Picture ten years from now. You're just heading into or well into retirement, and you're starting to realize that your house is full of odds and ends that you haven't thought about, let alone used, in years.
Many retirees think about downsizing their homes. Their children are grown and out on their own, and they may only need one spare bedroom when grandchildren come to visit. However, a quick inventory of their home and other assets may reveal items that are collecting dust, which could help them make some extra money.
Turning over items you've owned for decades may seem odd and even a bit sorrowful. A good rule of thumb to follow is this: if you haven't used it in six months (and if it doesn't hold significant sentimental value), it's time to pass it on to someone else. If you have some items that you could sell but aren't sure what sells well, we've curated our top list to help you out.
1. Real Estate
Many retirees have multiple pieces of real estate to their names by the time they stop working regular hours. Whether they bought property to hunt on, purchased a vacation home, or inherited real estate, carrying around that extra land can be burdensome.
If you're not traveling as much or simply need some extra cash, offloading a property is a great way to kill two birds with one stone. Not only will you save money on your property taxes and reduce your stress level, but you'll also score some cash. This concept works double-time if you've paid off the mortgage on the property. In this instance, outside of closing costs you might incur, it's pure profit.
2. Clothing
If you haven't looked in your closet or even your garage lately, go scrounge around and see how much extra clothing you have lying around. Consignment shops, eBay, Etsy, and Facebook, are excellent options for getting rid of clothing you no longer use. Sweatshirts, hoodies, ripped jeans, and boots are all trendy items that usually never go out of fashion.
You can price your items individually or as a bundle. With economic times being what they are, many families look to secondhand clothing in good shape to fill out wardrobes as the weather changes. Now is an excellent time to start offering winter-style clothing items for those looking to up their clothing choices with decent offerings.
3. Vehicles
I remember the day my husband and I sold his 1985 Chevy Camaro. We had two young girls, and money was tight, so we let his car go. He owned the car when we first started dating, and the sentimental value remains. However, not all vehicles have that same status.
If you have a yard or garage full of unused, non-sentimental cars, trucks, or SUVs your family doesn't utilize, why not score some cash for them? Even if they're not of collector value, they can be a great option for a new driver or teenager looking to get their own ride. Offering a gently used vehicle for a decent price can get you fast cash and help out someone in need as well.
4. Collector's Items
When I was about seven, my dad took us to a coin collector to sell some of the coins left to him. I remember they fit into a beautiful blue velvet case. At the time, I had no idea they were valuable, but I understood it was big business.
If you can buy more than one of something, you can start a collection that can quickly grow in value. Coins, jewelry, baseball and football cards, comics, antiques, first-edition books, music albums, video games, and celebrity autographs can all become valuable if you have collections in excellent and pristine condition. All it takes is finding someone with the same passion as you who's willing to pay for your collection. You can declutter your home and make some great extra cash to boot.
5.DVDs and CDs
When the MP3 player came out, CDs almost became obsolete overnight. Enter the Apple iPod, and compact discs were instantly a thing of the past. The same happened with DVDs when Netflix started streaming everything online.
However, despite these relics being “old tech,” there are still those who prefer a CD or DVD over an online option. If your power goes out, you can still use a Discman or portable DVD player to listen to and watch your favorites. Getting these older music and movie options into the hands of those who value them can easily offload some of your clutter and earn you some extra money, as well.
6. Old Toys
I never imagined the craze that would hit when the first Beanie Babies came to market. People went absolutely nuts for those little bears, and some became seriously valuable. Barbie, McDonald's Happy Meal toys, and Cabbage Patch dolls all also ring that bell of popularity from my childhood.
If you have a set of old toys like this, especially if they're still in their packaging in exceptional condition, you can likely find someone who'd like to take them off your hands. Given their antique status, they would be worth some serious money to the right buyer.
7. Cumbersome Furniture
My grandmother used to always have this bowl of plastic fruit on her dining table, and I couldn't ever figure out why on earth someone would want fake fruit in their home. Now, I find myself analyzing the furniture that hangs out at my house. For the most part, I use couches, a kitchen table, and a coffee table for drinks, especially when we have company.
However, I don't like to clutter my home with furniture that doesn't serve a purpose. I'll likely never buy a grandfather clock or excess space eaters that don't do anything but collect papers and things I already need to throw away. Finding these dust collectors in your own home can give you an avenue to earn some decent cash and get some much-needed space in your house to enjoy.
8. Timeshares
Unless you use your timeshare regularly, you could use the upkeep fees elsewhere. If you're not keen on the idea of offloading your timeshare completely, you can rent it out when you're not using it.
However, if you're not into creating a rental agreement for your timeshare or handling the hassle of renting out property, feel free to sell your timeshare and save money for other areas of interest you have.
9. Books
When the first e-reader hit the market, many people thought that would be the end of printed books. However, print editions remain available, and home libraries remain filled with rows of books.
Having a luscious library is a wonderful thing. However, if you have books you haven't read in millennia, it might be time to consider downsizing your collection. When I was little, my parents had the Encyclopedia Britannica collection, and I fondly remember loving the information contained in those books. Now, you can find that sort of thing online, and there's no need to hold onto the entire set if you don't actively use them. This process is useful for any book that isn't a regular read. You can donate the books to a school library or sell them to a consignment shop for some extra cash.
10. Sporting Goods
When my husband and I had been married a few years, I paid to have one of his fishing poles redone and a heavy-duty fishing reel attached for our anniversary. It was a fantastic-looking rod and reel when the artist finished it.
The sentimental value was such that we kept that pole when we downsized our collection to just a few poles for a spontaneous day of fishing. Sporting goods that collect dust in your home or garage aren't worth the space they take up. If you don't need the money, you can donate them to Goodwill or sell them for cheap to a consignment shop. If you're looking to make something from them, a yard sale or posting on social media might earn you more.
11. Handbags
I have one purse and one wallet. However, I'm also at a stage in my life when my youngest children have yet to start school. For older women who've retired, keeping a collection of handbags may become impractical.
Pick out two you can't live without. Take the rest to the Good Will, a secondhand store, or sell them online and earn a bit of cash. If you have designer bags, be sure to price them appropriately if you're looking to earn money from a sale.
12. Luggage
With nine people in my home, I don't have a lot of excess room to store things. Luggage is always a fun chore because I rarely have the number of bags we need to travel. For those of you who have an abundance of luggage you don't need anymore, selling it can be a financial windfall.
My mom loved Samsonite luggage, and brands like this are very popular. If you can come up with an entire set of luggage from the same maker, you'll likely get plenty of offers to take them off your hands. Be sure to price your set appropriately based on condition.
13. Exercise Equipment
Please don't ask me to admit how much exercise equipment I've bought that I've later turned around and sold or simply donated. I really don't want to know the total I've spent. However, if you have equipment that's just collecting dust, there's always a market for used equipment in great condition, and you can easily score some cash by selling what you're not using.
My biggest purchase was a Bowflex Treadclimber, for which I paid a pretty penny and sold for $700. It didn't nearly recoup my initial payment for the equipment, but it was certainly better than nothing.
14. Musical Instruments
While I am not musically inclined, my dad and nephew play the trumpet, and my sister was quite skilled at the flute once upon a time. However, as life often does, it takes us in different directions, and an instrument we once enjoyed playing doesn't hold the same pleasure it did.
If you have musical instruments in your storage that you no longer enjoy playing, consider donating them to a school for their music students. If you need the income, you can certainly sell them online. A well-conditioned instrument would be helpful to someone who wanted a particular piece but couldn't pay full price for a brand-new option.
15. Power Tools
My husband is never happier than when he has a drill in his hand. He enjoys building and creating and is handy around the house, fixing issues as they arise. However, as we've gotten older, we've slowed down and tried to minimize the issues that pop up.
If you aren't inclined to fix things around the house or prefer to pay out-of-pocket for home and auto repairs, consider selling your power tools. If you have a good assortment, you can list them individually and then make a base price to sell them as a set. If the price is right, anyone looking to upgrade their toolset will snap up your offering quickly.
