Can’t Go Big? Think Small! – Get a 48% ROI From The Property You Already Own

If you’ve been looking for an easy way to generate extra income without investing in a new property, you might be surprised by the opportunities within your own home. By converting unused spaces or adding new features, you can start earning $250 to $500 per week or more, with minimal investment. Whether it’s a spare room, basement, or even some yard space, here’s how you can unlock the potential of your property and increase your cash flow.

If you have an unused room in your home—whether it’s downstairs, in the basement, or even an attic—you can easily convert it into a rental unit. Here are some key ideas to get started:

• Separate entrance: Adding a private entrance can significantly increase the appeal of the space to tenants, giving them more independence and privacy.
• Add a bathroom: A private bathroom will allow you to command higher rent. Tenants are willing to pay a premium for an ensuite or dedicated bathroom, which can push your earnings to the top end of the $250-$500 weekly range.
• Install a kitchenette: A simple kitchenette with a sink, microwave, mini-fridge, and cooktop can turn a basic room into a fully functional studio, allowing you to charge even more.

By making your space self-contained and comfortable, you can attract renters from various backgrounds—whether students, professionals, or short-term tenants—and generate consistent income from your property.

If you have a larger unused space, such as a basement or garage, you can convert it into a full rental unit to earn even more. Here’s what to consider:

• Maximize the layout: A basement or garage conversion could include a bedroom, living area, bathroom, and kitchenette. A fully self-contained space like this can bring in $350-$500 per week, depending on your location.
• Check local regulations: Before starting a conversion, check your local zoning laws and council regulations. You may need permits for adding new bathrooms or kitchens, so it’s important to ensure everything is compliant.

A well-designed basement or garage conversion can be especially appealing to long-term tenants, providing you with reliable income while increasing the value of your property.

If you have unused yard space, you might consider installing a removable dwelling (also known as a tiny home or prefab unit). These structures are increasingly popular in New Zealand, providing an affordable, flexible way to create additional living space. Here’s how it can work:

• Investment range: Installing a removable dwelling can cost anywhere between $30,000 to $100,000, depending on the size and features.
• Rental potential: Once set up, these units can earn $400 to $700 per week, depending on your location and the amenities included. In high-demand areas or regions with housing shortages, this kind of income can make a huge difference.
• Boost future property value: Not only will this bring in rental income, but adding a removable dwelling to your property can also enhance its overall value. When it comes time to sell or refinance, the additional unit may increase the property’s appeal and market price, potentially helping you secure your next investment.

This option is ideal if you want to generate extra income while also adding long-term value to your home. It’s a flexible solution, as these dwellings can often be moved if you decide to make changes in the future.

If you’re not interested in long-term tenants, renting out your converted space on a short-term basis—through platforms like Airbnb—can offer flexibility while potentially generating higher returns.

• Earn more per night: Depending on your location, a converted downstairs room or separate unit could rent for $80-$150 per night. Even if you’re only hosting guests occasionally, the income can quickly add up, especially during peak tourist seasons.
• Use the space on your terms: With short-term rentals, you have control over when the space is available, allowing you to generate income during periods when you don’t need the extra room.

This option works particularly well if your home is located in a tourist-friendly area or near major events, offering more flexibility than a long-term lease.

Another straightforward way to create income from your home is by renting out a spare room to a boarder or flatmate. This is especially appealing if you’re not ready for extensive renovations but still want to bring in extra cash.

• Comfortable shared living: A well-furnished room with access to shared amenities like the bathroom and kitchen can still generate $250-$300 per week. If your property is located near universities or business districts, you can easily find tenants who are willing to pay for the convenience.
• Target students or professionals: Students, young professionals, or even travelers looking for short-term accommodation often seek rooms in shared houses, making it easy to fill vacancies with minimal effort.

This option requires less upfront investment and can help cover your household costs while maintaining the flexibility of shared living.

By turning unused space into a rentable area, you’re not just creating an extra income stream—you’re also increasing the overall value of your property. Whether it’s a room conversion, a basement upgrade, or a removable dwelling, these improvements can boost your property’s market value and make it more appealing to future buyers or investors.

When you’re ready to purchase your next investment property, this increased equity can give you a stronger financial position, making it easier to leverage your home for further growth.

By investing in room conversions, basement upgrades, or even removable dwellings, you can start generating anywhere from $250 to $700 per week from your existing property. While these amounts may seem modest at first, over the course of a year, you could earn an additional $13,000 to $36,000, creating a meaningful boost to your income.

If you’re ready to explore the possibilities of turning your home into an income-generating asset, get in touch with us for personalized advice and guidance. Whether you’re considering a small room upgrade or a larger project like a removable dwelling, we’re here to help you maximize your property’s potential.