Make money from your home
- Ten of the best ways to make money from your home
- Tips on renting a room to foreign students, using your home for photo shoots and house swapping
- Find out how much money you could earn to maximise your biggest asset
Follow our 10 tips to finding alternative ways to make your house pay.
1. Rent out your spare room
One of the more obvious ways to make money from your home is to rent out a spare room. According to the government's Rent-a-Room scheme, you could earn up to £4,250 a year tax-free by getting a lodger.
2. Event renting
If you live close to a sporting or festival venue, you could cash in by renting it out to fans or even participants. Edinburgh and Glastonbury festivals, as well as events at Wimbledon and Henley could all provide such opportunities, while next year's Olympic Games will be a great earner for thousands of Londoners.
3. Rent out your home for films
Fancy your home as a film star? You could rent it out to film or TV production companies. Registration tends to be free, though you may have to pay a commission of the total location hire fee - see sites like AmazingSpace for more.
Most demand is for large houses with big rooms and plenty of good parking, though all types of property are sought, from contemporary conversions to classic period homes.
4. Photo-shoots from your home
As with films and TV, renting out your home for photo-shoots could be a great source of extra cash. Though it can be inconvenient having a big crew in your house, if you get a shoot that lasts over a day you could hit the jackpot - anything from £500 to £1,000 and more.
5. Host a foreign student
Another great way of making use - and money - out of an empty room is by renting out to foreign students needing a place to stay. Students could stay for a couple of days or up to a year, depending on the length of their course.
You can expect to earn around £100 a week for a standard room - see Hosts International for more.
6. House swapping
While this technically won't earn you money, swapping your property with someone else's could save you hundreds of pounds on expensive hotel accommodation.
7. Make money from your driveway
Listing your driveway or garage on sites like ParkatmyHouse and YourParkingSpace could earn you cash from motorists needing a place to park. You decide what to charge, with the going rate depending on location, demand and facilities, such as lighting and security.
Register your space for free and you could earn anything from £50 to £300 a month.
8. Put your home office to use
Make money from time spent online by completing surveys from your home office. As long as you're happy to fill in lots of online forms you could get quite a bit back in return.
Research company YouGov gives you points for every completed survey - collect 5,000 and you'll be sent a £50 cheque in the post.
9. Set up a smallholding
If you have a large and unused garden you could put it to work by setting up your own smallholding. You can grow your own plants and vegetables, or keep chickens, selling your home-grown produce at local shops, markets or simply from home.
Visit Countrysmallholding.co.uk for lots more information and advice.
10. Clear out your clutter
Clear out your home and reap the rewards by having a garage sale. Make sure to check the weather forecast in advance and post flyers with your address and a map, enticing potential buyers with homemade lemonade and cake.