We all know that working from home is meant to be the apex of career achievement. There’s no need to worry about bothering with a commute, you can work in your pajamas, and you have no colleagues that you haven’t chosen for yourself.
In the vast majority of the scenarios in which people consider working from home, they tend to be thinking of an office space. Their house will otherwise be untouched; they will conduct all of their business from a dedicated room. This kind of setup works for millions of people, though it still has that feel of an office environment about it – even if it’s one where you can work with your cat cuddled up on your lap.
Of course, this isn’t the only way that you can work from home, even if it is the most popular. There are other, lesser talked of, options that focus on not just working from home, but your home being your work. While it might not be for everyone, it is possible to make a valuable property investment and grab yourself a new career at the same time. For example…
1. Running A Bed & Breakfast
Bed and breakfast – most commonly abbreviated to B&Bs – accommodation is a mainstay of the tourism industry. Not everyone can afford – or even wants! – the huge hotels that dominate the skyline, preferring to stay somewhere quirkier, smaller, and more intimate. A place that is a home away from home rather than a bare hotel room.
Most B&B owners tend to live in the same property as the rooms that they rent out. Sometimes they will have entirely separate living quarters, though often they will be cooking the guest’s breakfast in the same kitchen that they prepare their own.
Setting up a B&B is relatively simple, if you compare it to a number of other business ventures you could be tempted by. First, you will need a good size of property that you can reasonably maintain to a high standard. You will need to ensure you have dealt with all the legislation that is required, such as fire safety and electrical checks. With that done, the rest is largely up to you.
It helps to buy in an area that’s well known for its tourism, as this guarantees you will have custom. You will need to be financially sensible; you will make more money during peak holiday times such as the summer, and need to ensure you can manage your finances to ensure that you have enough cash to last the winter. However, with a bit of application and an understanding of basic hospitality, it could be a winner for you.
It is rare for a farmer not to live on the land that they farm. This is often as much for practical reasons as anything else. If you’re a dairy farmer and one of your cows becomes sick in the night, you need to be on hand to call the vet – even if it is 2 a.m in the morning.
Farming provides a unique way of combining a property investment, a business investment, and giving you somewhere to live. It’s far simpler to look for an established farm than it is to start one from scratch, but if you have access to a patch of land, then it might be possible to go from the beginning.
There are many different forms of farming you could toy with the idea of, even away from the mainstay of agriculture. Horse farming can be incredibly pleasurable if you have a way with the equine species, though it’s wise to ensure you consult a horse farm buyer’s checklist before you throw yourself in at the deep end.
Alternatively, you could look into opening a farm shop, selling homegrown produce and caring for a variety of farmyard animals. Goats’ milk and quail eggs can be a nicely profitable business, and it can all be done from your back yard – it’ll just be that your back yard is a lot bigger than most!
3. Short-Term Rentals
Unless you have been living under a rock for the past couple of years, you’ll be familiar with AirBnB. To make a full-time profit from the site might sound impossible, but it can be done – if you have a little support.
If you live in an in-demand area, it’s more than feasible that renting your home out over the short term could become a fully-fledged career for you. Of course, you will need to ensure that you have somewhere to stay while a rental is ongoing, but this could be an ideal way of guaranteeing you spend more time with elderly relatives, or even travel for yourself.
Legislation is forthcoming throughout the world to crack down on some of the abuses of AirBnB – and similar sites – so you’re going to need to stay abreast of these changes. It could, however, be a good choice if you live in a desirable location and don’t mind leaving it every once in awhile.
4. Lodgers & Renters
Finally, there is the more long-term solution. Many people who consider the idea of a lodger do so unwillingly; it seems odd to consider sharing your living space with a stranger, especially on a long-term agreement. However, it can be profitable if you live in a major city. It’s perhaps not enough to live on in and of itself, though it might be if you are mortgage free. It’ll also put your spare room into use for once!
In most cases, you will need to supplement your income from your lodger. Don’t worry, though – your house has a few solutions in that department as well. You can rent out a section of your driveway, your garden can host parties, or even offer your house to television production companies for their use. If you have the right house, putting all of the above together could result in a tidy income for you.
Your house doesn’t just have to be your house. As the above ideas show, it can be your business and an investment for the future. So why not consider it the next time you’re looking for a way forward in life? It might just be perfect for you.