1. Rent Out Space in Your Home
Thanks to the new sharing economy, it’s easier than ever to make money from the unused space in your home. You can rent rooms or your entire house to students or vacationers through sites like Airbnb or opt for long-term tenants while you live somewhere less expensive.
Sharing your space with strangers might sound uncomfortable, but you’ll never know until you try it. Plus, hosting students and Airbnb guests can be a relatively short-term commitment. You don’t have to keep doing it if you decide it’s not worth the savings you’d get from paying off your mortgage early.
