Most people dream of buying a home, but with inflation and high mortgage rates, this dream seems to fade away for some.
According to a recent CNN poll, 86% of renters say they would like to buy a home but cannot afford to.
The poll also showed 54% of the same renters think it is unlikely they will ever be able to buy a home.
According to Zillow, a typical starter home is now worth $1 million in more than 237 cities, including 11 cities in Florida.
Excessive costs have forced homeowners to use hacks to pay down their mortgages.
Some homeowners will rent out part of their house to travelers through rental sites like Airbnb to make extra money.
Another creative way for a homeowner to make more money is by renting their pool out through an app called Swimply, which is an online marketplace for private pool rentals.
Driveway renting is another money maker using a site called CurbFlip.
More traditional ways of earning extra money are creating a home-based business, pet sitting or having a roommate.
Homeowners have an advantage with more options to earn extra money compared with a renter.
Before jumping into these extra income endeavors be sure to research insurance risks and time management.