7 steps to turn your home into a cash machine

Designer clothes gathering dust? Old mobiles tucked in a drawer? Free space in the driveway? Follow these...

YOU might be surprised to know there is also plenty of money to be made in your own home. Even if you think you haven’t got anything much to sell, I guarantee there is a whole pile of stuff sitting at the back of your wardrobe or in your loft that someone, somewhere, will buy from you. Just work your way through each room one by one, starting in the loft or at the top of your house. Take a moment to look at every item and ask yourself if you’re really going to wear that jacket again or read that book, or if you are holding on to it for other reasons.

It could be sentimental, or because you spent a lot of money on it and think you should get more wear out of it.

Whatever it is, if you know in your heart that you’re not going to use or wear it again, then put it in the declutter pile and start making money!

1 CREATE YOUR OWN STYLISH SHOP ON eBAY

I LIKE to sell my old clothes and smaller home items on eBay because it has a huge nationwide, even international audience which means I can get as many people as possible bidding on them.

I also like the fact that eBay lets its customers rate you, enabling you to build a brand and a loyal customer base.

As a seller, you are covered legally, so if a customer doesn’t pay you can open up a dispute case and get things sorted.

The items that sell best on eBay are small enough to post, come from good brands and hold their value. I regularly sell designer clothes, good-quality shoes, bags and belts, unused make-up, costume jewellery and home items such as candlesticks or placemats.

M A good sale is all about the pictures. So find an uncluttered space and set up a little home studio with a plain background and good natural lighting.

Take loads of pictures of your item from every angle, so people feel they are really getting a good look at what they are buying.

On a typical fashion website such as Zara or Boohoo, you’ll get about eight pictures for each item, so follow their lead and put as many pics as you can on there.

M Hang clothes on a wooden hanger (not plastic or metal) and style the picture with flowers in a vase or a picture in a frame. Think about the way things look in online shops and try to bring a bit of that style to your images.

M If there are any flaws, show them clearly – there is no point trying to hide them as the item will only get sent back.

M Boost your sale potential by being descriptive and informative: instead of saying ‘blue top’, say ‘Whistles blue silk blouse 12 SS20 vintage fashion’.

2 SET OUT A STALL ON FACEBOOK MARKETPLACE

I LOVE using Facebook Marketplace for shifting larger items at a local level – buyers usually collect their items so you don’t need to worry about postage.

You still need to take clear photographs and describe your item’s faults, if it has any.

3 CASH IN OLD MOBILES

THAT old handset sitting in the back of your drawer could be worth hundreds of pounds.

Just type the name of your model into one of the many mobile phone recycling websites, see what it might be worth, then pop it in the post and wait for the cash. Remember to put it back to factory settings before you send it.

If you find a really ancient phone, it’s worth checking on eBay, as people will pay good money for old tech – the older and rarer the model, the better. The first Nokia mobile phones from the 1980s are fetching up to £1,000.

4 SAY ‘YES’ TO ONLINE SURVEYS THAT PAY OUT

GO ONLINE and search for survey sites. They all have a slightly different approach, but many will pay you either with vouchers or cash direct to your account.

Surveys won’t make you rich in a hurry, but they can boost your bank balance and is usually something easy that you can do even while watching TV.

5 PUT UP A TEACHER OR STUDENT IN YOUR HOME

IF YOU’RE lucky enough to have a spare room, it could be earning you thousands of pounds a year.

I’ve let a bedroom to trainee teachers from France on work experience at the local secondary school and we really enjoyed having them to stay.

You could also offer digs to touring performers or language students visiting your area for short periods – they probably won’t be at home much.

Call up local theatres, schools and language schools to find out how to get on their accommodation lists or use an accredited service such as spareroom.co.uk to guide you through the process.

6 YOUR PARKING SPACES CAN PAY THEIR WAY

IN MANY areas, parking is notoriously difficult and expensive, so commuters who drive to work or to the station to catch a train might be looking for somewhere cheaper to leave their car.

Having an extra car in the drive or the garage might make no difference to you (it could even act as a burglar deterrent) and could earn you £50 a month. Use a specialist app like JustPark.

Similarly, if you drive to work or to a specific destination on a regular basis, check out your options for renting a parking space instead of paying extortionate fees.

7 RENT OUT YOUR HOME WHEN YOU’RE AWAY

IF YOU can make it work for you, letting your home on Airbnb or similar can bring in some really good money.

In 2020 the average rent for a seven-night stay in the UK was about £600. That’s £2,400 a month!

I have friends who let their houses when they go on holiday – which means their holiday pays for itself – and I know someone who lets her flat one week a month while she stays with her mother.

Even if you don’t live in a desirable part of the country, someone might need accommodation for business reasons, or for visiting relatives. Do your research and work out if it can realistically work for you.

If you’ve got a messy home or family members who don’t like the idea of shipping out on a regular basis, then renting your home might not work. But if you’re a minimalist who likes to get away, it could be a lifesaver.

Your success at letting any property will depend on the photos. Take shots that show all the aspects you would like if you were staying there – the kitchen looking clean, freshly made beds, nice views if you have them, a comfy living space.

A little effort before you upload those pictures can make a big difference to your bookings.

M Adapted by Louise Atkinson from Money Mum Official: Save Yourself Happy, by Gemma Bird.