Tips & Tricks

From Storage to Profit: Tips for Monetizing Extra Space in Your Home

Are you a homeowner in Oakland with extra space in your home that’s not being used? Whether it’s a spare room, basement, or garage, that unused space can be valuable to generate extra income. 

In this article, we’ll discuss how you can monetize your extra space and turn it into a source of profit. Read on for tips and ideas on how to turn your unused space from storage to gain in Oakland.

Rent it Out for Storage

Renting out extra space in your home for storage is a popular way to generate income. Using platforms like Neighbor or Stashbee, you can connect with people needing storage space and rent out your extra garage, basement, or spare room to them. This is an excellent option for those with extra space that they are not using and can earn a steady creek of income without investing a lot of time or money into it.

Build an ADU

Building an ADU (Accessory Dwelling Unit) is a great way to maximize your extra space’s potential while increasing your property’s value. ADUs are secondary homes that can be built on the same lot as your primary home. They are a popular choice for homeowners in Oakland looking to generate extra income by renting out their ADU. 

If you’re considering building an ADU, be sure to work with a reputable builder specializing in custom homes in Oakland to ensure that the design and construction of your ADU meet your needs and local zoning requirements. Additionally, a custom builder can help you pick materials and finishes that fit your budget while still achieving the look and feel you desire

Create a Workout Room

It is a great way to use extra space while promoting a healthy lifestyle. You can transform an unused room into a functional fitness space with the right equipment and setup. First, choose a room that has adequate space and ventilation. 

Next, consider purchasing workout equipment such as a treadmill, weights, or a stationary bike. You can also add mirrors, flooring, and lighting to create a motivating and safe environment. Be sure to design a space that accommodates your fitness goals and preferences. A workout room can be an excellent investment for homeowners who want to stay active and healthy from the comfort of their own homes.

Rent it Out as a Co-working Space

It is an excellent way to generate income. Many people seek affordable and flexible workspaces with the rise of remote work. Using platforms like Deskpass or Breather, you can list your spare room or garage as a co-working space. 

It can help you connect with freelancers, entrepreneurs, and small business owners who need a place to work. This is a flawless option for homeowners with extra space who can earn a steady income stream without investing a lot of time or money into it.

Bottom Line 

There are many ways to monetize your extra space and turn it into a source of profit. Whether you rent it out for storage, use it as a co-working space, or build an ADU, the possibilities are endless. Remember to explore different options and invest wisely to ensure your extra room works for you. With the right strategy and preparation, your unused space can become a valuable asset that generates additional income and enhances your quality of life.

Rachael is a 31 year old mum to 10 year old Luke and 5 year old Oscar. She lives in England and writes about family life, crafts, recipes, parenting wins(and fails), as well as travel, days out, fashion and living the frugal lifestyle.

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