Houses are a huge liability because they can easily drain your money. Keeping your home means paying for maintenance, repairs, and utilities. Plus, a house requires you to pay taxes and other mortgage costs.
It’s hard to make your home an asset, especially if you live in it full-time. However, it’s not impossible. There’s plenty of easy processes to make your home into a money-making machine while still living in it permanently. Here are simple ways to do it.
Grow your own food
Have a yard where you can convert it into a garden? Grow your own food now! This saves you money from buying herbs like basil, rosemary, oregano, and more. If you have some extra produce, you can sell them to your friends and neighbors. If you have a larger yard, tend some livestock like pigs, cows, and chickens.
This not only saves you money from the expensive groceries but generates income by selling them too! Although, you may have to care for these plants and animals before you can reap money from them.
Open a sari-sari store
Want a business that you can operate and monitor at home? Try opening a sari-sari store! Sell anything from food, toiletries, supplies, and other essentials. Your options are endless as to what you can sell to the community. There’s some stuff you can sell such as mobile load, liquor, cigarettes, and more — they’re always best-sellers!
It’s important to remember that opening a sari-sari store may require you to process legal papers from your barangay and municipal or city hall. You may also have to process your taxes and pay your government contributions yourself.
Start a business at home
If you’re working in an office full-time, you may still use your home to generate money. Online businesses have become extremely popular nowadays. Depending on your line of business, you can use your home as a warehouse or a factory. Simply list your products on different online marketplaces and you’re good to go.
Otherwise, working from home can also turn your home into an asset. By utilizing your home as your office, you can essentially turn your house into an asset.
Rent out your spare room
Got some extra room you can rent out? Sharing your space with a stranger may not be for everyone, but it can earn you some good money. You may also have to redecorate or refurbish parts of your house, including toilets and common living. But, this is all worth it considering that rental income can basically pay for the house expenses in the long run.
As the landlord, you may have to keep the maintenance and pay for repairs. You may also have to be careful about living with other people. Of course, it’s great if you trust people you’re co-living with, but it’s not too bad to be extra wary.
For affordable homes and friendly communities, choose BellaVita — Sakto Sa’yo! For more inquiries about BellaVita homes and location, visit BellaVita, or send a message through Facebook.
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