Have some unused space in your backyard or adjacent property that’s just sitting there doing nothing for you?
There are several ways to make a buck off of unused property. Whether it be from a cash-generating hobby or simply letting your property make money passively, you can bring in thousands of dollars extra per year just by adopting more of a capitalist attitude toward the use of your property.
Here are 3 great ways to make money from your backyard dwelling:
1. Organic Herbs and Vegetable Farming
Depending on what state you live in, you may be able to grow certain “herbs” that other geographically challenged folks cannot. However, there’s a lot of red tape to deal with when it comes to that kind of green plant. The great thing about organic herbs is you can do multiple harvests per year/season (depending where you live), and can grow a lot of money-fetching plants in a very small area, including a simple backyard greenhouse.
There are a multitude of herbs and veggies to choose from, and it isn’t too hard to find a market for them, especially if you choose to grow everything 100 percent organic. If you choose to go the veg or garden fruit route, make sure to take the area available, total growing time, and perish-ability of the finished produce into account with the potential profit before proceeding.
Here’s a few organic herbs worth mentioning to get your mind spinning:
- Herbs of all kinds: Analyse which are most popular for use in local restaurants and those that are most prominently displayed in local health food and produce stores. I could rifle off a list for you, but there’s plenty of information like this article online.
- Garlic: Garlic is mega popular and can fetch an amazing price when it’s fresh and organically sourced. I’d personally try to advertise for free on Craigslist if you’re not keen on approaching local vendors.
- Catnip: This isn’t just a favourite member of the mint family that’s loved by every single feline on the planet, the dried leaves are also a popular calming tea used by millions worldwide. Five dollars gets you up to a thousand seeds and each mature plant nets $50 or more in profit after it’s sold.
2. Bees Please!
Don’t be afraid of using this idea — bees are and will always be big money. While they might bite at times, there’s tons of information out there for how to do this safely. The most important thing is to search for and join a local beekeeping club in your area. These groups can help hook you up with a couple of “gentle” bee swarms to get you started, along with being a continuous resource whenever you have questions.
You can fetch up to $15 a pound for natural non-pasteurised honey and it isn’t unheard of to get up to 100 pounds of honey out of a couple of modest hives per year. Make sure to check the local regulations for maintaining a backyard beehive. You’ll also want to ensure there are lots of flowering plants nearby your home, as they require flower pollen to thrive and produce honey.
3. Sell Storage Space
The money you can make at this venture will obviously be directly proportional to how large of an available area you have to offer. Storage is a billion dollar industry. A massive backyard or adjacent property space works perfect for storing boats and RVs for people throughout the late fall and winter months.
Current RV and boat storage rates run from $20 to well over $100 a month depending on the size. Heated storage can run quadruple that if you have a barn or large garage to spare. A 10 x 20 storage shed can fetch you around $100 a month, with larger spaces bringing in much more.
The key to running a successful storage area on your property is:
- Never mess with other people’s stuff — let them provide their own lock and key.
- Get the contents insured with your property insurance company or have the customer sign a document absolving you from responsibility for their stored goods.
- Install security cameras facing the storage area.
There you have it. Three highly demand-driven ways to make money from that unused space in your backyard.
Main Image Credit: Elizabeth Haslam/Flickr