So you own a garage, but no car. Having a garage is one of the commonly owned, but frequently under-used assets. Used more often or not than a dumping ground for odds and ends, a garage is potentially a hugely untapped resource. We’re going to give you the low-down on how to turn that dingy store room, into a fabulous extension of your home, or potentially a lucrative, money-making venture:
If you live in a popular commuter destination, or better still, close to a major airport or train station, there might well be a pretty penny to be made. If you rent, as opposed to own your house, this might not be possible, as it could be classed as subletting. If in doubt, check with your landlord. The other consideration is insurance. Make sure this doesn’t void your own home insurance, and you may need to look at getting insurances to cover the letting side. We’ve found this great article that gives you some more details.
Pop-up event spaces are a fabulous way for small businesses to trade, from pop-up cafes to pop-up boutique clothing shops. If your house is in a desirable location, there’s a great chance that people will be queuing up to make use of your space for their event.
A garage sale kills two birds with one stone. Not only will it help you on your quest to de-clutter, but will also helping you bring in the pounds. Maybe even go one step further and hold art exhibitions or craft sales. If you really have a lot of space to make use of, you’ll be able to sell bits of space to local artists.
Maybe you can create killer looks with make up, maybe your the king of crochet. Start running classes or tutorials from your garage space, creating a new extension point to your house, but again helping you to make a pretty penny in the process
Using your garage as an extension point to your house is a fantastic way to maximise your space. Perhaps your in desperate need of a place to work out, or maybe you need an office space. Done well, this can also add value to your house value. One of our favourite uses for this space is to convert your garage into a home theatre, perfect for recreating movie-night but without the ticket prices.
Handily titled, ‘Airbnb for Boxes’ the chance to leave some belongings at another person’s garage is very useful, especially in crowded cities. You can easily setup to be a ‘space lender’ to donate some of your garage to those that need the extra room. With lots of security around the arrangements, you can be sure that this is a safe way of using your garage.
Whatever way you like the sound of, we’d recommend you check how any of these uses fit in with your home insurance, and up it if necessary. You might also want to review your security. With a higher footfall of people passing by your home, ensure that you have taken the necessary precautions.
