Bangalore: Money is arguably an integral part of everyone’s life. People find several ways to become rich and if you play your cards well then you can earn huge amount from your own property. House is a tangible as well as most valuable asset for an individual and there are ways with which you can earn handsome money. Check below the list of such ways.
1) If you have spare room, rent it:
Owning a house earns big profit when it comes to real estate investment. If you have any spare room at your home, the best way to use it is by putting it on rent. Although many people do not prefer to rent their own personal home even if there are unused rooms. But to think logically and financially, empty rooms can earn good rental income. Renting a portion of the house also benefits retirees and single home owners as they can manage the house by splitting the maintenance cost and other charges along with good rental amounts.
2) Rent your parking space
Have you ever realized that parking space which comes with your apartment can also help you to earn big amounts? If you do not require or use your parking space then you can put it on rent and can earn rental amount. Similarly, if you own a house and you are not using your parking then try this tactic it will surely help you to generate profits. Most importantly, before giving your parking for rent check the renter properly to avoid future hazards.
3) Set up your home for Home-stays
Renting your property as a holiday home also sounds profitable. If suppose you have a second home that too in tourist destination, the best options to earn big bucks is by renting it out. Also, if the destination attracts people other than tourism purpose, such as meetings, incentives, conventions, exhibitions and others, the demand for property will be continuous in such places, which in turn will increase demand for your property as well as the rental amount.
4) Earn money from your basement
Besides, if you are planning to buy a house, seek properties that come with spacious basements. You can use the basement for rental purpose by adding a kitchen, bathroom and a private entrance which can be done without much investment. Following this step, your tenant will get their own private space and will further help you to earn big profits from rental amount.
5) Turn into a real estate agent
Becoming a real estate agent will also allow you to earn big in real estate market. In today’s fast track life, people do not have enough time to sit and search for properties they going to buy and this is the time when a real estate agent acts as a savior. Agents are paid commissions when properties they have sorted out are sold and they even get handsome commissions if the real estate transaction is big.