7 ways you can make money from a spare space in your home

Do you have a spare space in your home?  you can make money from it, or perhaps you have a garage that is full of junk that you no longer use, you may just be allowing a gold mine to waste if you are not using that empty space to make good money.

Today, I will teach you 7 ways you can make money from an empty space in your home, you will find out that you can actually add more income to your finances just by using what you already have available.

Are you ready to make money from your home? let’s go

–Rent your Spare bedroom on Airbnb

Airbnb is an online platform that allows people to rent out their spare rooms which will normally be furnished to travelers and tourists who don’t want to go to traditional Hotels.

Airbnb revolutionized the way people secure accommodations when they are on holidays.

I love Airbnb because you get the feel of staying at home while you are on your holiday.

I do get tired of staying in hotels because most times what you can eat is restricted to what they have on the menu.

With an accommodation service like Airbnb, you can make your own meals and still feel relaxed in a homely atmosphere.

According to this report, you can make up to 33,000 dollars rental income per year from your property. 

You can find out how much your property is likely to earn here

-Rent your Garage: 

Do you have a garage that is full of junk that is no more useful to you but you are paying for it because of its part of your home. You can go to online platforms like STOWIT and list it for rent.

This online platform helps connect people who want to store their stuff to people who have available spaces for storage. The storage area is not restricted to garage alone but also your loft, den or perhaps an outdoor space.

You can make up to 15,000 Dollars a year renting out this space which usually would have yielded nothing.

The good part is that you get to keep 96% of your listing price.

–Start a B& B Service:

If listing your spare room on Airbnb is not your thing, then you can start a traditional bed and breakfast service for people who are traveling who perhaps need to spend the night in town. The only difference is that you have to pull in your customers yourself as against listing in a known service site like Airbnb.

-Start a Popup Restaurant:

If you have a large kitchen area with dining and you love to cook, you can start a pop-up restaurant in your home, you get people to book your meals and they arrive during the scheduled time to eat your homemade meals. This will probably work well if you live in an area where people value good homemade meals and they don’t want to break the bank for it.

-Rent your Parking Space:

If you are someone who has an extra parking space that is never in use during the day, you can make money from it by renting it out to people who are in need of it. This option will be valuable if you live near a busy area where parking is scarce and quite expensive.

People will be willing to pay you to park their cars since you will offer a cheaper alternative to paid parking lots. Parqex is a good example of an online platform that connects users with renters.

-Make money from your Garden

Are you someone who loves to have beautiful gardens? you can rent it for one-off events like weddings, engagements, children’s parties, especially during the season when people prefer to be outdoors than indoor, you will be able to make money using this option if you do not mind having parties in your garden or cleaning up after they are done.

-Turn your Loft / Attic into a private workspace

Some people love to leave their own house to go and work in places where there are fewer distractions.

You can turn your loft, attic or den into a private workspace, that you can lease out to people who need it, more like wework model but this is definitely from your home.

Before you get into any of these ideas please ensure you research the legal requirements and make sure your insurance allows you to take any of these options as an income earner for you.

Do you want more ideas on how to make money from home, read my post on 7 side hustles you can do to make money?

Join our Newsletter for more ideas like this