Thursday, 8 August 2019

How your home can make you money



Your home is probably your most expensive outgoing. Mortgage/rent payments, utility bills, that insta-famous monochrome rug you couldn’t resist.


So, wouldn’t it be great if your house actually made you some cash for once? We’re not talking about selling up and moving. This post is about the ways your home can make you money without you having to do much at all. Our kinda money saving!

First up, do you have a garage you don’t use, a half-empty loft or a garden shed with nothing in it? Storemates is a website where you can list your spare spaces and people can rent them for a fee. It’s free to list your space. The site adds a small charge on top, which the storer pays.  

Next, do you have an empty driveway? Or even a spare spot on your driveway? Why not rent it out? This can be particularly lucrative if you live near a station or sports stadium or you’re in an area with annoying parking restrictions. Check out Justpark.com. It’s free to list your driveway and you can set whatever price you think is reasonable.

How about renting out your spare room to a lodger? If your home is central, it might suit someone looking to cut their daily commute. Take a look at MondaytoFriday.com if you just want a lodger during the week, but your home to yourself at the weekend. A three-month listing will cost you £29.95. Other popular listing sites include Spareroom.co.uk and uk.easyroommate.com. You could also advertise in your local libraries and newsagent windows. It's worth remembering the government's Rent-a-Room scheme lets you earn £7,500 a year tax free. 


Have you always thought your living room/kitchen/downstairs loo would look good on the big or small screen? If so, you could rent your house out for films, TV shows, commercials or photo shoots. Sign up to an agency like Locationworks.com (who’ll take a cut of your earnings) or get creative and make your own website or set up your own Instagram page publicising your property.

Are you an amateur gardener? Do you enjoy making your garden look pretty or planting fruit and veg? How about turning your passion into a money-making scheme? You could sell your produce from your own home or at a local market.

Just a quick note: it’s worth double checking your insurance documents if you’re making money from home to make sure your ventures don’t invalidate your policies. Also, if you make big bucks, there may be tax to pay.


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