How To Make Money From Your Home Without Selling

If money is tight and you’re looking for ways to improve your finances, then the answer could be right under your nose. Your home may well be your castle, but it’s also a potential source of revenue, and you may be surprised not only by the amounts that you can earn but also in the vast number of ways that your property can generate a monetary boost. You no longer have to sell your home in order to create that fresh injection of cash, and once you start looking into potential profit-making ideas, you might end up wondering just why you hadn’t thought of it before.

Part One: Using your spare rooms

Unused space is wasted potential, and if you’re hoping to make some money from your home, then you need to start with your spare rooms. Those rooms that have become cupboards and storage rooms for all that ‘stuff’ that you can’t bear to throw away, is eating up your profit potential. So clear them out, spruce them up, and suddenly you have the ability to earn some money. You can do this in two ways. The first is the traditional route of getting yourself a lodger. This is a tried and tested way of saving money and making money, and depending on where you live, there may be tax incentives as well. With the sheer variety of people looking for lodgings, you can pick and choose the person best suited for your lifestyle, and reap the financial rewards.

If the idea of a full-time lodger doesn’t appeal, then how about temporary ones? Tourists have a lot of spending money, and you can become part of the tourist sector by renting out rooms on a temporary basis. The rise of sites like Airbnb and Wimdu have seen significant numbers of people reject traditional hotels and opt instead to book weekends or longer in residential property. You could be hosting those guests, and even if you don’t have a spare room, you could even consider renting out the property while you’re away on your own vacation. That could certainly help your wallet!

Part Two: Rent to farmers

If you’re out in the country and you have the space to spare, then why not consider looking at agricultural buildings for sale? Having some brand new, durable steel garages, or even barn buildings, could be the essential resource that your local farmers are looking for. Not only will this help you out financially, it can also add value to your property for that future when you do wish to sell, so it’s worth looking into.

Part Three: Use your home as a film set

If your home has a uniqueness to it, then you may be able to rent out your home to a film production company. Film and television companies are always on the lookout for new locations, and there are even people whose job is it to find those locations. Although the returns on this may be very sporadic, the potential profit on offer is impressive, especially considering that you don’t really need to do much more than tidy up before they arrive and after they’ve gone. You never know, you may even meet some celebrities!

It’s too easy to fall into the trap of looking at your property as a long-term investment. Doing so is to miss the potential money that you could be making from your home, even while you’re still living there.