Owning a home is a dream for many in the UK, but once you get the keys, you’re often faced with unexpected costs. Fortunately, there are plenty of ways to make money from your home, potentially even making it pay for itself. Here are some ideas to get you started:
**Airbnb (£300/weekend)**
If you have a spare room, an empty granny flat, or even just a sofa bed, consider listing it on Airbnb. It’s a great way to earn extra cash and meet new people. However, it requires keeping the space clean, good communication with guests, and being available for check-ins at odd hours. Most hosts in the UK can claim a tax-free allowance on rental income, but check with an accountant to be sure. Also, be aware of local restrictions and licensing requirements.
**Get a Lodger (£400/month)**
If you prefer a more consistent arrangement, consider taking in a lodger. This gives you more security and allows you to vet the person carefully. You can advertise in local papers, on social media, or through word of mouth. Create a rental agreement and set ground rules about noise, smoking, and guests. You can earn up to £7,500 per year tax-free under the government’s Rent a Room Scheme.
**Host an Exchange Student (£200+/month)**
Hosting an exchange student can be a rewarding way to experience a different culture while earning some money. Schools and language colleges often look for host families to provide room and board. You’ll need to interact with the student and include them in family activities. Payments range from £50 to £150 a week, depending on location and room size.
**Rent Out Storage Space (£100/month)**
If you have unused space like a box room, attic, or garage, consider renting it out for storage. Websites like Storemates or Stashbee can help you find people who need extra storage. Earnings can range from £20 for a small space to £100 or more for larger areas. Ensure your home insurance covers any potential damage to stored items.
**Rent Out Your Driveway (£90/month)**
If you have a driveway or private parking space, you can rent it out on platforms like JustPark. This is especially lucrative if you live in a busy area. You can earn up to £90 per month for a single parking bay. It’s a low-effort way to make extra money, as it requires minimal work beyond approving requests online.
**Film and Photo Shoot Location (£500-£2000/day)**
TV and film productions often need homes for shoots, and they pay well. Homes with unique features or ample space are more likely to be chosen. The work can be disruptive, and you may need to move out temporarily, but the pay usually covers these inconveniences. Submit your property to agencies like Amazing Space or Lavish Locations to get started.
**Create an Office Space**
With more people working from home, there’s a demand for dedicated office spaces. If you have a spare room or can convert a garage or garden building, you could rent it out as an office. Ensure you provide fast internet, kitchen access, and a quiet environment. Advertise locally and charge by the hour, day, or month.
**Grow Food or Flowers to Sell**
If you enjoy gardening, you could grow and sell food or flowers. This isn’t a quick way to make money, but it can be rewarding if you love gardening. You can sell your produce locally and make some extra cash.
**Start a Home Business**
Even if you don’t have extra space, you can start a home-based business. Blogging, teaching English online, writing, editing, and research are just a few options. You could also consider childminding, pet boarding, or selling crafts. Online jobs like working as a chat operator are also viable options.
In conclusion, there are numerous ways to make money from your home in the UK. Whether it’s taking in a lodger, renting out storage space, or starting a home business, there’s likely an option that suits your lifestyle and property. Now it’s time to take action and start earning from your home!