Help! My cat won't let me work from home

The advantages of home working are clear.  I love the fact that working from home completely removes the cost and hassle of commuting.  I also relish the ability to work from the comfort of my own house.

There are also downsides of working from home.  I am guilty of raiding my fridge on a regular basis.  I am also prone to procrastination - whether it be doing the laundry or repeatedly checking out the BBC News website when I should be working.  However, these are not my main problems with home working.

My biggest challenge is with "Sid" my cat.

I have two cats - Manny and Sid.  I did not name them - honest! They were rescue cats.

Manny seems to understand that I need to work and leaves me to it.  But Sid (pictured) appears to be jealous of my computer and demands that I give him my undivided attention.  Sid will just not accept the fact that I need to work at home.

I shoo him away, but he just sees this as a challenge.  The obvious answer is to lock him outside.  But when I do this, for the rest of the day he uses emotional blackmail to make me feel guilty.  I shall just need to be stronger.

I apologise for this week's short and rather silly blog.  I promise that I will be back to real House-Saver business next time when I will calculate the money that you can save by growing your own vegetables.

David
House-Saver

Renting out your Driveway

Renting out your driveway can be highly lucrative and is achievable with minimal hassle.

A number of parking space rental websites have popped up in recent years. These sites have made it hassle-free for homeowners to earn money from allowing others to park at your home.

Why should I rent out my parking space?

If you live close to a city centre or large town centre or near to facilities such as an airport, sports stadium or a tourist attraction, you may be sitting on a goldmine.  Parking spaces in prime locations can be worth well over £150 a month.

How do I rent out my parking space?

Specialist parking space rental websites operate rather like online dating agencies.  They work by putting people seeking to rent a space in touch with homeowners with parking spaces available in that area.

Most websites will charge for the privilege of hooking you up.  The majority of the specialist websites will take the payments and will then pay you (after skimming off a commission).  Non-specialist websites, like Gumtree, will leave it to you to collect payment from the person renting your space.

How much can I earn from my parking space?

Expect to achieve a rental income of around £7 a day if your home is within easy walking distance of the centre of one the UK's larger towns or cities.  If you are renting on a monthly basis expect to earn around £85 per month.  

£85 is the equivalent of £1,020 a year.  If you can accommodate two vehicles on your driveway that makes £2,020 a year!  That's a lot of money for little exertion on your part.

These figures will vary from city to city.  Northern cities such as Sheffield and Stoke will fetch around £5 per day.  Whereas renting out your driveway in southern cities such as Reading and Bristol will earn you around £8 a day.

Prices can be inflated by local factors, such as the number of commuters into the centre, the level of parking restrictions, and the parking prices at public car parks.  For example, homeowners on the edge of Hull City Centre can expect to earn upwards of £7 per day from their parking space due to the strict parking restrictions in place in and around the City Centre.

Which location commands the highest parking space rents?

That would be London.  No surprise there!  Typical rents are around £9 per day.  Or £116 a month if renting out on a monthly basis.

However, these figures hide some large variations.  Expect to make around £180 per month, or £15 per day, if you are lucky enough to own a parking space in Hammersmith & Fulham or Kensington & Chelsea.   Parking spaces in the Boroughs of Bexley and Havering on the other hand will fetch less than half that at £80 per month, or £6 per day.

Are any other areas popular for driveway renting?

Sports stadia and airport car parking spaces are in high demand.

If you own a property near to one the UK's largest airports, you can expect to earn around £6 a day, rising to £7 a day near Heathrow.

Is there a standard parking space size?

The specialist parking space rental websites are not too fussy about the size and dimensions of the parking space. However, your prospective tenant will be.  You may have to charge less for a space that is smaller than standard or which is difficult to park in.

Do I need a contract to rent out my driveway?

Yes, you should enter into a contract with your prospective tenant.  Most of the specialist websites have standard contracts that can be downloaded.

Do I need planning permission to rent out a parking space?

Some Councils require their residents to submit a planning application, along with a £385 fee, before they can rent out their driveway or garage. Although recent Government guidelines frown on this practice, which has been labelled a Council "driveway tax" by the Local Government Minister Eric Pickles MP.

Will I have to pay tax on my driveway parking earnings?

Yes.  The income on the rent you receive from your parking space is taxable.

What are the downsides to renting out my driveway?

The obvious downside is that the parking space needs to be made available to the tenant when they need it.

Your neighbours may take umbrage to you renting out your driveway.

You will need to check with your insurer as to whether renting out a parking space will impact on your buildings insurance, particularly if you are renting out your garage space.

Summary

If you have space to spare on your driveway, and live in the right location, this is an excellent way to make money from your home.   Using a specialist parking space rental website will make the process almost hassle free.

David

House-Saver

Renting out a room in your home

Rising house prices throughout much of the UK is creating an increased demand for rental accommodation.  Renting offers a lucrative money making opportunity for home owners with a spare room.

This Blog helps answer one of the most common questions that we get asked,

"how much can I expect to earn from renting out a room in my home?"  

How much can I expect to earn?
It depends. There are a number of factors that will affect the amount you will be able to earn.  By far the biggest factor is location.

The highest rents are in London, with the Borough of Westminster commanding the highest typical rents of around £186 per week.

The lowest rents are in Northern Ireland, with Coleraine (£51 per week) and Newtownards (£52 per week) providing amongst the lowest rents in the country.

A full list, showing the typical room rental prices in the UK's largest towns and cities, plus each of the London Boroughs, can be viewed at www.house-saver.co.uk/renting/

Which locations have the highest rents?
The London Boroughs top the charts.  The areas with the highest typical rents comprise:

1. Westminster:  £186 per week
2. Islington:  £159 per week
3. Kensington and Chelsea:  £157 per week
4. Hammersmith and Fulham:  £153 per week
5. Wandsworth:  £149 per week

Which locations have the lowest rents?
Northern Ireland dominates the bottom of the charts, with Huddersfield being the only location outside of Northern Ireland in the bottom 5.  The areas with the lowest typical rents comprise:

1. Coleraine:  £51 per week
2. Newtownards:  £52 per week
3. Huddersfield:  £53 per week
4. Ballymena:  £53 per week
5. Castlereagh:  £54 per week

I live in a nice area, will that make a difference?
Central locations and well-to-do areas in a town or city will command higher rents than less salubrious areas.

There can be a large difference in rents between areas in some of the UK's towns and cities.  For example a smart room in a prime area of St Albans will command a typical weekly rent of £145 per week, whereas rooms in less attractive areas of St Albans will fetch around £92 a week.

Which other factors will determine how much I can earn?
The size of the room is also a major factor.  Double rooms will command a higher rent than a single.

You can charge a premium if a room has an en suite bathroom or if you are willing to let a couple stay, or take in a pet.

Providing off street parking will also enable you to charge a higher rent.

Letting out your room on weekdays only, whilst enabling you to get your house back to yourself at weekends, will reduce your earnings.

Will I have to pay tax on my earnings?
Under the Government’s Rent a Room scheme, you can earn up to £4,250 through renting a room before paying tax.   The government will increase the level of Rent-a-Room relief from £4,250 to £7,500 from April
2016. For more information on the tax implications of renting out a room, visit www.gov.uk/rent-room-in-your-home.

Summary
Taking in a lodger is a tried and tested way of generating a significant income from your home.  Whilst rental earnings vary significantly from town to town, if you have a spare bedroom in your home you are unlikely to find a more lucrative way of bringing the room into use.

David
House-Saver

Help! My house is freezing!

"My heating bills are sky high but my home is still freezing!?"

If this is you, don't panic. The following Guide provides fail-safe directions for creating a cosy home this winter (whilst keeping a lid on your heating bills). The Guide does this in 4 easy to follow steps.


Step 1:  Good housekeeping practices
Gran knew what she was doing with her good housekeeping practices. Keep those doors closed.  Wear a pair of slippers around the home.  Try on that onesie you received as a Christmas present. Below is a reminder of a few other golden oldie tips:

1. Hang thick curtains during winter months, which should be opened during the day to naturally heat your home and closed at night to keep the heat inside.
2. Try not to obstruct your radiators - give the heat a chance to circulate
3. Whilst we are on radiators, fit foil on the wall behind them.
4. If you have a ceiling fan, set it to spin clockwise to blow the rising hot air down.
5. Lay mats or rugs down on cold floors.

The above tips are all low cost or no cost.  However, if you struggle with a cold home, these measures are unlikely to be sufficient to create a warm home for the winter.  On to Step 2.

Step 2:  Plug those Gaps













UK homes can be very draughty.  Before considering any expensive upgrades to your central heating system, consider the following measures to plug the gaps in your property.


Your walls
33% of the heat lost from our homes disappears through our walls.  Up until the 1920s the typical UK home was built to a solid wall construction.  If you live in an old property, installing insulation on your outside walls can drastically reduce the amount of heat lost from your home.

Since the 1920s cavity wall construction has been the standard. However, up until the 1990s, the gap between the two walls (the cavity) was rarely insulated. Filling this gap with insulation is a relatively inexpensive yet highly effective measure to reduce heat-loss from your home.

Your roof
26% of the heat lost from our homes disappears through the roof.  Bulking up your roof insulation to the full recommended depth of 270mm is easy to do and because hot air rises, properly insulating your loft will often be the single most cost-effective way to reduce heat loss from your home.

Your windows
18% of the heat lost from our homes disappears through our windows.  Replace single-glazed windows with double-glazing.  Already have double glazing?  Double-glazed windows will deteriorate over time.  Have your windows inspected.  They may benefit from draught proofing or they may need replacing.

You can expect a double-glazed window to last for around 20 years. After this length of time, the window may need replacing to keep those draughts at bay.

Feeling brash? Follow the Scandinavians and have triple glazed windows fitted.

Your floors
8% of the heat lost from our homes disappears through our floors. Insulate under the floorboards on your ground floor.  This will help keep the heat in and your toes warm.  Also, seal the gaps between your floors and skirting boards to further reduce draughts.

Your doors
3% of the heat lost from our homes disappears through our doors.  Consider draft proofing your doors.

The heat loss figures quoted above are courtesy of the Energy Saving Trust and are based on an un-insulated home

That's Step 2 complete.  If you have applied the above measures and your home is still cold, its time to consider your central heating system.  We do this at Step 3 below.

Step 3: Upgrade your central heating system
Typical central heating systems comprise a boiler and radiators. The boiler heats water which is then distributed through pipes to your radiators.  The problem with your central heating could be with your boiler, your radiators, or with both.  Have a suitably qualified plumber inspect your system.  Your central heating problem may just be down to your boiler needing a service.

Whilst you are examining your boiler make sure that your hot water tank and visible pipes between the tank and boiler have been insulated.  Also consider installing thermostatic radiator valves to control individual room temperatures.  This will prevent unnecessary heating of any rooms not being used.

My boiler needs replacing.  What are my options?  
The plumber's verdict is that your boiler is on its last legs - what now?  Whilst expensive, modern condensing boilers are much more energy efficient than older models.  If your old boiler is not doing the job, do not delay, have a new boiler installed.  Fitting a new boiler will save you money in the long run, and will ensure that you have a central heating system that has the capability to properly heat your home.

The most common boiler systems are powered by gas or oil. Gas being the more cost effective of the two. Feeling brave?  There are alternative boiler technologies out there, such as CHP (combined heat and power) boilers and biomass boilers. These, are well worth considering if you are currently relying on an expensive-to-run oil fueled boiler.

Paying for a new Boiler
A new boiler, whilst saving you money in the long run, will have a high upfront cost.  The Government's Green Deal scheme may help you to pay the upfront costs.

Step 4: Create your own energy
This is an optional Step for the really keen.  There are lots of technologies out there that can help you generate your own energy.

The type of central heating system you have will be a key factor in informing which energy generating technology you should go for.  Therefore, for optimum results, the installation of an energy generating technology is best carried out in tandem with an upgrade to your central heating system.












Your energy generation options include:

• Solar Panels (Solar PV and Solar Thermal)
• wind turbines
• ground source heat pumps
• air source heat pumps
• water source heat pumps
• hydroelectric systems
• wood burning stoves

The above energy generating technologies, especially wind turbines and hydroelectric systems, do not come cheap. Fortunately, the UK Government is investing a great deal of money into enabling householders to install renewable energy generating installations. So now is a good time to check out the potential financial assistance available.

If the above measures don't deliver a toasty home I don't know what will.  There is off course a 'Plan B' - hide under your duvet and wait until Spring. Not such a bad option in the dreadful weather that we've been having.

Warmest wishes

David

www.house-saver.co.uk