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4 ideas to use your home to help pay your mortgage loan

home loan

Acquiring a property is not something that comes out cheap, but it is one of the dreams that many Colombians have. When you buy a house, you also acquire a responsibility that will last until you finish paying the total amount that was lent.

Remember that the faster you finish paying your credit

credit loan

The more you save because you will pay less interest and get rid of your debt in less time than thought. To make this happen, here are some ideas to generate extra income using your property:

1. Lease a room: 

1. Lease a room: 

If you have a room left over, you can adapt it to work as a bedroom and rent it. There are always students in search of where to live, especially if they live near universities or institutes. Set the conditions you want, for example, only girls, no pets, age limits, etc.

2. Lease spaces to travelers: 

2. Lease spaces to travelers: 

But if you don’t like the idea of ​​renting something in a fixed way, you can choose to receive travelers. Tourists come and go, and many of them do not look for a hotel but a cheaper alternative. You could even have more profits if you offer breakfast. On the internet you can find several places where you can register your home as a friendly place for travelers, especially if you are in a central area.

3. Lease offices: 

If you have a large space available and you are in a commercial area, you could adapt your home to lease offices. Every day many companies are born and there is always an occasional entrepreneur who is looking for an office. The main thing to offer is Wi-Fi connection.

4. Lease spaces for events: 

On the other hand, if what you have available is a large garden, you might consider renting it for receptions or some other type of events. If the space is smaller, you can adapt it for seminars or business meetings.

The options are many, it’s just a matter of starting to look for information to see how you can take advantage of your property. But if what you have are serious problems to cover the monthly fee, beyond looking for extra income, the ideal would be to opt for a purchase of mortgage portfolio and thus reschedule the payments you must make, in order not to fall behind. Compare the available purchase options and choose wisely.

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