How To Make Money From Your Home

Regardless of whether you’re a homeowner or a renter, you probably have options to make money from your home. Here are three ideas you might want to consider.

Rent out your address

If you have any spare space in your home you can probably rent it out to somebody. Even if it’s only available part of the time (e..g at weekends) there’s a good chance that somebody will want it. If, however, you don’t (or you’ve already monetized it), then you could still rent out your address itself.

Even though many people are (still) working from home, many aren’t for various reasons. Some never were. Some are but still don’t have time to deal with package deliveries. For example, if people have home-based customer-service jobs, they may well have to make phone calls their top priority.

If you’re in a position to have other people’s mail/parcels delivered to your address, then you can charge a fee for it. You can still keep your address private by having them use a PO Box and then having that redirect to you.

Make it a location

If you’re happy to have your home photographed and/or filmed then you could offer it as a location. This is unlikely to be a steady income, although for some people it can be. It’s more likely to be a lucrative boost every now and again.  

Allowing your home to be used as a location won’t impact your security (as long as you use a reputable agency). The company using your property will make sure that any identifying details are either not shot or edited out. You can see this for yourself if you pay attention when you see houses in photos or on video.

The only real potential downside to this option is that it generally requires you to vacate all or part of your home while the company is working. Even if you’re allowed to stay in it you can expect some level of disruption. You can, however, expect your home to be left in pristine condition after the work is done.

Turn it into a business

Not only can you work and/or run a business from home, but you can also make your home your business. There are all kinds of options for doing this. Possibly the most obvious one is to develop a social media platform based on your home (and/or garden). Once you have built a following you can turn it into a sustainable income.

There are, however, plenty of other options. For example, you could “mystery shop” from home. Local businesses may be very eager to work with trustworthy mystery-shopping companies, especially if they have fallen victim to Yelp extortion.

As COVID19 restrictions ease, you could also potentially use your home as an event venue. This is similar to letting out the space but there are several important differences. One is that it’s likely to be a more viable option for renters as people will only be visiting rather than living/working in the property.


FUNDRISE | Real Estate Investing

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About Kamilah

My name is Kamilah and I am a native New Yorker of Caribbean descent who is passionate about helping you learn how to invest and build your net worth by sharing easy-to-follow YouTube tutorials that will help you take control of your money and set you up for financial success. But this wasn’t always my story.

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