There are many reasons why you might need some spare cash and one way to do this is by utilising your home. Here are some suggestions of how to make some money from your home, but always check with a landlord or mortgage lender if you don’t own your own home.
- Rent out a room
Did you know that you can rent out a spare room in your home and claim tax-free cash? It’s perfectly legitimate and you don’t have to tell the taxman. It’s a way to encourage people to rent out spare rooms to ease the housing shortage. You could be earning hundreds of pounds extra every month.
- Rent out your driveway
Not only are we short of housing but we are woefully short of parking spaces too. You could be making money if you have a driveway going spare. You can command a higher price if you’re lucky enough to be close to popular attractions, a major airport or large businesses.
- Release some equity
If you own your home, you could be sat on a gold mine, but that wealth is trapped in the bricks and mortar. One option is looking into an equity release scheme. Equity Release Marlborough is a chance for you to borrow against the value of your home without having to sell. For more information on Equity Release Marlborough, visit Chilvester.
- Make your home famous
Certain types of homes are often in need by film-makers as sets for their productions. Whilst this probably won’t make you enough to retire on, you can consider registering your home with an online agency, especially if your home is unusual, quirky or very old for example. There’s never enough demand to make this a regular payment though.
- Sell stuff you don’t need anymore
When you look around your home, you probably have hundreds of pounds worth of stuff that you no longer have a use for. Things like CDs, DVDs, clothes, furniture and toys for example. Clear some space and sell it online or at a car boot sale to raise some extra cash.
Other items like books, computer games, old electrical kit and phones can be sent in the post to companies like Music Magpie. There are dedicated selling pages on Facebook and apps like Shpock and Gumtree are also available.
- Take in students
Not everybody likes the idea of a lodger. If that’s not for you, why not consider hosting a student? You get to help out a young person whilst making some handy extra cash for yourself. It need only be for a few weeks at a time and you can earn on average £100 per week for providing them with a roof over their heads and possibly a packed lunch every day.