Research suggests that 94% of garage owners use their garage for storage. While some of them also use it to keep a vehicle in, this illustrates how wasteful garages generally are. Of course, it is understandable, it can be a real hassle opening and closing a garage, that’s why most people choose to keep their car in the drive or under a carport.
The good news is that this unused space can be turned into cash. You just need to know how!
1. Rent It For Parking
If you live in a city, or even on the outskirts of the city, you will find that parking is in high demand. In short, it is expensive to park a car every day in the city. Most people choose between car parks and on-street if they can locate any.
But, you can give them a third option, your garage. All you have to do is hook up with a company specializing in long-term parking NYC and they will advertise the space for you. The customer will save money on their parking and you will make money by renting out your garage.
2. Storage Space
Another way to make money from your garage is to offer it as storage. There are plenty of people who need somewhere to store items for a new business venture, furniture while they move or hundreds of other things. Your garage can be the perfect space for them, giving them a cost-effective solution to their issues and making you a little extra money.
You can advertise privately, you may be surprised at how many people are interested in the space you have available.
Of course, if you are renting your garage make sure you have a contract created that specifies what can and can’t be done. This will make it much easier if you need to cancel the arrangement.
3. Create A Spare Room
Another great use for an unused garage is to convert it into a bedroom. You will need to speak to your local authority to get permission to change its use. But, once you have done this you can change the garage door for windows and a door. Plasterboard the inside and add all the usual furnishings. Yes, you will need to invest a little in this project.
But, you can rent the room out after you have finished, earning yourself some extra funds. At the same time, you will be increasing the value of your home which puts extra funds in your pocket in the future. That makes this a win-win approach, especially if you think you will sell your home one day.
There are other ways of making money from your garage, such as turning it into a space to pursue your hobbies and then selling the thongs you have made. The bottom line is your garage is currently wasted space, using it for something is a better option than simply continuing with the status quo.