Some homeowners are more sentimental than others. When they move to a bigger, better house, they can’t go the usual path most people take — selling their old home. No matter the reason you can’t let go, avoid the mistake of leaving your previous house unused.
All infrastructure deteriorates fast without regular use and maintenance. Spending huge sums annually to preserve it might not be the wisest move to take as well. If you’re against long-term renting, there are other options you can consider to make money out of your property. This way, you can generate extra income while still preserving an asset.
Vacation Rental
Today’s generation of vacationers often wants more options than they can get in hotels and resorts. This means the holiday rental market is big, but so is your pool of competitors.
Before putting your house out there, consider investing in renovations. Entertainment amenities will attract more clients, especially if they’re looking to unwind during a hot summer in Florida or Utah. Home upgrades don’t have to be grand, but they do have to be appealing.
If you plan to upgrade your old home in Utah, for instance, refer only to reputable swimming pool contractors. Consult with a horticulturist to give your garden a makeover. Electricians and plumbers should also check your house for anything that needs fixing.
If there are things you feel the clients may disapprove of, mention them in your description of the house. People appreciate a well-written word of caution. Withholding information about your troublesome driveway may lead to a bad review on the listing site. Cap your listing with a couple of excellent photos and an affordable price to attract clients. You might be surprised at how much money vacation rentals can bring.
Film Set
You don’t need to spend a lot of money and effort to get your house noticed by a location scout. With all kinds of films and tv shows popping up, you’ll never know if your home is exactly what a producer wants to film in. Although it’s a less reliable source of income compared to vacation rentals, it can still bring you a lot of money.
You can get your property noticed by posting it on websites that scouts refer to for locations. They also leave flyers sometimes, so stay alert for any they may leave behind in your neighborhood. Once you get in touch with a location scout, practice caution and check if that person is with the Location Managers Guild International. If they’re legitimate, their movie may be the first of many film and commercial shoots in your house.
Storage and Parking Space
The usual storage facilities can cost a lot of money annually, forcing many to search online for an economical option.
If you still have belongings in your old house, simply clear the shed, garage, and bedroom to make it viable as storage space. Listing your home online takes only a few minutes. It also comes with a set of guidelines to follow, particularly in what you can and cannot store for other people.
The same trend applies to car park spaces. Traffic isn’t the only annoying thing about rush hour. Finding a good parking space also takes a lot of time. This is why people advertise their property to professionals and tourists looking for parking spaces to rent on a daily or monthly basis. This has become a preferable alternative to the usual parking lots. Don’t be shocked to see how many people are willing to rent parking spaces for the sake of convenience.
Clever Moves
A property of any size and type is an asset worth maximizing. It’s also a good source of income to fall back on in difficult times. Since nothing in life, especially in finances, is ever certain, you’ll be glad you make good use of the house you didn’t want to sell.
