It’s time to stop thinking of your homestead property as simply a place for you to live. The truth is that anyone who owns their own home is sitting on tremendous investment potential but a lot of us simply let it go to waste. Here, we’re going to look at how you put a stop to that and how you start making money off the most valuable asset you have.
Effective Means of Making Money With Your Property
Living off your land
Of course, we have to mention the potential to start making a profit within your very first year of homesteading. Depending on your local market, it won’t always be easy, but if you’re able to find and start producing a product that isn’t very available locally but perfectly fits your climate, you could find yourself with consistent, reliable income. Perfect for those who prefer a more hands-on way of making money.
Options for making money from your land can come from the sale of vegetables, fruit, herbs, and any harvestable food product. The sale of farm-fresh eggs, goats milk, or even the sale from the breeding of baby goats or baby chicks are all ways to increase your income. Look around and think out of the box for ways to make money.
If you have space, the attention to detail, and a welcoming heart, then your home could be a bed and breakfast to travelers and vacationers of all varieties. There are plenty of tips on profiting from guests, but if you’re also homesteading, why not combine the two? Your homemade goods could prove both an attraction, as part of their breakfast, and an extra revenue stream since you can sell them as souvenirs to your guests.
Offering a small shop somewhere in your home or on the property can provide a little extra money on the side. You can sell things like postcard pictures of your property, wooden signs, and keychains. There are unlimited ideas here.
Getting on the ladder
If you’re willing to downsize or start renting, or you have two properties, then selling your house to get on the property ladder offers the most significant gains. Get plenty of advice on flipping, finding opportunities to profit, and making sensible investments before you get started on the property ladder. Property will always be one of the most reliable assets to invest in. Even when the market suffers, it always comes back.
Hit the silver screen
It’s something of an odd option but it’s one that’s getting more and more viable. There are more movies and TV shows being produced nowadays than ever in the past. If you’re willing to let production crews use your home, then you could be making money by getting in contact with location scouts. There are even websites that let you list your home as an available location, making it easier to pair up with producers.
Don’t forget the documentary shows that are always searching for homesteads to film for upcoming shows too.
Save the student
Perhaps you don’t mind the idea of being a landlord, but you don’t want a tenant to be a permanent feature of your home. Naturally, you have to live near a college or school, but renting out a room to a student can be a highly reliable way of making money every year. But becoming a landlord also involves taking all the responsibility of a landlord, including making fixes and adjustments to the home where necessary.
You can take it a step further if you have a full working farm and offer internships for farming or part-time work for college students that are willing to lend a hand around the homestead.
There you have it, 5 means of making money from the homestead land you live on. Some are untraditional and out of the box, but may work for many homesteaders. Do any of these seem like options you have for making money from your land? Let me know your thoughts in the comment box below.