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Many people live in their homes and assume that that’s all they’re good for. “As long as I have a roof over my head”, people say, “I’m happy.”

But this kind of thinking is a little short-sighted. While housing is a consumer good, it also doubles up quite nicely as an asset. Just ask any landlord. 

Homes are money-making machines. In this post, we take a look at some of the ways you could earn a little extra cash, just by leveraging the property you already own. 

Rent Your Driveway

If you live in a busy commuter area, you might want to think about renting out your driveway. Workers are often keen for somewhere reliable to park their cars during weekdays that doesn’t cost them a fortune (as it does when they use regular parking lots). 

As a homeowner, you can undercut local parking charges and offer people use of your drive space. You may be able to make several hundred dollars a month, just from having an extra vehicle on your drive. 

Rent Out A Room

If you don’t mind having a lodger to stay in your home, you can also consider the possibility of renting out a room. Such schemes can often earn you several hundred dollars a month. Most commonly, lodgers are young professionals who don’t have families. They tend to earn good incomes and pay on time, primarily because they are living with you. 

Sell Up

People often say to themselves, “I wish I could sell my house fast, but I am worried about all the time and expense. Everyone knows that selling a property and buying another one is extremely expensive and time-consuming.” 

But this is actually an old way of thinking. The market has become far more efficient in recent years. Buying a home today is nothing like it was in the past. It’s a slick experience. 

For instance, did you know that you don’t actually have to wait for a regular buyer to put in an offer? It turns out that there are companies that specialize in buying up real estate that people want to get rid of quickly, handing over the money, and then selling on at a later date. 

Imagine how much money you could make if you liberated all the cash from your home. The sums would be extraordinary. You could then invest that capital in productive assets, use it to downsize, or enjoy a better lifestyle today, all while renting somewhere cheap. 

Let People Store Their Stuff In Your Home

Storage rental companies charge a small fortune for storage space. Again, many people pay hundreds of dollars a month for the privilege. And, just as before, you can tap into this market and leverage it to make a profit. If you have space in your basement, attic or outbuildings, then you could offer storage facilities to customers in your local area. 

In summary, there are many ways to make money from your home. Leverage your assets today to build a brighter future for yourself and your family tomorrow.