The Easy Ways Your Home Could Be Making You Extra Money
If you own your home, it can often feel like it’s constantly costing you money. There’s the mortgage, of course, but also insurance, repairs, maintenance, and all those little upgrades that seem to add up far quicker than you expect.
But while your home might not suddenly turn into a full-on income stream, there are small, practical ways it can help bring in a bit of extra cash. From things you’ve forgotten about in drawers to spaces you’re not really using, there’s often more value there than you think.
Old Technology
Most people get so excited about upgrading to a newer model of smartphone, tablet, or laptop that they pretty much forget about the old device that has served them so well. In many cases, they get put in a drawer, never to be seen again.
There’s value in digging those devices out, however. One study found that the average home contains some thirty unused electrical items, with unused smartphones alone accounting for some £1 billion in value. The takeaway? Get out your old devices, give them a spot clean, and put them on the market — it won’t make you rich, but it might just be enough to provide a noticeable addition to your travel fund.
Jewellery Drawer Finds
Many people wouldn’t dream of selling the jewellery pieces that they wear on a regular basis. However, many jewellery boxes also contain pieces that are slightly damaged, and which thus aren’t worn. While there can be merit in having them repaired, even if you haven’t done so already, you likely never will.
Selling old pieces, especially ones made of gold, can both bring in some much-needed cash and free your jewellery box of unnecessary clutter. Websites that offer the best gold prices for cash make it easy to trade in your scrap jewellery for money, too, often sending out pre-paid envelopes that make the process as straightforward as possible. Plus, with prices for gold at historic highs, there’s never been a better time to sell.
Renting Out a Spare Room
Your property could be an asset that you’re not putting to work as much as you could. If you have a spare room, then renting it out either on a short- or long-term basis can be an excellent way to bring in some extra cash each month. In some areas, you might find that you can bring in nearly the value of your mortgage payment. Plus, it can be fun living with other people!
Storage and Parking Spaces
Not convinced that living with a lodger is right for you? There are other ways to put your house to work, including offering storage and parking space. With more people than ever requiring storage, it really can be possible to make some money by storing other people’s belongings, with peer-to-peer platforms connecting searchers with property owners. Parking spaces, too, can be a moneymaker, especially if you live in an urban area where parking is hard to come by.
This is a collaborative post.
