Whether you’re working to pay off your mortgage early or looking to save enough to upsize, every penny helps. Here are five ways you can earn or save money to reinvest in your home.
1. Solar panels.
Installing solar panels requires some initial planning and financial investment, but once you make the switch, they can save you thousands of dollars a year on electricity.
2. Sell unwanted stuff.
Yard sales, Craigslist, and Facebook Marketplace are just a few ways to reclaim money you spent on items you no longer need.
3. Rent out storage space.
If you have a garage, attic, basement, or storage shed, rent the space to someone for a little extra cash.
A guest room is a great money-making resource when you pair it with a rental app like Airbnb. Either list your spare room continuously or open availability for special events in town.
5. Rent out extra parking.
If parking is an issue near your home or you have a yard that could host a boat or RV, consider renting out the space. Parkonmydrive, Justpark, and Spot are great tools for finding people willing to pay to park.