Personal Finance News

News archive

News

15/09/2011 15:12:19

Expert advises setting up B&B to make money from home

There are a number of ways that people can use their home to earn themselves money and give their personal finances a boost, according to the Telegraph's Christopher Middleton.

Mr Middleton suggested that one way to make money from a property is to turn it into a Bed and Breakfast (B&B), although he has warned that this is "not for the faint-hearted".

He said: "The best preparation for b&b wannabes is the book Start and Run a Bed & Breakfast by David and Louise Watson. He's the chief executive of the Bed & Breakfast Association."

Alternatively, Mr Middleton has suggested that installing solar panels, putting up a wind turbine or installing a hydroelectric scheme are all ways to generate electricity.

Not only can this help to cut household bills, it also means that homeowners can sell the surplus supply onto an electricity supplier.

Landlordzone.co.uk reports that running a successful b&b can help people to minimise their expenses as they do not have to travel to work.