More and more people are looking for ways to earn extra money. Fortunately, in 2024, your options aren’t limited. More conventional options include things like changing jobs, achieving a promotion or selling unwanted belongings. On the flip side, more modern ways to earn money include investing in crypto and starting a dropshipping business. But if you are looking for an additional income stream, it may be worth starting with your own home. 

There are various ways you can turn your home into a money-making machine with some options requiring more effort than others. Here are a few ways to make money through your home.

Earn Through Renting 

The obvious way to make money through your home is through rent. But don’t worry, this doesn’t mean you have to live on the streets while someone else rents out your home. There are a number of ways you can earn from rent while still living in your home.

List your home on Airbnb

If you find yourself on holiday or travelling for a period of time, even if only a weekend, listing your home on platforms like Airbnb can be a great way to earn passive income while you enjoy your travels. It’s free to list a property so all you’ll need to do is decide what price you are prepared to rent out your home. It is worth factoring in the cost of cleaning and repairing when putting a valuation on your rental property.

Take in a lodger

If you have a spare bedroom, consider taking in a lodger. This is another great way to earn money from your home without putting in too much effort. Obviously, you’ll need to ensure you choose a lodger whom you get along with and the process of finding a lodger will require your involvement. If you’re able to find someone with similar interests, this could be a way to earn money while also improving your life.

Rent out space in your home

If you’re not comfortable with having a stranger inside your home, there are other options. Consider renting out areas of your home rather than your whole house. For instance, an unused driveway could be a way to earn money, especially if you live in a busy city where parking options are hard to come by or expensive.

Alternatively, do you have storage space in your home that could be rented out? Renting out an empty loft or attic to someone in need of space could be a great option if you’re looking for a passive income stream.

Participate in a House Swap

When it comes to having more money, it’s important to consider ways to save money as well as make money. A house swap can offer the perfect way to save money when booking a holiday. Platforms like Home Exchange offer home swap options all around the world which can avoid the need to book a hotel when travelling abroad.

In return, you’ll need to allow someone to use your home for the exact same purposes. House swaps are becoming increasingly popular with thrifty travellers who want to explore the world on a budget. It’s also a great way to explore a new place from the perspective of a local as opposed to the tourist perspective that you’d get when staying in a hotel. 

Start a Work-from-Home Business

Another option that’s becoming increasingly popular is to turn your home into a workplace. While work-from-home jobs have become the norm, it’s work-from-home businesses where there is money to be made. There are two ways to approach a WFH business: the first is starting a side hustle while the more adventurous option would be starting a full-time business.

WFH side hustle

A side hustle is a great way to earn extra money alongside another job. It’s a great option for those who don’t want to lose the security of a full-time job with a stable monthly income. Examples of side hustles that can be undertaken from the comfort of your own home include virtual assistant jobs, online tutoring or digital marketing tasks such as social media content creation.

WFH full-time jobs

Full-time jobs offer more earning potential than most side hustles, but they generally come with extra risk. Fortunately, the majority of businesses can be run from a home office today thanks to advancements in technology. 

The most important thing to consider is the product or service you are offering. You’ll need to ensure it is something you are passionate about otherwise you risk not being happy in your new role as an entrepreneur. Alternatively, consider what skills you have. If you are handy when it comes to making certain items, such as candles and ornaments, you could be well suited to starting an e-commerce brand selling homeware gifts online.