Owning your own home is a dream that most people have. Having a place that is completely yours is an attractive thought. However this costs money, and sometimes it’s too much money. There are ways though, to make money from your own property. It’s kind of like your home is paying itself off in a way, so what’s not to like about it? Here are just some of the ways that it can do that:

1. Renting out Rooms

Almost everyone has heard of Airbnb by now. Many a traveller has used this service instead of the traditional hotels because it’s cheaper and allows for people to live like locals during their stay in another country. If you have an investment property, or even just an extra room, you can rent that out to people interested in the city you live in. Who knows, you might even discover parts of your own city that you didn’t even know about. Otherwise, you can just rent out an entire place and help someone with their local experiences, while earning some extra money at the same time.

2. Tools

If you have tools that are lying around, gathering dust and rust, why not rent them out? People need tools from time to time and don’t want to purchase their own set, so having the option to rent tools from those who have them is a great way to save money and get the job done. Marketplaces like Toolshare allow for people who have tools to rent out to people without them. You could always keep in contact with your renter as well, so that any time you need a shovel or drill, you know just the person to visit.

3. Baby Equipment

Children are a joy, however they can get expensive. The cost of prams and baby cots are always increasing as better models and more advanced technologies promise better sleep for your child or more comfort. It’s all well and good, but the cost of everything is going to be exponential. One way to combat this is to rent some of your baby equipment. It could be something as simple as a children’s vehicle seat or a pram. You can just rent it whenever you need to travel with your child. Kindershare has owners who rent out things like changing tables and strollers for around $10 per week.

4. Garage Space

Parking is such a valuable commodity. Everyone wants a space of their own so that they don’t have to worry about circling around an area multiple times in the hopes that someone will vacate their space. You can always take advantage of off-street parking options, but they can sometimes be a little on the pricey side. Using someone’s garage or driveway as your own personal parking space is the next best thing, especially when it’s close to your place of work or where you need to be for the day. If you’ve got an unused parking space on your premises, rent it out to drivers who need parking in your area on Parkhound. Simply list your parking space, set your own schedule and requirements, and tailor it to meet your personal timetable. It’s a simple setup and you earn money from essentially having a garage.

5. Storage Room

If you have an extra room that’s just empty and unused, why not rent it out to people who want some extra storage space? The marketplace Spacer allows for you to list your extra space onto the platform and rent it out to people who need it. It’s a familiar process and it ensures that you get renters interested in your space and renting it for longer stretches of time. You can rent out your garage, basement, even your attic, to renters needing extra storage room to fill with their furniture, documents and other precious mementos. It’s also a nice feeling to know that you’re helping people with their storage issues while at the same time earning some extra money from your own home.

Owning your own home is expensive, so the thought that you may be able to make some extra money off of your home literally sounds almost too good to be true.

It’s not just limited to your home and the rooms it has, it can also be any equipment you have lying around, gathering dust from disuse, anything that others might be able to use for a time. Additionally to making money, you also have knowledge of the fact that you’ve helped someone in their lives, whether it be from renting out your baby stroller or letting them park in your garage space.

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