Are you wondering how you can make money with your current home or real estate? Here are some interesting ways to use real estate to boost your finances - but remember to check with your local zoning laws, local regulations and homeowner's associations to see if any of these ideas will work for you:
1) Home Businesses
Consider working where you live - hairdressers, craft makers, auto mechanics or any home-based business would work, including Realtors. Also, it may provide you an opportunity to take a tax deduction. If you are not self-employed, maybe ask
your company to allow you to telecommute at least some of the time.
2) Extra Space or Multi-Family Homes
Consider renting a portion of your home, which may allow you to live there rent free, if the rent covers your mortgage. Does your home have a mother-in-law suite, or two master bedrooms, or any rooms with a separate entrance and space for a small kitchenette to give you or your tenant their own space. Retirees, single professionals or families with unused rooms would be able to profit from having a tenant.
3) Garage Space & Parking
In our community, parking spaces are hard to come by. If you are not using your garage or space, rent it out for a monthly fee. Also, if you own a large parcel of land, consider renting parking spots to RV owners, boat owners or campers.
4) Storage
Storage warehouses are making a huge profit over our need to store our "stuff". Your garage, basement or attic space can make a great storage area for renting out. Check with your local storage providers for the going rate and then offer your space at a bargain discount! Be sure that you are covered by your insurance and draw up a contractual agreement before renting the space so you are not liable for any damages.
5) Vacation Rental
If you have ever gone on VRBO (Vacation Rental by Owner) you will understand that renting your home as a vacation rental is big business! If you like to travel, have relatives or friends you can visit for long periods of time, then what a great way to earn income while you are having fun. If you own a second home or have home that is empty, you might consider furnishing it and renting it out - there are now vacation rentals in almost every city in the United States and you can advertise it for free on Craigslist in your area.
If you have any other ideas on how to make money with your current real estate, feel free to share them.
To view La Jolla developments, custom estates & La Jolla condominium communities, visit our comprehensive website at www.LJ-Homes.com. Contact us anytime at 1-760-567-9100, we are here to help you find the La Jolla home of your dreams or sell your home for top dollar!
Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed.
These are good tips thanks for the posts. I hope they work for you.
Excellent post.. .very useful. These days many people are looking for ways to raise revenue.