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6 smart ways to make money from your home

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Home is where the heart is… and the cash too, if you’re savvy. Have you ever considered how your home could earn you money?

Money and a house

There are many easy ways you can earn a bit of extra money from your home. Here's a few ideas to consider if you're looking to make an extra bob or two. 

1. Rent out your garage or parking space

Brick garage

Live in the city centre, near a train station, airport or sports stadium?

Your parking space could have serious earning potential if you rent it out to a daily commuter or on a long-term stay basis.

You can list your details on an established site for a small fee: try Just Park, Parklet and Your Parking SpaceOr why not promote it yourself with Gumtree.

The parking space has to be on private land – so you won’t be able to rent out your resident’s permit for street parking.

Bear in mind that there might be tax and home insurance implications, so check before you sign up.

2.Take a lodger

female hand passing keys

If your spare room is dead space – it could make a handy regular income.

Here’s the good news - lodger-landlords are about to get a tax break. From April, you can earn up to £7,500 a year tax-free. 

It’s possible to share your home with a lodger without it becoming a huge hassle.

Many shift and temporary contract workers need accommodation for short periods. Try contacting local businesses, colleges and hospitals to see if they have a scheme you could sign up to.

With SpareRoom or Easyroommate you can list a furnished room, or try the bed-and-breakfast route for travellers using Airbnb and Wimdu.

Just make sure you run it past your home insurer and mortgage provider before taking the plunge.

3. Open your home to a film crew

TV crew

Yes, that’s right - your house could be the new Downton Abbey (maybe a little bit smaller). Film and TV crews are constantly on the hunt for locations and you don’t have to own a stately home to qualify.

You could bag more than £400 a day, but it can be very disruptive. You may need to move out, put your belongings into storage or even agree to redecorate.

Check out Lavish Locations and MyYour, they match houses with production companies and photographers.

4. Turn your garden into an allotment

Green patch

Grow-your-own is such a big craze that demand for allotments far outstrips supply. Ride the wave by renting out your own green patch to local gardeners.

Most council allotments cost about £30 a year to rent, for a plot 125 or 250 square metres in size. 

You could hire out a similar sized space on Spare GroundIt's free to list and you can charge what you want, but be sure to check the T’s and C’s.

5. Host overseas students

International students

If you don’t mind a little hard work, hosting foreign exchange students can be a steady earner.

Contact language schools in your area, but be prepared for a thorough vetting process - including a home visit and police check.

You’ll usually need to provide breakfast and an evening meal (sometimes a packed lunch too), and students tend to be placed in pairs or threes. 

Average rates of pay can stretch to £100 per student per week, and it’s a free way to improve your French and Spanish!

6. Throw parties (this is our favourite)

friends at party

Home-selling parties are a super-flexible way to make money from the comfort of your living room with the added benefit of meeting new people and having a bit of fun.

And it’s a growing industry. Dozens of your favourite brands could be looking for party planners to sell their jewellery, childrenswear, lingerie, skincare, books, homewares and more.

How does it work? Some schemes require you to make a small investment in start-up kit, then it’s up to you to rustle up interest among friends, colleagues and neighbours. 

Plan the party, and prepare to pocket a percentage of everything you sell. Get in some fizz and a few snacks and you’re good to go.

Go to Find a Party to search for a company that takes your fancy: choose from the likes of Yankee Candle, Virgin Wines, Ann Summers, Temple Spa, Sweaty Betty and Neal’s Yard Remedies.

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