plug them into an outlet and let them work their magic! And since they're powered by nature (aka free), they never go out of style!

9. Add a rainwater collection system to your home

Rainwater collection is collecting and storing rainwater in a cistern or tank on your property. Rainwater is typically collected from rooftops, but you can also collect it from other surfaces like gutters and downspouts. This water can be used for washing clothes, watering plants, and flushing toilets.

If you have a lot of space on your roof, installing a rainwater collection system could save you money every month by reducing your reliance on municipal water systems that use resources like electricity, gas, and chemicals. A 60-gallon rain barrel costs less than $200 to install while providing enough water for household chores like laundry (40 gallons) or gardening (60 gallons).

Takeaway:

If you're interested in making money as a home owner, there are several ways. The most important takeaway is to be creative and look at every option available. There are hundreds of ways to make money as a home owner; it's up to you to come up with them!

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