You have a spare room in your house, and it’s empty. You could use that space to store things, but you know there are better options out there. You’re right! If you’re willing to put some work into it and make a few smart investments, your garage can become a money-making machine.
From Airbnb rentals to storage fees—and everything in between—here are some ways your garage can earn you some cash:
Create a space to sell your goods
If you have a lot of junk to clear out, your garage can be an ideal space where you can sell your goods to people who want them. This shouldn’t be too difficult—a garage is a perfectly good place to put up some tables and start selling, especially if you add some sort of signage that says “Garage Sale” or something similar.
Store goods for a fee
If you have a garage, likely, you’re not using all of the space in it. If you have a small family, chances are good that you don’t need as much room as your garage provides. Instead of letting this space go to waste, why not put it to use by charging people to store their household items?
You can charge based either on a flat rate or the size of their stored goods. For example, you could charge $10 per month for up to 1 square foot of stored material. Alternatively, you could rent out the entire garage and charge significantly more.
If people are willing to store their things with you for long periods at a time—say more than three months—you could offer them discounts on their storage fees; in fact, some people may even pay extra just for peace of mind knowing that someone else is responsible for keeping track of their belongings while they’re away!
You could even use your garage for people to safely keep their cars while they’re working nearby. You’d be surprised how many people are looking for Boston monthly parking options just like your garage!
Utilize the space with an Airbnb rental
If you have an empty garage, consider renting it out as a second home. It can be a great way to earn some extra cash; just think of all the possibilities!
Tiny homes are becoming increasingly popular, so it doesn’t matter if your garage is on the smaller side – there’s sure to be someone who would love to stay in it.
If you don’t have room to put in a bathroom and some kitchen facilities, why not just convert it into a bedroom and let your guests share the facilities in the main house? This way, you’ll earn a nice side income while also meeting some amazing people from all over the world.
Do work on other people’s cars
For this strategy, you’re going to need a garage and some tools. It’s also recommended that you have a license and insurance, and of course, some skills!
Check local laws to see what it takes to set up your own business. Once you have everything in place, it’s time to start advertising. Local classified ad sites and Facebook groups might be a good place to start – and word of mouth is sure to bring in plenty of customers in no time.
Buying used cars is another great way to put your mechanic skills to good use and turn a tidy profit from the comfort of your own home. You can buy the cheapest vehicle possible and fix it up so it’s at least functional before selling it again for a higher price.
Have garage sales with other people’s items
Garage sales are great because most people don’t want to drive far for them—they’re usually near home or work, so they can pop in and out quickly. So, you’re sure to have plenty of people stopping by on their way home.
Perhaps there are a few people nearby who just have a few boxes of items to sell – not enough for them to have their garage sale. If you can find a small group of people all with things to sell, you’re in luck! Find a time that suits everyone and get planning your garage sale event!
But here’s the thing: Don’t charge too much money for your items. You want people to buy them! People will only pay full price if they need what you’re selling, but remember, they’re probably going to want to negotiate a better price than your first offer.
Upgrade your garage
Our last tip isn’t going to make you a quick buck, but upgrading your garage is a great long-term investment. When it comes time to sell your property, it’s sure to have a higher asking price than if it didn’t have a garage, or its garage was in poor condition.
So, you might have to spend a bit at first, but trust us, it’ll be worth it in the end! And, before you decide to put your home on the market, you get the pleasure of having a modern, functional garage to use as you please.
Maybe you want to convert your garage to a gym – in this case, you’ll get fit while adding value to your home! Or maybe you’ve been thinking about starting your own business. A converted garage can be the perfect office, studio, or anything you want it to be to make your dreams a reality.
One of the best things about your garage is that it can be whatever you want it to be. What’s more, there are many ways to use a garage and make some cash while doing so.
With this in mind, you should think about what types of events or items you could showcase in your space and put them into action.