Turn Your House Into A Goldmine
One of the best reasons to buy a house, according to some people, is the potential return on investment. It’s also why you raise the value of your home by remodeling, putting in solar panels, adding a deck, and generally keeping it in good condition. However, a house is only an investment if you plan on selling it. Although it’s nice to be living in a nest egg until you sell it for a profit, most people buy a house because they want to make it a home and pass it on to their children. Even if you do intend to sell one day, it’ll be years before you see a penny of your investment. Fortunately, there are other ways your house and land can make you money.
If your kids have moved and you have more than one room going spare, why not look into having a lodger. It could be a student from a local college, an international student, or someone who’s moved for work but hasn’t been able to sort accommodation yet. Each of these options means you’ll have a temporary tenant, so you can try it out for a few weeks to see if you like the arrangement. At the very least, you’ll be getting help paying the bills, and maybe some help around the house if your tenant is considerate about the mess they make.
Festivals and concerts need a place to host their event during the summer. Of course, if you don’t have several hundred acres to spare, you can still host seasonal mazes and labyrinths, outdoor weddings, or corporate obstacle courses. If you don’t currently own any land, then you can look into land for sale near to your house, or in a destination you’ve always wanted to visit. This is an occasion where you can see a return on investment almost immediately; each summer you can expect annual requests for any outdoor events. Just make sure you check and see what commercial activities are allowed on your land where you live before you start operations. Some activities may be restricted, prohibited or require special permits.
Rent out your driveway
Not everyone is comfortable with the idea of having strangers live with them, so you might prefer to rent out your drive instead. If you don’t drive often, or you don’t have a car anymore, then you might make a few extra bucks by renting out your drive. If you live near to an airport, tourist city, or to a venue that’s popular for concerts, your parking space will be in high demand for those who don’t want to waste 30 minutes looking for a non-existent parking space in an overcrowded venue. Look into the standard rates for car parks nearby and offer people a slightly better deal. You stand to make a lot of money during school breaks if you live close to the airport; you could even offer to drive them there and pick them up for an extra fee.