One of the reasons you likely got into home ownership in the first place is because you saw it as a good investment. But real estate appreciation isn't the only way owning a home can make you money. This article in Canadian Living magazine does a great job of highlighting 7 Ways your Home can Make you Money.
In addition to the obvious (i.e. renting out your basement), the article highlights a few less common ways to make money from your home - like running a bed and breakfast (definitely not for everyone) or renting your home out to a television or film company.
Depending on where you live, you may also want to look into making some green renovations. Not only will this save you money in energy costs (which is essentially the same as making money, isn't it?), but some jurisdictions allow you to sell additional energy (like that generated from the installation of solar panels) back to the grid.
Starting your own backyard vegetable and fruit garden may also be an option for you. Not only will this save you money on your grocery bill, but if your garden is big enough - and productive enough - you may also want to look into selling some of your homegrown food at a local farmers' market.
Has your home helped you earn additional income? If so, we'd love to hear how!
No comments:
Post a Comment
Your comments are not only welcomed but encouraged. It is not expected that you will always agree with what I have to say. After all, it's an opinion.