Category: Make Money

Tips on making more Money from your home

Many people are now making money from their homes. This is not working from home but actually using the house that we live in as a way of earning money. If we are renting our home we are not able to do this unfortunately, but any home owner may have a selection of ways to make money. If the home is being bought on a mortgage then you may need to ask your lenders permission to make money from the home so do check with them first. Below are some different ideas on how you can make money from your home.

Bed and breakfast

If you have a spare room then you could set up as a bed and breakfast and it would be even better if you have a few spare rooms and a spare bathroom as well as a dining area. You will be able to rent the rooms out one night at a time and then you will need to be available to cook breakfast in the morning for your guests. You could also provide them with an evening meal if you want to offer this and charge extra for it. There are plenty of places online where you can advertise that you do this so it should be easy enough to find potential guests although you may have to pay to advertise in these places.

Get a lodger

If you want a more permanent arrangement then you could get a lodger. This will not pay as much as bed and breakfast but it will be longer term and so you will have guaranteed income for longer. It will mean that you will always have someone around which may or may not suit you. You will not have to provide meals for them but you will need to give them access to your kitchen and cooking facilities as well as your fridge and freezer. It may be that you feel you would like to have an extra person living in your home or that you feel that you would rather not. It is a very personal thing.

Rent your loft space

If you have empty attic space then you can rent it out to people to store things in. People who only have small amounts of things to store prefer this to a storage locker as it is cheaper for them. You will have to check your insurance policy to make sure that these items would be covered or you may have to get a different insurance policy for them or let the person know that they would have to insure them themselves.

Rent your garage

Some people have a whole garage that they can rent out. This can be useful for people who have a car that they only use occasionally that they want to store or if they want to use the space for storage or as a workshop or whatever. It might be most useful for people that live really near to you if they do not have a garage of their own or they need extra space.

Rent your driveway

Some people will rent out their driveway as a parking space for people who work nearby. This is particularly good if you do not use your driveway or have a large driveway and live near to a large business without sufficient parking. You can arrange to rent out to the same person every day so that they can walk to work form your house and park all day safely. If there are car parks nearby you will have to offer a competitive price but if there are not any car parks then you can charge a fair bit.

Holiday Home

If you have more than one property then you could rent out your home as a holiday rental. This will bring in more money than renting out full time, as long as you can get guests in a lot of the time. This is because holiday rentals are charged out at a higher rate due to the fact that they are cleaned, provide bedding and towels and are furnished. Some people even do this, just for a while, perhaps over the summer while they are on holiday or if there are local events on where people need places to stay and they can make some extra money from their home.