Easy ways to make money with your basement

If you are not using your basement for frequent family activities, you may want to turn it into an income source. Here are some simple ideas.

With a minimal investment of time, effort, and cost, you can renovate your basement for use as a profitable income stream based on your skills, experience, and interests. Here are some basic tips to help you get started.

Get your basement ready to earn money

Your first step to generating income from your basement is to get it in top shape. Unless it has been recently renovated, there are probably several things you should consider doing to ensure a safe, clean, and well-lit workspace.

Trethowans
Trethowans

Waterproof your basement

A basement that has not been waterproofed ever or in recent years may need a fresh coat of sealant to keep out moisture. You might want to do this yourself or hire experts to handle the job for you. Of course, any fissures or cracks in the foundation should be fixed first.

Also, look for signs of leaks, drips or seepage from sources like the water lines, sloping outdoor foundation, and window cracks. When everything is repaired and the waterproofing material applied, your basement should remain dry and free of mold.

Insulate your basement

Make sure your HVAC system is working efficiently to keep the area warm and cozy. Add extra insulation if needed to avoid high heating costs. You may want to add vents to areas or rooms in the basement that lack them to help promote air circulation.

Windows and doors leading outside should be insulated with weather stripping to further insulate the below-ground-level rooms.

Install a dehumidifier

Many or most basements benefit when a dehumidifier is able to run periodically. An effective unit strategically placed or moved periodically can help to remove humidity from the air when the windows are open or on extremely hot, muggy summer days.

Check out Leslie Philips’ page for a number of factors to keep in mind when buying the best dehumidifier for your home.

Repaint your basement

A fresh coat of paint can do wonders to brighten the basement walls and bring the area to life. Use neutral tones to brighten the area and blend with colorful decorative accents. Alternately, paint one or more walls in vivid hues to stoke energy and creativity.

Fix the flooring

You may want to paint the floor and add area rugs with patterns that add to the decorative palette. Or you might prefer laying durable carpet for style and comfort as well as to help muffle loud noise from music or television viewing. Pick flooring that is easy to maintain and clean.

Home business ideas for your basement

If you have been working at the dining room table or from the family room sofa, you can move your business into the basement for a more comfortable and spacious workspace.

This will also provide a distraction-free area from other household activities and, if newly decorated, offer mental stimulation and a spacious work area.

A home-based business (food and crafts)

With the proper local government inspections and licensing, you can prepare specialty foods like your grandma’s famous Old World paska bread for holidays. You can then sell it to local grocers and bakeries as well as ship it from home to online customers.

Do the same with your favorite crafts, whether you design and build adorable birdhouses or festive aprons for culinary fans. Organize your space into areas for cooking or construction, packing, and preparing for shipment.

A work-from-home office

If you are working from home already, moving into your basement office will facilitate your workspace for greater convenience, added storage, and fewer intrusions. You can also meet clients in the basement office, especially if you have a walkout basement with a separate entrance.

E-commerce and drop-shipping business office

Set up your website and offer business services and drop-shipping for small companies. Keep your work area open and well-lit to make the work easier to handle. Label each section of the work area with clear signage to keep orders separate and well organized.

Rent out accommodation

Again, preferably with a separate walk-out entrance, you can rent out your basement as an efficiency apartment to a student, a retiree, or someone who needs limited living area. Clarify the rules of usage for bathrooms, the kitchen, and other places in the home.

Tutoring service

With a computer and videoconferencing service, start up a tutoring business in your areas of skill or expertise. Make sure the camera and microphone are working correctly. Attract customers from a website that explains your credentials, subjects to be tutored, and fees.

With a bit of effort and marketing, your updated basement could soon recover your renovation costs and earn profit.