How to Create Extra Income Off Your Garage
Which one of us couldn’t benefit from a little extra income? When it comes to making money from side projects, one of the main factors is ease. We all want to pad our income while still having the freedom to stay devoted to our main occupations, relationships, activities, and goals. Thankfully there are a number of advantages to living in the digital age. Looking for a surefire way to add some extra income? Do you have a garage and a smartphone or a computer? Luckily that’s all you need to put a little extra money in your pocket each month with garage conversion leasing opportunities.
Garage Conversion Advantages
Though most get rich quick schemes sound too good to be true (and in fact they are), what we’re offering is the opportunity to increase your income by repurposing what you already have. This isn’t about becoming instantly rich; it’s about investing in a project that will pay for itself over time, leaving you with a beautiful, renovated space and an extra source of monthly income. Garage conversions simply take space that the homeowner already has and convert it into an economic opportunity.
For many homeowners, garages are untapped resources. They often are filled with junk and can’t even be used as an adequate parking space. Turning this area into an Accessory Dwelling Unit, or ADU, will increase your property value and create leasing opportunities for the space. Investing your money into a conversion will pay out in the long run, since the process quite literally pays for itself if you consider renting opportunities.
Rent Your Garage
Is your home located in or around Los Angeles County? Owning such prime land has more advantages than just the property value. There are hoards of people willing to rent out space in order for an affordable time in L.A. This makes having a spare room quite advantageous. Converting your garage into a studio apartment affords you the ability to not only rent out the room for additional income, but also maintain your privacy and personal space in the main house.
Consider the advantages of this type of situation. The additional income you will receive from leasing out the space will be able to fund the monthly conversion project loan payments, while still putting extra money in your pocket. Not only does the space pay for itself, but you will receive additional monthly income as well. This creates a long term situation where homeowners can continue to reap the benefits of their rented space.
At Home Advantage
Another option is to convert your garage into an at home office. While many people attempt to work within their home, the advantage of having your own personal work sanctuary cannot be undervalued. Having your own private space to meditate and focus will create optimal opportunity for productive work. There are many advantages to working from the comfort of your home, especially with privacy from the main house.
For one, you will save invaluable time on your commute that can better be put towards working. It’s no secret that L.A. traffic is far from forgiving, and you’ll also save expenses on gas and all of those morning and afternoon trips to Starbucks. Working from home allows you more time to work productively, while also saving on everyday expenses. Over time, these savings will really stack up. The improved lifestyle and reduced-stress environment are just added bonuses. Not to mention the comfort of your home!
The Big Picture
No matter what you decide to do, garage conversions will leave you with possibilities. Perhaps you want to rent out the space until the project pays for itself. At the end of this venture, you will be left with a fully furnished living space that you can use to house visiting family and friends. Or perhaps you can use the space for a den, playroom, or family room. The possibilities are endless and the choice is entirely yours.
Converting your garage might seem like an overwhelming process, but there are experts here to guide you every step of the way. Are you interested in increasing your property value? Would you like an additional source of monthly income? Do you want to get the most out of your space?