Making money on the side is a task with many routes to go down. Advice on the internet and from personal finance experts ranges wildly, and it seems like the possibilities are endless - some places you are recommended to write a book, while for others you should hand-craft some things to put on Etsy - choosing what works can be a daunting task with all the different options out there.
If you want to look for a different way to make money why not explore using the resource you use and interact with every day - your own home. There are numerous ways to make money from your home, and with the right amount of pre-planning and a little elbow grease, you could be making some serious income from it. We’ve researched a list of 5 strategies people are using right now in 2018 to leverage their own homes to maximum effect. Give them a go today.
1. Rent out your belongings
You probably own a few things that cost a lot but never really got used more than once. Cast your mind to the power-drills, the 30ft ladders and the racing bikes you convinced yourself into ordering on Amazon, used once or twice and since then, are gathering dust. Well, now there is a way to put those possessions to better use - by renting them out to your neighbors.
This is all made possible through the sharing economy, famous examples of which are Uber and Airbnb. For possessions (rather than cars or spare beds) the site to look at is the new sharing economy platform Fat Lama. It has ‘almost anything’ as the commodity that its users are lending and borrowing, and the things you can lend out there truly are almost limitless - users are listing things ranging from drones all the way to VW campervans. This is one of the best ways to leverage the things that are just lying around in your home, waiting to be used
2. Lend your home as storage space
The team over at Storemates have made a realization that is devilishly simple about your, and everyone else’s homes - they are, in essence, storage units. If you think about what your home is, its essential purpose is to keep your things (as well as you) warm and dry. And this is all that is required for a storage space as well.
Storemates use this to principal to encourage people to start making a little extra money engaging in peer-to-peer storage - if you have some spare space in your house, maybe in your attic, cellar or a spare room, then you could be making some good money storing other people’s possessions for cash. For having to nothing more or less, this is not a bad option for your own little side hustle.
3. Your house could be in a movie
It may seem like all Hollywood movies are filmed in those big cardboard cutout sets you see in the pictures. Actually, filming takes place in a huge range of different locations, ranging from mountain ranges to real-life living rooms. That second one is actually true by the way - more often than not houses on the big screen are real homes, which real, quite entrepreneurial people, live in.
Agencies like Shootfactory are constantly on the lookout for new locations to shoot in, and can pay some serious fees to people who own roomy, aesthetically pleasing houses. All you need to do is stick a few licks of paint on your walls, steam the carpets and make sure your furniture has a decent, consistent aesthetic to it. Agencies can pay hugely per day to use these locations - think $500 for a modeling shoot and up to $2,500 for a film shoot - just be prepared to have parts of your house out of bounds for the time’s crews are inside.
4. Lend your driveway as a parking space
You’re probably not a fan of looking for parking spaces, and you’re probably aware that you aren’t alone. People hate the rigmarole of driving around endlessly looking for somewhere, anywhere, to park and you and use this to make a bit of money.
Sites such as JustPark and YourParkingSpaceare leveraging this to good effect. Another way to contribute to the sharing economy, this time you will be lending out your park-way as a parking space for a small fee. If you live in an area that it’s hard to find parking in then this is a great option for you. And you’ll be genuinely making people’s lives more convenient as a result, so it’s really a win-win for everyone involved.
You can set it up in no time at all, so it’s definitely worth checking out.
5. Start doing homestays
If you have a spare bed, you have probably considered using it to lend out on Airbnb - this is a good option but there are more lucrative one’s out there. One example is acting as a homestay.
This is essentially the same thing as Airbnb, but you’ll be hosting foreign students specifically. The emphasis is more on them living alongside you and getting a genuine taster of your own culture. Homestays are usually a little bit more involved than standard settings, and you’ll probably be expected to involve your guests in some of your daily rituals, including mealtimes and one or two days out. But the income is well worth the extra time you put into it.
With sites like Homestaynetwork or EF, you can expect to be making a lot per week. Of course, the fees vary according to how many you host, for how long and where you are located, but you could be really making up to $400 a week acting as a homestay - these are numbers that are quite hard to ignore.
So there are 5 ideas for using your home to make some serious money - some you can set up in a day or less, and others require just a bit of thought and attention, but all can be making a good amount of income to boost your earnings right now. Check them out!