Empty Nesters – What to Do with the Extra Space?

So, the kids have moved out and you’re ready to turn that empty space into something new. Maybe you’ve been envisioning an exercise room, a meditation cave, a craft workshop or even a reading library. There are so many fun and exciting possibilities! Or, maybe you’ve been considering whether you can turn that extra space into some extra cash, which in today’s world, is perfect since there are plenty of sharing apps and websites to use that can transform just about any space into something profitable. In this guide, we’re going to talk about some of the ways that you can make money off of your empty nest. Let’s take a look!

One family’s space is another’s storage

You might have heard of companies like Spacer, which provides a platform for people to share any extra room, garage or storage unit that they’re not using. If you have an empty room in your house, then it’s an awesome idea to open it up for others who have no place to store their items.

You’ll earn money without having to do anything special other than clear the space for a few storage boxes. It’s a great way to earn passive money off a space that you’re not using. And, since your child has moved out, you might also find yourself with an extra parking space on your property. Spacer and Parkhound are two options for you to list that space and make some extra cash!

Set up a room for (paying) guests

Airbnb became a worldwide sensation in just a couple of years. These days, people often check Airbnb before they consider paying for a hotel. That’s great for you, because you can make money while meeting interesting people from all over the world. This option will require a bit of extra effort considering that you’ll have to get a room ready for a guest, be available to them in preparation for and during their stay, keep updated on the website, and clean in between bookings. That being said, hosting on Airbnb is a popular way to earn extra money, and it can be very rewarding. If you’re the kind of person who likes being a host, this is a great option.

Have a dedicated space for pet sitting

Empty nests are just begging to be filled with the love and enthusiasm of a pet, and if you adore animals, you can actually be paid for taking care of someone else’s furry friend. Mad Paws is the leading pet sitting website in the country and getting involved is fun and easy.

To get started, you’ll make a profile with pictures of you and some testimonials from your friends. You can mention in your profile that you have a space dedicated solely to doggie or kittie sitting so that owners know how well their pet will be taken care of at your house. Then, pet owners will reach out to you so that you can set up a time to meet. During the pet’s stay with you, you’ll have access to a support team at Mad Paws so that you never feel overwhelmed.

Some extra tips on converting your space

• Consider the time and money you may have to invest before you make money. Maybe the room is already set up for whatever you want to use the room for, but if not, make sure you’re ready to take on the renovation. After all, you don’t want adorable pups knocking down your child’s trophies, and you will probably want to at least change the sheets for any Airbnb guests you’ll be having. If you’re opening up a space for Parkhound or Spacer, you’ll want to make sure it’s free of clutter and safe from weather damage.

• Choose a venture that works best for your lifestyle. It can appear easy to just dive right into the next thing as soon as the kids leave, but take a minute to pause and consider what’s best for you in their absence. You might decide that you enjoy the silence. Or not. Either way, you’ll quickly figure out what setup you need.

• Find a balance if you’re not entirely ready. What’s really great about all of these options is that you have the power over your space. You can schedule when a renter can come and access their stored items. You can decide how many guests, furry or otherwise, you want to accept per month.

In this guide, we talked about all the ways that you can make money with that brand new empty space. So, whether you decide to join one of the companies we mentioned here or keep the space free for that dance studio you’ve always wanted, now you know just how many options are available to you!