How To Start Making Money With A Guesthouse

Life under quarantine is a little strange, right? If you’ve been self-isolating at home for the past few weeks, you’ve likely had a lot on your mind – What can I safely do outdoors without risking exposing myself to the virus? Will we all still have jobs when this is over? What can I do today? How many snacks do I have to eat before it adds up to a whole meal? Did Carole Baskin really murder her husband and feed him to her big cats in Tiger King? 

It’s a lot to think about. 

In these trying times, only two things are certain: house projects and Netflix are the only logical means of passing the time, and this ought to be a huge awakening for how people plan to make (and save) money in the future. Airbnb owners had it right. Adding a passive income stream to your personal finances is such a smart way to put more away for emergencies like these. But not all of us have the spare cash to purchase an income property. How are so many people cashing in on this trend? 

The answer lies in the humble backyard guest house. Whether you live near a charming tourist attraction, a family-filled suburb, or adjacent to a bustling business hub, a backyard guest house can be exactly what visitors to your area are looking for. AirBnB’s on single-family properties can offer travelers a cost-effective, quaint option for staying locally while visiting family, vacationing, or traveling for business.  

Why Build a Backyard Guesthouse? 

1. To increase your resale value. These outbuildings are technically considered an accessory dwelling unit, which will increase the resale value of your home.  
2. Personal convenience. Giving guests a separate place to stay when they’re visiting your family allows you to continue life as normal, with all the comforts and privacy that you prefer. No more walking in on your father-in-law in the shower. Did you just start working from home while quarantined? That backyard guest house sure would’ve come in handy at a time like this. 
3. The long-term possibilities. Backyard guest houses can come in handy further along in life, especially as elderly relatives begin to need assistance at home. Your guest home offers all the freedom of independent living while keeping your loved ones within earshot.  
4. And of course, the even longer-term possibilities. When it comes time for your own retirement, you may choose to downsize, moving into your guesthouse, and leasing the main home. Talk about a comfortable nest egg.  
5. Passive income. Short term rentals, long term leases from college students or contracted employees, tourists, your cousin’s godmother’s sister’s great aunt… the possibilities are endless! 

If this next house project sounds like the perfect way to create convenience, luxury, and extra income, you’ll want to choose a building material that checks all of your boxes. Creating a backyard guest house should be cost-effective, hassle-free, and easy to DIY wherever possible. Light gauge steel is your best bet. Prefabricated metal building kits made with light gauge steel are the most cost-effective option for small projects like outbuildings, with all the same customizations that make steel fabrication so ideal. Here’s how it works.  

First, prefabricated metal buildings are designed and manufactured offsite to your exact specifications. Prefabrication saves you money by cutting down on the hours you would normally need to be paying a contractor for. The components are delivered ready to assemble with bolt-together technology. You may be able to do it yourself with minimal construction experience.  

With that time saved, you’ll be able to get your backyard business up and running faster. In fact, prefab steel is the number one choice of entrepreneurs and small business owners because of the unparalleled return on investment. Of course, it doesn’t hurt that steel buildings are also known for their long-term cost savings. We can’t help you with the termite problem in your main living quarters, but we can promise that your prefab metal guest house will be pest-resistant and durable against the elements for years to come.