If you have been struggling to make ends meet, fretting that you cannot keep up with your mortgage repayments and loosing sleep thinking about how to achieve a quick property sale then there may be one thing you can try before it comes to that.
Thousands of parents have seen their children fly the nest and leave for university this week and whilst many may be feeling that ‘Empty Nest Syndrome’ others are already thinking of ways they can cash in on the extra space they now have in their home, in the form of lodgings.
Of course, you would have to allow the room that was once occupied by your child to be available on weekends and during holidays but many lodgers these days are flexible and often only want to rent a room during the week whilst they are at work instead of commuting.
Another alternative is to use the room as a guest house, charging by the night rather than the month. You could receive even more money a night if you installed an en suite in the room, as people prefer not to have to share bathroom facilities where possible.
This idea may not appeal to everyone and receiving cash for the property may still be more of a desirable choice but it may be worth looking into the feasibility of sharing your house and earning some much needed extra cash. Offering breakfast and even tea could see even more money brought into the household, which could be much needed.