Most people have the basement that everyone dreads. It is dark and dreary and everyone just stays out of it and pretends that it does not exist. However what you may not know is that your basement is a money making machine. This article will help explain to you how your basement will make money for you and you will then know how to cash in on the investment you are making. This does not mean that you have to completely renovate it and put all of your money into the real estate portion of it. There are many things you can do that will put immediate cash into your pocket.
Clean Out The Junk
Most basements are all the same. They become a great place for people to throw things into storage and forget about them. Many basements play host to many moneymaking items and you do not even know it. If you are in need of some quick cash you can head to your basement and start figuring out how much money you can earn. For example many basements have several used televisions in them. This happens when people purchase the newer and better televisions. The only place for the old ones to go is the basement. You can often earn fifty dollars or more per television. Another popular set of items that often get put in the basement are those of baby items and toys. These items are still probably in great condition and can be sold for a premium because there are many people shopping for baby necessities but do not have the money to pay full price for something brand new. You will be surprised what kind of treasures you can find in the basement that will earn you money.
Of course if you are going to be selling your home some time soon or you just want to add value and equity to your home you might be interested in learning more about renovating to put dollars into your pocket. If your basement is unfinished you could turn it into a livable space without costing too much out of pocket and increasing the value of your home greatly. If your basement is already finished it might just need a good facelift to increase the dollar value of it. This could be something easy such as a fresh coat of paint or new flooring or carpeting.
Adding A Kitchenette
Basement renovations should be well thought out in order to get the money value out of them that you wish to. In such cases you might want to rethink how the space is being used. If you like to entertain and you have the space to do it you might want to think of adding a kitchenette to the basement. Once you have this kitchen in place you will find that the possibilities of the basement are endless and the dollar value will be increased dramatically.
Rent The Space
If you are looking to make extra money and help with your mortgage payment every month you might want to consider finishing your basement to resemble an apartment. Once this has been completed you can rent it out to make that extra money. You will need a living space, a bedroom, kitchen and of course a bathroom. This might cost you a small fortune to complete but once it is finished you will find that the money will come right into your pocket and possibly save you money every month on your mortgage.
The one room in the house that has the possibility of making you money is your basement. It does not matter if the basement is finished or not you will find that it can make you money either way. Sometimes you just need to be creative.
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