I did that

and then had a tiff with the neighbor and never got my key back. lol

I hide mine in plain sight. I have a wind chime made of keys and I just replaced one of the keys with my key. A thief would break in the door rather than try every key on that thing to see if any work.

Edited to add: For Christmas, my mom gave me a hide a key thing that looks like a sprinkler head. Since I don't have a sprinkler system, I thought it might look a little obvious.

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The road to success is always under construction.