To ask if anyone has any ideas how to make money from a large property

[Beyondourmeans]

Don't want this to be a 'my diamond shoes are too tight' kind of problem. But we are struggling as we live in a large property with high running costs, including an outdoor pool (here when we got here we never would have put one in).
Running costs for the house and pool are very high and that's without maintenance jobs/repairs/updating which we're not on top of so gradually it's all looking more unkempt.

I've thought of air b&b or a lodger but my husband isn't on board (would have to give up his 'music room') and we are a pretty messy and chaotic family so having someone here all the time like a lodger feels too intrusive.

We could fill in the pool - the kids would grumble a bit and we do have a couple of lovely parties per year but I'm not sure it would be that missed. Would it devalue the property though?

thought of offering the pool for swimming lessons but not sure how it would work with insurance etc and then it really would have to be spotlessly clean and chemicals always in perfect balance. It's also a bit heated but pretty chilly!

Does anyone know if you can hire out a room for daytime hire like for therapy or teaching? We do have a downstairs room with a separate door and bathroom next to it. (The aforementioned 'music room').

We have spare garden - does anyone know if you can rent out some like for an allotment? But then there's no shortage of allotments round here.

If anyone has any ideas I haven't thought of please share! Ultimately it may be best to move but want to see first if we can make it work.

I knew someone who hired her house out for photoshoots. I don't know how many they had per year, nor how much they made from it - but I gather it paid quite well!

I could look into it but I'm not sure it's special enough/well maintained enough!

You could brick the Pool up to reduce the running costs?
But why are your running costs high? What are your bills like? Could you start turning things off when not in use, only heating on when needed etc?
Renting on airbnb could work but yes your husband would have to be on board, but if money is tight then you do what you do.

My final piece of advice = downsize?

Oh sorry, meant to add, it wasn't for filming TV or films, but for a TV commercial or ads that you'd see in a magazine; so the people were only there for a few days - rather than, maybe, weeks on end for TV/films.

It would cost a fair bit upfront, but if you could put a plumbed and wired summer house in a private bit of the garden you could still do air bnb without having to have people in the house.

Whereabouts is the pool in the garden? You could offer private use of it to guests in the evenings as a selling point.

Instead of filling in the pool can you drain it and then ignore it for years!!

Not the classiest suggestion perhaps...

Ooh I like the idea of a private little house in the garden.

You have already thought of everything but dismissed those ideas because you or your dh don't want to lose a room, have strangers in the house or tidy up.

I think anything you do will require some compromise or effort tbh, even if that is just keeping the house tidy.

If it was easy to make money from your own main property without any inconvenience at all, everyone would be doing it.

Your most lucrative option is using the music room for a lodger, or b&b. Doubt you will make much from letting someone make an allotment in your garden. Could you sell part of your garden for development, or to a neighbour?

Electric is about £250pm and hard to quantify but the pool will have a big impact on this as its heated and filtered overnight. We're on an economy 7 meter and always shop around for the best tariff.

Council tax is about 280pm.

We have no gas but are on oil. The price fluctuates but last year spent about 250 per month on average. Can't do much about that really, we aren't excessive with the heating or hot water.

Home insurance is also pretty high but my husband is resistant to shopping around because we've hit a good policy and they've been v good with thefts of garden machinery we've had.

I think this year I will try and put a figure on how much the pool costs us and count how many days it gets used.

As the music room has a separate entrance, and loo, it is the obvious bit of your house to use for extra cash (sorry DH!) I would:

1. Use it for an Air BnB - have a look at prices in your area.If there are any sports events/festivals etc close by, you could do really well. we're close to Goodwood, and the prices being asked when there's Glorious Goodwood etc on are amazing! You can control the available dates - you aren't obliged to have an endless stream of guests.

2. Foreign language students. I've linked a randomly picked Language School, just to demonstrate - I don't know this company (there are lots)

www.lingoo.com/en/become-host-family

My friend does this in her less than pristine 4 bed/3 floor house, complete with cats and her own children. The students live as family members for anything from 1 week to several. Most seem lovely. They want to be in an ordinary household, as it helps their language skills. She makes a decent amount from it.

I agree about the ridiculous music room (tho to be fair he is a semi professional musician playing a loud instrument so it's handy to have somewhere he can play without us hearing it) but I think it's a luxury.
Maybe I have to give an ultimatum about moving.

Yes language students, forgot about that! Did it once when not working and couldn't manage it with work but maybe if there were any running during school hols when I don't work

Plus the mortgage of course - about £650pm

£500 pm on oil and electric is a ridiculous amount. Sounds like you have a house which you can't afford .. why not just cut your losses and sell?

Sorry OP but I would move. Your home sounds extortionately expensive to run.

What is your money gap that you need to fill? Are you unable to meet basic outgoings by several hund reds, just about breaking even but no money for extras?

Agree I would sell.

If not possible then language students are the best option.

Could your Dhabi busk at weekends? Lots of practice that way?

If not again, what about offering a residential music course for a couple of weeks in the summer?

i think i would be having house valued and then work out list of requirements for the family..such as
x number of bedrooms, x number of bathrooms, size of garden, big or small kitchen, x number of living rooms, does anyone need a home office etc.
When you have worked out what is necessary you could look on rightmove or similar for houses in the area with these criteria and see whether moving is best option.
You could also see what these new houses are like energy wise/council tax wise etc.

my dp and i did this when trying to work through selling potentially three properties, buying a blended family home and a city crash pad with teenages all over the country etc etc and it actually worked really well

It does doesn't it
I've trusted my dh to deal with finances for years but recently sat down and looked at everything.
Both of us are further into our overdraft each money before payday.
I earn 1000pm after tax then spend about half of that on childcare.
So I work very hard for 500pm after childcare which doesn't even cover our utilities.
Dh earns a lot more than me but about half what he was when we bought this house.

Have to say your council tax is a quarter of mine!

Is there any option to convert the pool /house to solar power?

He's not on the same page as me unfortunately (in many ways!)
Thinks it will just be ok and he'll start earning more at some point.

Ah - so will your childcare costs drop, and when?

Your DH has to accept downsizing, or maximising income via the house and/or separate music room. It's that simple. I would like a room just for me, I can't have that luxury.

It's a nice idea to build extra accommodation in the garden, but that need £££ and possibly PP.
If you spend this weekend tidying up the music room, and get any furniture you need (ebay is brill), you could be earning very soon. Show DH this!

www.airbnb.co.uk/rooms/17622769?location=Hampshire%2C%20England&adults=1&children=0&infants=0&check_in=2018-05-26&check_out=2018-05-27&s=-V54VFca

www.airbnb.co.uk/rooms/15102561?location=Hampshire%2C%20England&adults=1&children=0&infants=0&check_in=2018-05-26&check_out=2018-05-27&s=-V54VFca

Your husband lives in denial. You both need to sit down and make tough decisions.
If he plays loud instrument in his music room you can’t rent out your rooms.

@annandale where do you pay 4x£280 council tax pm?

A lodger would cover your electric and council tax bills. You already have a room with shower and toilet. Put a butler’s bar in for food and drink and you are good to go. I would be very selective and get references first. I don’t know if rental agency deals with this sort of thing. How about dividing up your grounds for allotments or people without a garden. Again seek advice but could be profitable. Or boot sale, farmers market depending on how big it is.

I would move. You’ll end up hating/resenting the place.

Maybe get it valued?

£650 is cheap for your mortgage so I’m assuming you have a lot of equity and could probably buy outright elsewhere