Remodeling your home with the aid of a general contractor is a great way to get the most out of your property, especially if you want to increase your income. Below are two great renovations that can help you earn a bit of extra money.

Renewable Energy

Taking advantage of renewable energy is one of the easier ways to make some money from your home. You can begin producing energy on your property by installing turbines or solar panels.

The reason that these additions to your home can help you earn money is that these additions produce energy that you can sell. When you produce more energy than you use, you will begin feeding that energy back into the power grid. When that occurs, the power company will start paying you for that energy.

Now, the amount of money that you can earn with this option varies depending on your area. For example, an area that has plentiful energy will pay less than an area that is struggling to meet energy demand. 

Even if you do not produce enough wind or solar power to get rid of your power bill, this renovation is still worth considering. This is because what energy you do produce will at least lower your monthly expenses.

Rental Space

One of the most tried and true ways to earn money with your property is to rent it out. However, you do not have to rent your entire home out. 

Instead, you should consider hiring a general contractor to create a rental space. There are many areas of your home that you can remodel into a small apartment. Examples of this can include your basement, garage, attic, or additions to your home. 

When you build a rental space, you will want to make sure that you include a few key features to attract tenants. A lot of prospective tenants will want to have a private space, so creating an apartment with a separate entrance is a good idea.

Also, try to provide as many amenities for your prospective tenants as possible. This is necessary because many tenants may not be comfortable sharing space with you. Try to include a private kitchen, bathroom, and living areas when building the apartment. 

Make an appointment with a local contractor like Suburban Construction Inc to discuss possible renovations today. Renewable energy and rental spaces are both ideal ways to increase your income by using your home.