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How Your House Can Make You Rich

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Feeling like your home is a money pit? Here are four ways to put your home to work for you.

Having a home costs money. And whether you're paying rent or a mortgage or paying for your digs in full, it's rare that you see any significant return on the cash you put into it.

That doesn't mean your home is a total money pit. We found several creative ways that you can actually make your home work for you -- and your wallet.

get rich at homeEtsy seller ItzFritz sells these colorful yarn wreaths for $40 a pop. Photo: Etsy


1. Become a Crafty Entrepreneur.
Handmade is hot right now and online markets like Etsy are the place to cash in. Danielle Maveal, Etsy's Seller Education Manager, says you don't need much space to start your own home studio. If you're a traditional artist, you'll need a bit of space and ventilation (a spot in your garage, basement or a spare room). However, if you go digital, all you need is a spot to prop a laptop, a drawing tablet and a nice printer -- perhaps a box to stash some shipping supplies, and you're good to go.

But "just because you create it (or collect it, if it's a vintage item) doesn't mean people are going to start buying by the hoards," she says. Curating, or editing, is definitely in order. Take all the work you've created and start to create a line of work; think about what exactly you want to say.

When it comes to actually selling the work from your home, how you present it makes all the difference. Jamie Shelman, blogger and Etsy artist says, "Taking great photos of your work is key! How you present your artwork is just as important as the work itself, and more often than not it's what makes the difference between someone understanding/buying your work."

Context is everything; it is important to remember the item isn't just an image on a screen. "For flat 2D objects, such as drawings and prints, show a scanned version of the work, but also a shot with space around the work. You want to give your viewer an idea of the size of the piece, as well as its presence," Shelman explains.

2. Cash In On Your Clutter
"Holding a garage sale is probably the easiest, no nonsense way to make money fast," says Lynda Hammond, author of The Garage Sale Gals' Guide to Making Money Off Your Stuff. And she knows first hand, having made up to $1,000 a day hosting garage sales of her own.

The biggest money makers, Hammond has found, include furniture and electronics -- working or not, since people will buy them for parts. Collectibles come in third, though they don't bring in quite as much money, Hammond says.

Her best advice for garage sale success: Do your research, head out early (serious buyers are early birds), and "don't waste your time pricing stuff," she says. "You'll likely get more money if you don't and it's more fun to throw out a price then haggle from there."

3. Get Paid (For Your House) To Be in Pictures
Turn on the TV or open up your favorite shelter magazine and there it is, someone's house. Believe it or not, that home could just as easily be yours, and you could be getting paid to have it featured.

Location scout Debbie Regan has been asking homeowners to open their doors for cash for over twenty years -- seeking out locations, including homes, for movies, TV commercials, magazines, catalogs and music videos. And it doesn't have to be a zillion dollar estate to be considered either, she says.

"We have had shoots at very large estates, townhouses, as well as smaller suburban homes," she says. It all depends on the project. Regan's company has used a dated three bedroom ranch, for example, for magazines like Elle and Vogue. A 100-acre horse farm was the perfect fit for Brooks Brothers and Ralph Lauren ad campaigns.

"Pretty much anything can work at one time or another," she says. All you have to do is list your property with an agency like hers and plan on having a crew there for as little as a half day if your space is chosen.

How much do they pay? "It ranges from an on-page credit to ten thousand plus per day," Regan says. The average pay for filming a commercial is a few thousand.

4. Be A Host With The Most
Who wouldn't want to get paid to party? Maegan Garvey-Walter does it. The New York school teacher hosts Pampered Chef parties (along with cooking demonstrations) out of her home four times a month, bringing in about $200 per party.

In addition to what she makes selling products, she gets 1 percent of the sales from an "active recruit," she says. "The more people you have working under you, the higher the percentage of their sales you get. Plus, then you get monthly bonuses."

Once you've got a starter kit (Garvey-Walter paid $150 for hers, but says you can get one for $80 now), it's all about sending out invites, talking it up, following up with guests and getting some outside order beforehand. "In order for the business to truly be a success, you need to work for it," Garvey-Walter says.

But what's better than working from home.

Check out these other great stories from ShelterPop:
Storing Wine: Solutions for Every Budget
Security Tips: Keep your Home Safe
Marianne Williamson's Course in Weight Loss -- for Your Home

 

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