12 Ways to Make
Extra Cash From Home
Previous-
You're Sitting on a Gold Mine
Want to earn some extra cash? Turn your home into a money-making machine. As times get tighter, many are looking for ways to bring in more moola. Here are some traditional, and some offbeat, ways to bring in cash without leaving home.
Click through our photo gallery as Bankrate shares 12 ways to create a home-based source of income. (Just make sure to check local ordinances, any license needs and other restrictions before you jump in.)
First Up: Money Maker No. 1 -
Host a Yard Sale
Yard sales have one built-in advantage over garage sales or indoor sales: curb appeal. "One crafter who had steady traffic in front of her house decided one day to put several items out in her front yard," author Barbara Brabec says. "She had a big shade tree and made it very festive with an umbrella and a couple of eye-catching items and she sold up a storm that day. She didn't have to advertise or anything."
· See Ideas for What to Sell
Next: Money Maker No. 2 -
Fire Up a Bakery or Production Kitchen
Do you have an unused mother-in-law apartment or an industrial-sized kitchen that sits vacant all day? Rent it out as a food production facility. Custom cookies and cupcakes, delivered gourmet meals and birthday party catering are popular services that don't require a storefront but may need additional ovens and kitchen space.
Next: Money Maker No. 3 -
Rent Out a Spare Room
Renting that spare bedroom or mother-in-law apartment to a college student or quiet single can be a great way to turn empty space into cash, as long as local ordinances permit it. For homeowners with the skills, taking in elderly roomers on a room-and-board basis can generate even more income.
· Who It's a Good Option For
Next: Money Maker No. 4 -
Create a Home Studio
Sell your art or crafts through online Web sites, like the arts and crafts portal Etsy.com. Not the artistic type? Rent out your available space to art students, photographers, crafters, scrapbook enthusiasts, musicians or other creative sorts who don't have sufficient room to express themselves in their dorms and apartments.
· See the Up- and Downsides
Next: Money Maker No. 5 -
Throw Party Sales
Some homes are just natural gathering places. Turn yours into a selling place by hosting a party sale. Products such as Avon cosmetics and Tupperware started the craze. But today, anything goes: lingerie, essential oils, bath and body products, children's apparel, etc. And you don't have to be the salesperson; independent sellers may be willing to part with a share of their profits to use your home instead of theirs.
Next: Money Maker No. 6 -
Share Your Garage
If you have a garage you never use -- or an extra spot in a three-car garage -- consider renting out that unused space. A weekend mechanic who lives in an apartment may pay for the chance to work on his or her ride in your garage. Others may be looking to store a motorcycle, boat, trailer or recreational vehicle. Still others may prefer the location or convenience of your garage to the local self-storage options, especially if the price is right.
Next: Money Maker No. 7 -
Go to the Dogs (and Cats)
Consider opening your house as a boarding place for dogs and cats. Think of all the people who are tied to their homes because they can't get anyone to take care of their pets. Many pet owners would prefer to board their animals in a private home rather than a commercial kennel. If you have the space and inclination, call a few local boarding facilities to get an idea of pricing. Not ready for extended pet stays? Open a grooming, bathing or pet food distributing business in your home.
Next: Money Maker No. 8 -
Getty Images
Grow a Cash Crop
If you've got a green thumb and a bit of tillable land, consider growing a cash crop. Although commodities, such as wheat and cattle, are well beyond the scope of most backyards, berries, flower bulbs, vegetables, grapes and landscape plants can be cultivated and sold to wholesalers, at farmer's markets or on your front porch.
· If You Don't Have a Green Thumb ...
Next: Money Maker No. 9 -
Get Into Order Fulfillment
Home-based entrepreneurs create products that get shipped all over the world. Somebody's got to do the shipping, and that's where your spare space can help. If you have room to store their items as well as the shipping supplies (boxes, packing material, etc.), open your own order fulfillment center. Look for companies that would rather hire you than some faceless, out-of-state fulfillment giant. If you are computer-savvy, it's easy to take on their inventory control as well.
Next: Money Maker No. 10 -
Start an In-Home Daycare
If you're a parent, you know that quality day care is expensive. Enterprising stay-at-home parents may consider starting a home day care facility. "A full-time day care center with a dozen kids in your home year-round is a very profitable business," Brabec says. Such businesses have become heavily regulated in many jurisdictions. Be sure to check with your local and state agencies to make sure you can legally operate a day care where you live.
Next: Money Maker No. 11 -
Put Your House on Film
Does your home have star potential? You might be surprised. According to Gary Bond, director of film marketing for the Austin (Texas) Film Commission, ordinary houses can be the hardest to find when scouting film locations in Texas. "The toughest houses for me to find are the ones that have no character, because we just don't take photographs of those houses," he says. · Turn Your Home Into a Film Location
Next: Money Maker No. 11 -
Royalty-Free/Corbis
Become a Sitter, Baby!
Baby-sitting is also one of the easiest and most lucrative ways to make money in your home. "That's so obvious that it's often overlooked," Brabec says. "But do you know what babysitters are getting right now? About $20 an hour here in affluent Naperville, Ill." It's no longer limited to Friday and Saturday nights, either. Today, there's a growing need for supervision of "latchkey kids" on weekdays after school.
· Full Article: Printer-Friendly
· Tell Us: How You Make $$ at Home
Next: Extreme Savers' Secrets -
More on AOL:
"Uber Savers" Tell All
These days, as the cost of food and gas skyrockets, credit becomes more difficult to get and consumer confidence reaches an all-time low, saving has become a must. At a time like this, it makes sense then to tap into the experience of people who are passionate about saving without living a Spartan life.
Click through our next gallery to learn the creative and successful ways they stretch a dollar.
Start Next Gallery: Extreme Savers Share Their SecretsMore in Money & Finance:
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