How can your home help you?
Your home might be the largest asset you own, and could be even worth more than the value of your pension. So if you need some extra money in retirement, whether that's for day-to-day bills, holidays or something else, how could your home help you?
Take a look at some of our suggestions below
Downsize and relocate
Rent a room
Hire out your home for filming
Rent out your driveway
Hosting a foreign exchange student
Opening up your home to a foreign exchange student can provide company, interest and insight into other cultures, as well as a potential revenue stream. Programmes can be run by educational establishments such as local universities to international exchange programme.
Points to consider:
Hosting an exchange student can take up your time, as you'll be encouraged to immerse them in your family and local daily life and culture.
Remember, any income generated may have tax implications.