Turn your castle into a cash cow

Fri 25/09/09

Fancy up to $5000 per day? You can turn your castle into a cash cow and watch the dollars flow in.

Here’s how:

House swap:

If you’re going on holidays, why dig deep into your pockets to pay for a hotel room? You could save money on accommodation and car hire by doing a house swap.

All you need to do is pack the kids and fly out.

For more information visit: www.aussiehouseswap.com.au or www.homelink.com.au

Make your place a star

You can attract an income if you surrender your house to television commercials, series or film production.

Michael Gaffney can make your home a star, just like Rhonda Clarke’s home became the set for Kath and Kim.

“It suits us, it suits them, they love the home, we love our home... what more can you ask for?” she asks.

For more information go to www.locationmanager.com.au or email gaff1@optusnet.com.au

Renovate and reap the rewards

Effie Zahos from Money Magazine says investing in some construction work can send the value rocketing.

“Dropping in $5,000 to tart up your place could actually get you around $25,000 return,” she says.

But she also says doing your homework can save you a bomb in the long term.

“It's really important that you've got the right home loan because a difference of 0.7 percent on an average mortgage can mean an extra $30 odd thousand that you're paying. So that's where you're going to make the savings,” she says.

Rent your space

One in every four homes has a spare room, an unused shed, an empty storage cage or room for a car. You can take advantage of that, and help someone who needs it.

Spaceout can help you convert your spare space into cash. Visit their website: www.spaceout.com.au/

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