Spring is in the air. And if you live in Seattle or a city that has dreary weather for much of the year, springtime finally affords you the opportunity to get rid of a lot of junk in and around your house. Why not use this as an opportunity to make a bit of extra money at the same time? Decluttering and organizing your house is never fun, but selling off unwanted items can be surprisingly lucrative. Here are some clever ways that you can make money from spring cleaning around your home.
Host a garage
Hosting a yard/garage sale is the perfect way to get rid of those unwanted items and make some extra cash at the same time. Gather up those gently used clothes, dusty old books, and outdated electronics because someone out there wants them! Don’t let those knick-knacks and trinkets collect dust any longer. Join the garage sale movement and declutter your life. Plus, who knows what hidden treasures you might stumble upon in the process? So, set up those folding tables and hang those signs, it’s time to make some money and clear out that cluttered house of yours!
To get traffic to your garage sale, post about it in local community groups on Next Door or Facebook. And if our city allows, put out signs on main roads indicating the date, time, and address of the garage sale.
Garage sale takes a lot of work to put up so it is best if you have a lot of stuff to get rid of. And it’s a nice opportunity to get to know your neighbors and see people face-to-face, something we as a society do too little of these days.
Take your stuff to consignment shops
These shops offer a great way to get rid of things you no longer need while earning some extra cash. Plus, it’s a win-win situation as someone else gets to enjoy your preloved items. From clothes to home decor, consignment shops accept a wide variety of items that are still in good condition.
Because profit is split pretty evenly between you and the store, you usually won’t get top dollars for your stuff. However, they take the headache and hassle out of dealing with lurkers and countless people asking you about your item or asking if you are willing to budge on price. Also do note that certain consignment shops specialize in sales of certain items—so if you are trying to sell something high-end, be sure to find a specialty consignment shop.
Sell items online that are in good condition but don’t need anymore
Selling online has never been easier, and let’s face it, who couldn’t use a little extra dough? You may think that your gently used items won’t sell, but trust me, there’s always someone out there looking for a good deal. Plus, not only will you be decluttering your home, but you’ll also be helping out the environment by giving your items a second life.
There are the marketplaces everyone knows, like Ebay, Facebook Marketplace, and Craiglist. But there are also specialty marketplaces to sell the stuff that might get you more value, like Depop and Poshmark for fashion, StockX for collectibles, Etsy for arts and crafts, etc. Best Buy even has a trade-in program for your used electronics—but you can only get store credit in return though.
Donate old clothes and books to charity to get a tax write-off
Donating old clothes and books to charity is not only a kind gesture, but it can also provide you with a tax write-off. Whether it’s cleaning out your closet or bookshelves, giving to those in need can lead to a win-win situation. Not only will you be helping others, but you’ll also be able to receive a tax deduction for your charitable donations.
26 CFR 1.170 pertains to the laws regarding IRS deductions for donations and gifts.
If you opt to itemize your deductions on your tax returns, you can generally deduct up to 60% of your adjusted gross income for charitable donations. The amount you can deduct from your taxes (again, if itemizing your deductions) is the fair market value of your donated item at the time.
Spring is here and it’s time to clean out those closets and garages from all the things that you no longer want or need. Sure, it can be daunting at first, but remember that by hosting a garage sale, taking your items to consignment shops, selling online or donating old clothing and books to charity you can get some extra cash in your pocket while helping others. Plus, you can get a tax write-off on donated items! So why not take the plunge and make some room in your house this season? If you’re located in the area and need some help with your spring cleaning, give us a call if you live in the greater Seattle metropolitan area. We’ll provide expert advice ensuring that the process goes smoothly!
