How to make extra cash from your home

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Did you know there are lots of ways you could make money out of your home, without having to sell your property?

Recent research from Gocompare.com found that a third of Brits have an ‘earn from home’ scheme, with the most popular ways including selling items online and renting out a spare room.

Here are a few other ways you may not have thought of. You can also find more ideas on how to make money out of your home with this interactive guide.

Rent out storage space

If you’ve got some spare space in your attic or garage, you could register it online and rent it out to people near you. List your space with sites like storemates.co.uk, undercut commercial rates in your area, and your empty space could soon be paying for itself.

Get online

There are lots of different ways to make money online, such as using cashback sites for purchases, or even entering competitions. If you don’t mind taking surveys in your spare time, you could also sign up to sites such as Yougov.co.uk who’ll pay for your opinions on a variety of subject matters.

Become a pet sitter

If you love animals then you could think about opening up your home for pet boarding. Register online and advertise your services to start receiving messages from pet owners near you. You may need to take out public liability insurance however, and be aware that your home insurance probably won’t cover any accidental damage caused by pets.

Turn your home into a film set

Your home doesn’t need to be glamorous or unique to be camera-ready. There are film crews all around the country looking for properties of all types for filming and photo-shoots, and you could earn cash by inviting them to use your property as their set. Make sure you check if your insurer will cover you for any accidental damage first.

Whichever ‘earn from home’ scheme you use, remember any extra money you make will be subject to income tax and must be declared to HMRC. Make sure you check with your insurer, mortgage provider and/or landlord before renting out areas of your home or your car.

 

Disclaimer

The contents of this article are for reference purposes only and do not constitute financial or legal advice. Independent financial or legal advice should be sought in relation to any specific matter. Articles are published by us without any knowledge or notice of the circumstances in which you or anyone else may use or rely on articles or any copy of the information, guidance or documents obtained from articles. We operate and publish articles without undertaking or accepting any duty of care or responsibility for articles or their contents, services or facilities. You undertake to rely on them entirely at your own risk, and without recourse to us. No assurance of the quality of articles is given or undertaken (whether as to accuracy, completeness, fitness for any purpose, conformance to any description or sample, or otherwise), or as to the timeliness of the publication.

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