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Your home is one of your greatest assets. But as the cost of living continues to rise, you might be wondering how to leverage your home to help you generate additional income.

The excellent news is that there are numerous ways to make money with your home. Some of these methods are also completely passive, whereas others leverage parts of your property to create new income opportunities.

How To Make Money With Your Home

1. Rent Out A Spare Room

One of the simplest ways to earn money with your home is to rent out an extra room to help cover your mortgage costs.

Getting a roommate is one way to get started. Alternatively, some homeowners go the Airbnb or VRBO route and get involved in the gig economy. In both cases, having a section of your home rented out each month can provide serious cash flow.

Take Airbnb for example. According to its 2021 data, the average US Airbnb host saw $13,800 in income. That’s an average of $1,150 per month!

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