Since Airbnb launched, it has created broader ways to make money from our homes with the average UK host earning approximately £3,000 hosting on average for 36 nights per year. If you’re looking for ideas to use your home as a way of making some extra cash, then there are plenty of options to choose from which range from family business ideas that work to selling your unwanted items online. Using your home as an asset can be an ideal opportunity to earn some extra cash for a family holiday or treats, and here’s some ideas to get you started.
Rent out extra space
If you have children still at school, it might not be so easy to rent out rooms privately or use it for an Airbnb option. However, there are plenty of alternative possibilities such as using your garage to lease as a parking space, particularly if you’re close to a city centre. Alternatively, use your empty space to offer storage solutions for people which can bring in a steady income on a regular basis. For older parents whose children have flown the nest, consider your options for extra financial help such as tapping into the equity of your home where you won’t have to make repayments back to lenders so it can free up some cash to do as you please.
Use your skills
You don’t necessarily have to start a full time home-based business but can use your skills for sharing with others instead. Anything from knitting with a small group to teaching a language can be advantageous for everyone. Similarly, if you’re a wizz in the kitchen the possibilities of hosting paid dinner parties or kitchen products, offering personal chef services or even cookery classes can all rake in the extra cash you need without interfering with your family life.
Show off your home
Increasingly, there is big money to be earned through opening your home to a film crew or photo shoot. While you may have to leave your home for the day and the pay is generally higher for popular areas or quirky homes, signing up to an agency could see your home on the pages of a magazine or on a TV commercial. If this sounds too intrusive, people will rent out a home office to work from or a kitchen to cook in just for a few hours a week when they haven’t got the space in their own homes.
Whatever the reasons you want to use your home to generate extra cash, being creative with the space or amenities you have can open up the possibilities and see your bank account increase from the profits of your home.