5 Simple Techniques to Make Money from Your Unused Garage

Garages and carports became popular in the 1960s and 1970s as owners took more pride in their vehicles and wanted something to protect them.

It could be argued that before this the vehicles were so over-engineered and well-looked after that a garage was an unnecessary expense.

But, whatever the reason, garages became a fixture. Of course, today most garages are used for storage and not for vehicles.

Considering a garage increases the value of a property it is a waste having a garage sat there being used for storage.

It is time to clear it out and use the space for something that will make you money.

1. Storage

It may seem strange, but, you have cleared your garage out which means it is now free to be used for storage.

The difference is that you won’t be using it for storage. Instead, you can rent the space out to someone else.

There are plenty of people looking for places to store items. They could be for sentimental things or because they are starting a business and don’t have the space to store items.

Whatever the reason it can make you money every month, just be sure to have a proper contract drawn up before you start.

This will ensure everyone knows what they can and can’t do.

2. Parking

If you are not using the space then you may be surprised to learn there are plenty of people that would.

The closer you are to the city center the truer this becomes. The simple fact is that car parking is generally expensive in any city.

Unfortunately, many employees need to park and end up paying hundreds of dollars a week in parking fees.

This is because the privately-owned car parks charge high rates and have little competition.

You may not be able to do anything about the rates but, you can offer your garage and even a driveway space if you want to.

The easiest approach is to click here and sign up with a service dedicated to connecting drivers and people with spaces.

They will pay you to use your space, saving themselves money and ensuring you make some for nothing.

Naturally, you should have a contract drawn up before you rent the space, this ensures there are no issues if you need the space or things aren’t working out.

3. Convert The Garage

This is a more expensive option but, for many people, it is worth considering. The idea is to convert your garage into a bedroom.

Alternatively, if you have a large enough garage you can convert it into a miniature apartment complete with a toilet and kitchen.

Regardless of how much space you have and what you intend to put inside it, you will need to speak to your local authority.

It is almost certain that you will need permission as you are changing the use of the garage.

As well as needing planning permission to change the garage you will need to check if it affects your rates, the additional costs will need to be factored into the rent.

That is what you are aiming for, finding a tenant who will be happy to live in the space and pay you rent.

This will pay back the money you spent on converting the garage and eventually make you a profit.

Again, you will need a contract and you will have to discuss what contributions the tenant will make toward bills.

Don’t forget that adopting this approach means that the value of your home is likely to increase. Although a garage adds value, an extra bedroom or a granny annex adds more.

4. Create A Workshop

If you love making certain things but struggle to have enough space to create then you may want to consider turning the garage into a workshop.

Again, you may need to check with planning permission regarding a change of use.

This will depend on how permanent it is and what sort of equipment you will be adding.

For example, if you love doing up old cars and selling them then the garage will still be used as car storage and you won’t need to change the use.

But, if you are thinking of turning it into a jewelry factory or something similar you may need to change the use.

The aim is to create things that you enjoy making and then sell them. It may take time to turn a hobby like this into a business but the rewards will ultimately be worth it.

You will need to decide whether customers are allowed in the garage or if this is a ma-order concern. It will make a difference to your insurance costs.

5. The Local Bar

the local bar

This idea is a little more difficult but not impossible to achieve.

If you and your neighbors enjoy a drink but often bemoan the fact there is no bar in the area then you can convert your garage into a bar and serve people drinks.

This idea will need the most planning as you will need planning permission for change of use, a bartender’s license, insurance, and several other things.

But, it can be a good way to make some money from your garage while chatting to friends and strangers.

Of course, if you decide to convert your garage into a bar you need to be certain that you can’t hear the customers from inside the house and that you are happy running the bar every night.

Providing this is the case the bar can be a lucrative use of your garage.

Final Thoughts

Using your garage for something more productive makes sense. Potentially the easiest and best earner is else likely to be renting the parking space to someone who needs it.

But, the decision rests with you because it is your garage and there are plenty of opportunities to do something fun with the space you have available.

It is worth taking a few moments to consider the options before making a final decision and making money from your garage.

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