Is your rural home blessed with a barn? A barn conversion could allow you to make better use of this building. It could become an extra living space for yourself – or it could be a space to rent out to others for profit! Here are just a few ways in which you can use a barn conversion to generate extra income.
Making Money Out Of A Barn Conversion
Hire it out for events
Barns are becoming popular places for weddings and parties. Companies are even hosting business events in barns as a break from the standard conference room. A barn could even be turned into a hall to be used by clubs (this could be anything from ballet classes to dog training lessons). To make this space fit for this purpose, you may need to add some electricity and heating. It all depends on the size of the barn and the usage that you want to get out of it.
Rent it out as storage
You may be able to simply rent your barn out as storage space. You could rent it out to a car collector or to a hobbyist or someone’s who’s inherited lots of possessions and has nowhere to put them. The likes of this website allow you to advertise your space as a storage facility for people that need it. You may not even have to do much converting. Adding some security measures may be all you need. This is an excellent way a barn conversion can make you an extra income on your homestead.
Convert it into a home for tenants
It’s possible you may be able to use your barn conversion into an extra living space for a tenant to stay. This could allow you to make money through rent. Even a small barn could be turned into a bedsit or a single room for a lodger (the latter option would require you to share your kitchen and bathroom). Property management services such as this company could help to find tenants, screen them and ensure that rent is paid on time. It could also be worth hiring a solicitor to write up contracts and possibly an accountant if you’re making an income that’s taxable.
Convert it into a guesthouse for vacationers/ traveling professionals
Rather than renting it out permanently, you could rent it out for short stays as a guesthouse. This might involve adding a few more luxuries to make it more appealing to people traveling. There are booking sites that you can use to market your accommodation and screen guests. You could even provide breakfast and start your own b&b. Thus another great barn conversion.
Convert it into an office space for commercial use
You could even rent your converted barn out as an office to businesses. With everything moving online, businesses no longer need to operate from a central location and are looking for more remote offices with cheaper rent and nicer surroundings. Such a space would have to be converted to a decent level, but may not need all the modern conveniences that a residential property requires.
Making an income is important to most homesteaders and a barn conversion is a great way to start making money now. You know now of a few ways that a barn conversion can make an income for your homestead. Have you tried any of these on your homestead? Let me know in the comments below.