Brits hoping to earn money from home are most likely to set up an online business, buying and selling items on sites such as eBay and Gumtree.

That's according to research from GoCompare, which found that more than a third (37%) of us have attempted to earn extra cash from home.

The second most popular option for budding money-makers was taking in a lodger, while in a third it was the eco-friendly option of installing solar panels to cut bills and earn an income from the feed-in tariffs.

Making and selling crafts was next up, followed by the divisive option of hosting a product party, such as for Ann Summers or Pampered Chef.

Other options to earn extra cash included looking after other people's pets while they are away, and selling their pics to stock photo websites and image libraries.

Sadly, most who attempt to build a money-earner on the side have limited success, earning just £85 per month on average, according to GoCompare. An unfortunate one in ten said their ventures actually cost them more money than they made, while a fifth just broke even.

On average, they spent 4.6 hours a week working on their home-based money-making activities.

GoCompare spokesman Ben Wilson said the survey highlighted the importance of doing your research before getting started if you wanted to avoid wasting time - and money.

"There are many ways to generate an income from your home," he said.

"Whether you decide to rent out a room or try your luck as an eBay seller, it's important to take a bit of time to research the pros and cons of each scheme - looking at not only the potential returns, but the associated costs and other requirements.

"For example, if you run a business from home or make money from your land or property you'll need to declare this income to the tax man."

The findings were based on a survey of 2,000 UK adults and was released in conjunction with GoCompare's launch of an interactive guide to illustrate ways to make extra cash from your home.

The 10 most popular home-based, money-making ventures:

:: Buying and selling items online (e.g. eBay, Gumtree, Etsy) as a business (not just selling unwanted personal property);

:: Renting out a spare room to a lodger;

:: Installing solar panels to reduce energy bills/earn an income from feed-in tariffs or, through a "rent a roof" scheme;

:: Making and selling craft item;s

:: Hosting a product party (e.g. Ann Summers, Pampered Chef);

:: Looking after other people's pets while they are at work or on holiday;

:: Renting out a spare room to a tourist/short term guest (e.g. Airbnb);

:: Offering beauty treatments (e.g. nails, hairdressing);

:: Renting out a driveway, parking space or garage for parking;

:: Submitting photographs to stock photo websites (e.g. Shutterstock).