Your house can make you money

Your home not only provides you shelter and an asset to grow over time. There lurks in those corners the opportunity to earn a little more cash- which could certainly come in handy over the holidays (and in paying those holiday bills afterwards!).

Here are some ways that your house can make you money:

 

Parking spaces

Depending on where you live, and if you are lucky enough to have a driveway or parking available in an urban area, you can rent out your parking spot for a decent sum every month (don’t forget the space in your garage).

All the work that is really required of you is to ensure that the snow is removed promptly after a snowfall for outdoor parking.

Clean it out

Go through your treasures (i.e. stuff stored in the attic/garage/basement) and see if there is anything worth selling.

Quick cash and more space? That’s a holiday gift you can give yourself.

Host a student

Services like Canada Homestay Network match international students with families, where they can live and learn about Canadian culture.  Essentially, you must provide the student with their own room and three meals a day.

The amount you earn depends on where you live, and the stays can last from a few days to longer term, depending on the placement.

In addition to the money you make, it’s a great opportunity for your kids to learn firsthand about other cultures, right in their own home.

Rent out space

When you talk about renting out space in your home, you are probably thinking along the lines of the traditional landlord-tenant relationship. While this is a great money-maker, there are other options too.

You can rent your home out for commercials, movies or photo shoots for magazines. If you’ve got land to use, you can rent it out to farmers for their crops.