Guest post: 3 Ways to Create an Extra income Stream from Home

(Photo by Upsplash)

Want to earn an income but don’t know how or where to get started? Your home can be a money-making machine. Here are a few ways you can add to your finances by taking advantage of your own house…

Sell Items Online or in Yard Sales

If something’s just gathering dust in your house, consider selling it. You could have a cabinet or a couch you no longer need — sell them online! A yard sale is also an excellent idea if you have more items you need to dispose of that are in good condition. In addition, yard sales are visible and advertise themselves, which is an advantage over indoor sales. Make sure you check your local zoning laws and homeowner association restrictions to avoid issues.

Make Renovations and Share the Steps

Equity is the percentage of your home that’s already been paid off. If your home is worth significantly more than what you still owe on your home loan, you may be able to use that equity to pay for home enhancements or renovations. It’s a smart way to finance a renovation project. You may even enjoy tax deductions (if you use the money to enhance your home substantially) and low interest rates (because the property is used as collateral for the loan). Additionally, you can expect a healthy ROI with the right renovations, as well as sell the house quickly and for more money, if that’s something you’re considering.

Start a Blog or a YouTube Channel

Blogging is a smart way to make extra cash. If you like sprucing things up regularly in your home, create a website or a YouTube channel to share your home improvements, DIY projects, flips, and more. You can create an additional income stream by placing ads on your website and earning sponsorships (in time). Post often, research the best times to upload content, make your home enhancements compelling, and really provide valuable information — more people will like and share your videos and content this way, helping you earn more.

Affiliate marketing is another excellent way to make money when you run a home improvement blog. You could simply recommend products or items you like or personally use in your projects. Each time a client uses your link to purchase, you’ll earn a commission. Of course, you’ll need to reach and build up an audience for your platform to take off. Promote your posts and videos on social media accounts by sharing before and after images of your projects.

Making cash off your home is relatively easy as you have more options than you might realize. Whether through selling stuff you no longer need, starting a blog or vlog to document home renovation tips, use your home as the starting place to get your message across and get visitors coming back for more.

Today’s guest post was contributed by Seth Murphy.  Seth first dabbled in DIY projects because that was cost-effective. Now Seth hopes his blog, Papa DIY, will encourage readers to take a chance at tackling their own hands-on projects… check out Seth’s blog at https://papadiy.com/about-me/