Here’s What You Can do With Your Extra Property in Greenville

Homes cost money in so many ways — mortgage payments, property taxes, utilities, and repairs are just some of your expenses. There’s a lot of hope that buying a Greenville property and selling it for profit will pay off in the end.

If you don’t know what to do with your extra property in Greenville, we’ve listed down several suggestions that can help you generate income. 

Option 1: Turn it into a Vacation Rental Site

Chances are, you’ve heard of vacation rental services like Airbnb. Maybe you’ve stayed in one yourself. According to another vacation rental service, Turnkey, for every $100,000 you spend for a vacation home, you should expect a yearly rental income of $10,000 to $12,000.

Although this is a great way to make extra money, it’s not a decision to be made lightly — weigh the pros and cons carefully. Make sure you’re comfortable inviting strangers onto your Greenville home while you’re away. You also need to think about insurance, renovations, and taxes.

Option 2: Rent Out Your Greenville Property

A vacation rental not for you? If you live somewhere desirable, you may be able to rent out some or all of your extra property. A Greenville property near a college or university, a hospital, a big employer or even living in a city with a tight rental market can make it more appealing to renters.

Making money from your rental property starts with deciding what part of your home you’re going to rent. A room with its own bathroom will rent for more than one with shared facilities. Find out how much your place might rent for. Spruce it up if you need to.

Option 3: Rent Out Storage Space

What if you don’t want to be a host or a landlord, but you still have some space you’d like to turn into a steady source of income? You might be able to rent out your extra Greenville property monthly as storage if the size and characteristics are right.

Many people have vehicles like boats, RVs, and motorbikes that they want to keep protected from winter weather, but they don’t have space to keep them. Some people are looking for year-round storage. Renting out your garage, shed, or barn to someone else can bring in some extra cash. 

Do you have space to build or convert? There’s a huge demand for storage units. Make sure you take good photos of your space for advertising, and note any special features (like heated space) that will make it stand out.

Option 4: Start a Business in Your Extra Greenville Property

All those ideas for making money from home are home-based businesses, but they’re not the only ones. Whether you work from home or use your Greenville property as your business base, running a home-based small business (rather than a non-home-based one) has advantages. 

Having your business in your home, for example, keeps your overhead down, gives you tax breaks, and if you can work from home, can give you a chance to stay at home with your kids.

Option 5: Sell Your Home to a Cash Buyer

Google, “How do I sell my house fast in Greenville?”, and you’ll find several buyers who are willing to buy your property for cash. Once you find the right buyer, they’ll make a fair cash offer based on the information on your home. Then, they’ll close on your chosen schedule.

The best part of selling your home to a cash home buyer is that you get paid cash up-front. You don’t need to wait for your buyer’s lender to approve the loan. Also, renovating or repairing your Greenville home isn’t necessary because cash home buyers purchase the property as-is. 

Get a Fair Cash Offer on Your Home Today

Whether you’re facing foreclosure or don’t know what to do with your home, Sell My House Fast – GSAP can help. We buy houses in Greenville in a price that works for you and close on your chosen schedule.

Let’s help you take control of your situation, end the hassles, and get back to living the life you want. You deserve to know all your options. Just fill out our form or give us a call at (864) 428-9197, and our experts will help you sort through all this confusion, and we’ll present you with options that can help you get back on track.

Need to sell your South Carolina House Fast For Cash?

Enter your information below to received your fast cash offer!

Recent Blog Post

6 Reasons to Sell Your House As-Is in Spartanburg

6 Reasons to Sell Your House As-Is in Spartanburg

If you're selling your home in Spartanburg, you may not need to go through the traditional real estate listing process. Pursuing alternative ways to sell your home can be even more enticing if you’re a senior or need the money instantly. Some people would rather not...

5 Things You Should Know About Greenville FSBO Property Listings

5 Things You Should Know About Greenville FSBO Property Listings

Before you try to go the FSBO (for sale by owner) route for your home listing in Greenville, consider that this process is much harder than it initially seems. Nearly 90 percent of sellers who try to sell their homes without a realtor fail. With such an important...

5 Tips for Selling Your Multi-Family Property in Anderson

5 Tips for Selling Your Multi-Family Property in Anderson

Before you try and sell your multi-family property, be aware that sellers have to follow all the real estate rules and regulations set by the Anderson government and state law. These rules differ greatly from a single family home or commercial real estate properties....

How to deal with looming credit card debt in Pickens

How to deal with looming credit card debt in Pickens

Credit card debt is a very real and serious problem and can snowball out of control if left unattended. No matter your level of income, those large balances on your card can lead to something you can’t pay off especially if you are charged at high interest rates. If...

Can I sell my home with judgments in Anderson?

Can I sell my home with judgments in Anderson?

A lot of work goes into selling a house in Anderson. From all the paperwork and legal checking to general maintenance of the property, potential sellers are in it for the long haul. Even with the help of a professional real estate agent, you may still find yourself...