One of the best things that you can do with your home is to consider making additions to your home that will allow it to make you some extra money. This is extremely useful when you consider just how expensive mortgage payments can be and that you can use any extra money generated through the home to either offset that mortgage or pay the mortgage off much more quickly. Listed below are two home improvement projects that can make you some extra money.
Install Renewable Energy Additions
One of the best options to consider if you want to complete a home improvement project that can save or make money is to install renewable energy additions to your home. Now, in a residential area, this will typically be restricted to either installing smaller wind turbines in your yard or solar panels on your home.
The main benefit to installing renewable energy additions to your home is that you can potentially end up getting rid of your power bill entirely because you will be producing all of the power that you need. If you want to increase the savings even more, consider changing some of your gas-powered appliances, such as your water heater or your stove, to electric-powered ones that can basically be run off of your renewable energy sources. In some areas of the country, you can actually end up making money with those renewable energy sources because you will be able to sell any extra power that you produce back to the local power company.
Build A Rentable Space
Another great way to make some extra money off of your home is to build a rentable space somewhere on your property. Some of the best areas to build an apartment that you can rent out to individuals include your basement or garage. In most cases, you will have better luck renting out an apartment on your property if you consider building the accessory apartment in a way that allows it to have its own entrance, mostly because any prospective renters that you might get will appreciate the extra privacy.
Speak with a home contractor in your area today in order to discuss what home improvement projects he or she would recommend if you are looking to find a way to make some extra money via your home. Installing renewable energy additions to your home and building a rentable space within your home are both home improvement projects that can make you some extra money.