Could Your House Be a Moneymaker?
Chances are your home is the most expensive purchase you’ve ever made, and chances are it still costs you a lot of money in running and maintenance costs. But, have you ever thought that your house could also be a moneymaker?
If you haven’t considered the money-making possibilities of your home, read on and you soon will!
Get a tenant
The most obvious way to make money from your home is to list a room with William Gleave Estate Agents and have them find you a suitable tenant. In the UK, you can earn up to £7500 tax-free by doing just this, but of course, it’s not for everyone – having a stranger in your home is something you need to consider carefully.
Rent out space
If you don’t like the idea of having a person in your home, how would you feel about storing their stuff? It’s surprising but you can make as much as £500 annually, just by renting out 15 square feet of storage space. This is a similar amount to the cost of hiring a commercial storage unit, but a lot of people would feel much more comfortable having their stuff ins someone’s home attic or garage where they can keep a close eye on it. Just make sure that your insurance will cover their belongings too – you may need to extend the policy for it to do so.
Sell it for photoshoots
If you have a particularly attractive property, you may be able to earn as much as £500 each day by hiring it out to magazines for photoshoots and other media work. If you can swing a film shoot, then you could earn as much as £2000-2500 per day! That’s not to be sniffed at.
Put it on Airbnb
Going away for a while? Why not rent your home temporarily on Airbnb? By doing so you could potentially pay for your own holiday! Your home will need to be presentable, and you’ll make more if you live in a touristy area or beauty spot, but you’d be surprised at how much money you can make even in a small town if you market your home right.
Install solar panels
Okay, so solar panels and wind turbines are expensive to install, especially in non-commercial settings, but they will eventually pay for themselves when you can generate your own energy and save a bunch of money. It’s certainly not for everyone, but it’s worth throwing it out there.
Grow your own
If you have your own garden, and you’re even a little bit green-fingered, why not turn some of your green spaces into a fruit and veg garden, and slash your grocery bill in the process? It may seem unlikely, but there are plenty of people in the Uk who never have to pay for their fruit and veg unless they fancy something a bit exotic, and the savings can be bigger than you might think.
Your home may be costing you a small fortune, but it can also make you a small fortune too, so what are you waiting for?