12 ways your home can be a cash cow

Create a home studio

DeWitt Young was helping a friend move when he dropped a TV down a flight of stairs.

Inside the smashed set, Young found his calling: making tiny "capacitor people" figurines, charms and jewelry from the brightly colored electronics that would otherwise wind up in landfills.

Today, Young sells his artwork in galleries, as well as online through his Web site and the arts-and-crafts portal Etsy.

What is the best part of a home studio?

"Being able to multitask," Young says. "I can build, take a quick laundry break, pack up an order, then go pick the kids up from school."

The downside of a home studio is that it takes time to amass a following.

"The market is very competitive," Young says. "Internet customers will know if you're overpriced, but it's important not to underprice your product. It looks sad, and you won't make any money." Not the artistic type? Rent out your available space to art students, photographers, crafters, scrapbook enthusiasts, musicians or other creative sorts who don't have sufficient room to express themselves in their dorms or apartments.

Throw party sales

Some homes are natural gathering places. Turn yours into a selling place by hosting a party sale.

Products such as Avon cosmetics and Tupperware started the craze. But today, anything goes: lingerie, essential oils, bath and body products, children's apparel, etc.

And you don't have to be the salesperson. Independent sellers may be willing to part with a share of their profits to use your home instead of theirs.

Share your garage

If you have a garage you never use -- or just an extra spot in a two- or three-car garage -- consider renting out that unused space.

A weekend mechanic who lives in an apartment may pay for the chance to work on his or her ride in your garage. Other people may be looking to store a motorcycle, boat, trailer or recreational vehicle.

Still others may prefer the location or convenience of your garage to the local self-storage options, especially if the price is right. If your home is out in the country, you might even discover the next U2 by renting your garage to a local rock band.

Go to the dogs (and cats)

Are you wild about animals?

"Consider opening your house as a boarding place for dogs and cats," Brabec says. "Think of all the widows who are tied to their home because they can't get anyone to take care of their pets."

Many pet owners would prefer to board their animals in a private home rather than in a commercial kennel. If you have the space and inclination, call a few local boarding facilities to get an idea of pricing.

Not ready for extended pet stays? Open a grooming, bathing or pet-food-distributing business in your home.

"My favorite would probably have to be an animal massage therapist," Jones says. "It's rough work being a dog or cat, isn't it?"

Grow your own money

If you've got a green thumb and a bit of tillable land, consider growing a cash crop.

Commodities such as wheat and cattle are well beyond the scope of most backyards, but berries, flower bulbs, vegetables, grapes, florist products and landscape plants can be cultivated and sold to wholesalers, at farmers markets or on your front porch. In the Northeast, you can even tap your maple trees and sell the sap to a sugaring operation.

If you didn't get the green-thumb gene, take a slightly different approach.

For example, enterprising Princeton University classmates Tom Szaky and Jon Beyer started their own worm gin, which produces a potent organic fertilizer from worm waste.

Their company, TerraCycle, now sells its products to Home Depot and Wal-Mart. Although Szaky and Beyer started their worm gin in the basement of an office building, you could start a similar venture from the comfort of your home.

Continued: Order fulfillment

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