New Home, New Debts, New Plan: Income Boosting.

Income Boost

So, for a long time now I’ve been dreaming of ways to own my very own home. In my fantasies this is a beautifully renovated country home, out in the sticks with just fields and animals for neighbours but with access to the hustle and bustle of the city, it’s also pretty big and has a few acres of land…In reality I know I’m pretty far off being able to achieve this. But, it has got me thinking about a couple things. One how I’m going to raise the funds in the first place and secondly, the debt and financial burden that will come with my beautiful new home. So I started doing my research and found that there are some pretty unique way of making some extra money using my current property, which means, when I get my hands on my beautiful country home (and my not so beautiful mortgage agreement) I’ve now got some great ideas for a plan to boost my income.

Have Paying Guests

Spare rooms, annexe’s or out buildings make fantastic spaces for guests but if I set them up as independent, well designed spaces with good linen and extras, I can make a fair some by letting them out to travelers through sites such as Airbnb, UK country rooms for one guest go for an average for £65 a night in the summer months and this can go into the hundreds, so there could be some good income to be made here.

Photo/Film Location

I’m already a sucker for pointing out all the places I’ve visited whenever I get a glimpse of them on TV shows or films so I’m not sure I could contain my excitement if I saw my very own home get a starring role in a film! In all seriousness though, it’s not just the big movies, all media require unique and accessible places to film and big open spaces with feature properties make great locations for photoshoots, plus properties that have great lighting and are adaptable are always popular with photographers. On top of the excitement of potentially getting to spot a few stars or see your home out there in the media, payments come in anywhere between £500 and £2,500 a day, so even though it certainly wouldn’t be regular income, it’s certainly one to the income boost list.

Using the Land

Ok, so this one might be starting to sound excessive, and I know I’m not all of a sudden going to move to the sticks and become a fully-fledged farmer but, I think I could make some money by saving money if I put my mind to it and used my (new fantasy home) spare land. And here’s how…

  • Putting a bit of time and money into an allotment, research has shown that the cost of growing fruit and veg on an allotment is 5 times cheaper than buying it in the supermarket…so this sounds like a good money saving idea to me and it means I’d know exactly where my food came from and that it was free from harmful chemicals, AND, it would be lovely and fresh.
  • Get some livestock, again I know I’m not building a fully-fledged farm but a couple of chickens and a goat would save me money on eggs, milk and cheese and still have all those great foody health benefits.
  • If I’ve got a couple of acres spare, I’ll be able to let it out for a horse to exercise/graze on, this can bring in around £40 a month per horse.

These are just a few ideas I’ve got up my sleeve but I’m sure when I find this dream home I’ll be able to check out exactly how it can be used to my advantage so I can achieve my dream home along with financial independence in plenty of time for retirement.