With the cost of living ever rising, many of us are looking for ways in which we can be more efficient with our homes. This can be in a variety of ways, from reducing the cost of our energy bills to subletting your property to make use of all the space our homes provide. Here are our top tips to get the most financial efficiency from your home, helping you to save that little bit extra during this tough time.
Improve your heating efficiency
The cost of heating has arguably increased the most in recent months, and whilst we may not have experienced the impacts of this during summer, it is sure to be reflected in our winter bills. The most obvious way to reduce the costs of energy is to use less of it, but this isn’t always possible, especially with an increase in working from home. Upgrading your heating system is a sure way to be more financially and energy efficient. Despite the initial outgoing cost of upgrading your heating system, over time the efficiencies that come with the upgrade will save you money.
Rent out your driveway
Renting out your driveway is possibly one of the easiest ways to make money as it requires little effort and time on your part. As you drive off to work in the morning, someone who is eager to find a space in your local could be pulling up – allowing you to make extra money from your home on a regular basis. Obviously, this is only an option if you live in an area that has limited parking, but if this applies to you then it is definitely worth registering on apps such as Just Park, and seeing how much you could earn. It will be important to maintain your driveway well to ensure repeat custom!
Rent out storage
If you have a spare room, garage, or empty attic why not put this to full use and rent it out as storage? Not only is this easy to do on apps such as Store Mates, but you can also help out someone who is in desperate need of extra space, whether this is long-term or short-term. Make sure you have sufficient insurance to cover your belongings, but also theirs in case of theft or fire. If you don’t currently have extra storage, consider adding this into your home yourself in order to reap the rewards of renting at a later date.
Air BnB your home whilst you’re away on holiday
You would often be surprised at how many people would be looking to rent a home in your area, even if it is just temporarily whilst you are away on holiday. Why not consider renting your property on Airbnb whilst you enjoy the sunshine? If you have a spare room that is permanently available, you could also consider a lodger for a more long-term stream of income. Be sure the house or room are kept at a high standard to receive good reviews.