Restoration involves taking broken or unused things and giving them a new lease of life. It is a way of preserving the past and reducing waste. Not only that, but it can be a source of income for many people. If you have a talent for fixing things and a passion for preservation, it could be worth considering a few of the following forms of restoration – they could be a fun and rewarding way to make some extra money.
Got a passion for home DIY? Restoring an old or damaged property could be a rewarding project and a lucrative investment opportunity. Property ‘flipping’ involves taking an old dilapidated fixer-upper and repairing it before selling it for a return. In order to be successful, you need to spend as little money buying and improving the property as possible, while adding as much value as you can. It’s worth shopping around for a hard money lender and doing as much of the improvements as you can yourself without having to hire a contractor. Make sure that you don’t take on more than you can chew – only buy properties that you can afford to fix and that you have the skills to fix.
You can also make money through land restoration. This involves taking unused land and turning it into land that can be put to productive use. Measures like soil rehabilitation can make land suitable for farming, allowing you to sell it on to farmers. Clearing land of overgrown plants and rubble can also be a profitable form of restoration, allowing you to sell it on to developers. You can even make money via rewilding.
Rare antiques can be worth a lot of money providing that they are kept in good condition. Sadly, many rare antiques end up being neglected over the years, reducing their value. Restoring these antiques can increase their value again and can be a great form of investment for this reason. Antiques could include anything from furniture to paintings. Just be wary of the fact that restoration must be carried out in a specific way – a bad restoration job could decrease the value of an antique.
Are you a petrolhead that loves to work on cars? Restoring classic cars could be a fun project and a great investment strategy. There’s a lot of money to be made from taking old rusted classic cars and making them driveable again. Because these cars were built so much simpler, you typically don’t need a lot of mechanical knowledge to get involved. That said, it’s still worth doing some research before you start buying up cars to restore.
The increasing price of electronics and the growing demand for vintage electronics, has resulted in a booming second-hand electronics market. If you have any experience with repairing electronics, getting into electronics restoration could be a good business venture. This could include restoring all kinds of electronic items from vintage consoles to modern smartphones. You can buy many parts online cheaply. This guide to restoring electronics outlines some of the kit you’re likely to need.