In recent years, homesteading has become an extremely popular topic in the news and on social media.
Of course, there are many benefits to running a homestead. However, the practice also comes with its fair share of work as well. In fact, most homesteaders work hard doing several different tasks or jobs in order to create income for their property.
Sometimes, this means working a full-time job, as well as having a side gig to help supplement the cash flow. This extra cash can be earned by doing anything that generates income.
For some, this is achieved by designing and creating handmade clothing or food products, while other homesteaders turn to raising livestock or selling the produce they’ve grown on their properties.
No matter how you look at it, there are plenty of ways to generate additional income from your homestead.
But, this might leave you wondering what other ways there are to add additional income to your homestead. In the following article, we’re going to look at 6 ways to add more income to your homestead. Let’s begin.
Rent Additional Living Space
One of the best ways to add passive income to your homestead is to simply rent out any additional space that you may have in your home. Of course, not every homesteader lives in a house that’s large enough to rent out extra rooms. But, for those who have the extra space, renting is an excellent way to make more money.
Of course, this doesn’t mean that you need to have a completely separate space to rent. You could simply rent a room to tourists visiting the area for the weekends.
If you’re feeling really ambitious, you might even turn your additional space into a full-service bed and breakfast. The more effort you put into making your space marketable and rentable, the more income it will be able to create for you.
Using Airbnb is an excellent way to advertise and get your space rented out.
Airbnb is a website where people can search for accommodations at much lower rates than getting a hotel room. Anyone who owns a home can use the site to rent out their space.
The best part about this is that you can adjust your rates according to how busy you are.
For example, since there are less people who travel during the winter months, you might want to lower your rates to entice people to book with you. However, when things get busier during the summertime, you can charge more since there are usually many more people looking for accommodation during that time of year.
Build a Rental Unit
If you have the space for it, you could even think about converting your basement or garage into a completely separate rental unit to earn income for longer periods of time. This may cost quite a bit up front; however, the work will pay for itself once you start renting the unit to a tenant and earning cold hard cash.
Tiny houses are very trendy right now. So, if you have the space, and the capital, you could even think about building a small guest house on your property, which can be used to bring in an income for as long as the building is still standing.
Rent Your Land
And, it doesn’t stop there. If you have a large property, you could even think about renting out a parcel of land for people to camp on in the summertime. Or, you could advertise your property as space to rent for storage.
There are plenty of people who own boats, motorhomes, and other large assets, but just don’t have anywhere to store them. Therefore, using your additional property space could make an excellent storage yard, and you’ll be able to earn some extra cash at the same time.
Make Clothing and Craftworks
Another important aspect of homesteading is being able to
make your own clothing, as well as anything else that you use in your day-to-day life. These are extremely valuable skills to learn on their own; however, they are also excellent ways to add an additional income to your homestead.
Whether it’s just a hobby or not, selling handmade clothing is an excellent way to add additional income. You could sell your wares at yard sales or craft shows.
Or, if you’re able to produce enough of an inventory, you could even think about opening a handmade store and turning your hobby into a full-blown business.
Chickens and Livestock
Raising chickens or other types of livestock are another great way to earn extra cash.
Of course, not everyone has the property or the space to build a chicken coop or house a for a whole herd of goats. But if you do, just imagine the extra income you could create by selling eggs or other farm-raised animal products.
Even if you don’t sell the eggs for an income, you’ll be able to eat healthy, fresh eggs every morning and save money on having to buy them. And, who wouldn’t want that?
It’s also important to note that many cities have bylaws that forbid raising chickens within the city’s limits. So, before you go out and start building your chicken coop, make sure to check in with the city to make sure that you won’t be breaking any laws.
Larger animals like horses and cows can also present great ways to earn more money. However, these animals require extremely large properties and need the appropriate types of livestock care. So, if you’re an urban homesteader, living in the middle of a big city, large animals like these are completely out of the question. However, if you don’t live in a city, this could be a great option for you.
Adding Income to Your Homestead
Homesteading can be an extremely rewarding lifestyle to live. The flexibility of being able to earn a living by doing different jobs, as well as the ability to live a completely self-sufficient lifestyle is totally worth it, knowing that you don’t have to rely on anyone else just to get by.
And, remember, these 6 tips are only the tip of the iceberg.
When it comes to homesteading, there are countless ways to earn additional income. But, while you’re learning the ropes, these 6 pointers should get you started on bringing in a bit more income for your homestead.