How much is your home worth?
Now that’s the kind of questions most people come to ask when they’re considering selling – whether they want to upsize and invest the profit in a bigger home, or whether they’ve inherited a property they don’t want to keep. Regardless of the reason, there is an inherent issue about that question. Indeed, most homeowners assume that their house has only a value if they sell it, which ultimately means that as long as you live in the property, it isn’t worthless – from a financial perspective only; there’s no denying that every home has an unquantifiable emotional value. This is a mistake and one that you shouldn’t make in the future. In reality, if you know what to do, you can still make money out of your property, even if you don’t sell it. Admittedly, it doesn’t mean that your home is likely to transform your lifestyle overnight – you won’t become a multimillionaire from monetising your house. But you can make valuable profits, which you can repurpose to maintain a comfortable lifestyle or invest in future projects. Here are a few ideas to get you started.
Can’t wait? Sell it
Everyone can be in a situation where they need to sell a property as soon as possible. Imagine that you’re planning to leave the country and move to the Republic of Ireland or elsewhere in the EU before the Brexit deadline comes in force. You don’t have much time to waste! There are barely 6 months left before the end of March, and you’d love to be packing your stuff and cross the Channel or the Irish Sea as soon as possible. You can get in touch with property buyers who can get you the cash you need almost on the spot. We Buy Any House can make you an immediate cash offer for your property through their online valuation system. For anyone who doesn’t feel confident in the fluctuations of the property market, this is the ideal solution to get rid of a house and move out in a matter of days or weeks. You don’t have to worry about maintaining the property and paying for real estate services for a long time.
Check the loft and the garage
Do you remember that gorgeous little dress you received as a birthday present and that never fitted? Years later, the dress is stored in a bag in the garage, waiting for the perfect moment when it’ll fit again. Or maybe it was the Harry Potter series which you have in double or triple because all your friends bought you the same books at the same time. The bottom line is that everybody keeps plenty of stuff they don’t need. The old rubbish you’ve accumulated and hidden in various locations in the house – in the loft, the garage, the wardrobe in the guest bedroom, under the bed, etc. – can get you some cash. Indeed, you can sell the things you don’t want or need anymore online – eBay jumps to mind.
Make the most of your spare room
Do you have an extra room that only serves as a forgotten dust sanctuary? It’s a waste of space in your home that you can turn into a source of regular income with the Rent a Room scheme. Indeed, as a homeowner and sometimes even as a tenant – you need to check your tenancy agreement for further information or get in touch with your landlord about it – you can earn an income from letting your spare bedroom and receive up to £7,500 tax relief per year. Any revenue above that limit will need to be mentioned in your self-assessment tax return. However, you need to make sure that the room is furnished and that your lodger will have access to all the essential facilities; bathroom, kitchen, and living room.
Want the best price?
If you’re not in a hurry and want to make the most of your property, you might want to consider essential home improvements first. Indeed, making your house attractive to buyers can encourage high price offers and even rapid purchase – even in the harshest market circumstances. You don’t have to break the bank to make it work. Something as simple as fixing small decorative problems such as peeling paint or dirty walls can affect potential buyers positively.
Help a freelancer
The business market is changing. More and more people decide to start an independent professional career without building up a capital reserve first. Consequently, startups and freelancers are likely to flood the market with niche skills but very little business presence. Some of them don’t even have an office to call theirs. If you have a spare room that can be turned into an office, you could rent this workspace for £50 to £250 per day. From a kitted-out living room to a cosy study, you can promote your facility on Spacehop, an online platform for independent professionals.
Make the most of an eerie atmosphere
An atmospheric cottage in the Welsh hills. A hyper-modern home built around smart technology. A vintage house that oozes with the spirit of the vibrant 1970s. Atypical homes make a perfect location for film and photo shoots. Running a location house is a lucrative side-hustle, but it also requires full-time attention. You know that you have to look after it and can’t afford to miss a maintenance appointment. With day rates frpù £350 to £3,000, you can let the house pay its own mortgage.
It’s not a garden; it’s a food factory
If you haven’t considered growing your own food, it’s time to embrace gardening. Indeed, there’s still some time to plant your winter vegetables. You can have plenty of beets, pumpkins, potatoes, and spinach during the cold months of the year and enjoy the taste of fresh and healthy meals. Additionally, you can save tonnes in grocery shopping if you know how to look after your garden and conserve your harvest. So, what are you waiting for to switch to homegrown vegetables?
How much is your home worth? The answer is plenty. PLENTY. Selling your old clutter, growing your supper in the garden, or even renting out your lounge to creative freelancers, there is a lot you can do to turn your home sweet home into a money-making machine. And if nothing else helps, you can still sell it, instantly for cash or through a real estate agency to a private buyer.