I have to admit, this is my most favorite step in the new listing process for our business, Evari Properties. A new listing begins with a beautiful blank canvas just waiting to be transformed into a cozy abode for new guests to create memories and feel safe and at home while traveling.
Purchasing furniture for an entire home though, can be a daunting task. But this is the chance for those who love shopping to shine!
Here's a big secret I will let you in on...
Our general budget for furnishing a typical 3 bedroom 2 bathroom home is $5k. There are a few tricks to making that happen without sacrificing style and quality. We have our list we work through and start our search with the most expensive items first like a dining table and living room furniture.
Here's how you can economically furnish your rental:
Educate yourself on what the going prices are for items bought new and what styles are currently being pushed. Find out what high quality furniture establishments are charging for a couch, dresser, nightstands, dining table etc. Browse Amazon, Home Goods, and Hobby Lobby to educate yourself on general prices for blankets, towels, and bedding and other things. If you already pretty keen on current retail prices, skip this step because it is mostly for price referencing for the next steps.
Browse for previously owned items (especially for the large ticket items like a couch, dining table and chairs, dressers, nightstands, bbq grill, etc.)
Facebook Marketplace is our #1 go-to for finding larger items that are quality and at a great price. There are a lot of people in our area moving around or moving away and are needing to sell their furniture that is still in excellent condition.
Offer Up is next on the list. This app is hit or miss for us in our area but we have snagged some good deals from it as well.
Shop the local secondhand or consignments stores, especially target the more "uppity" areas nearby where more expensive items may be offered at a great deal.
If you have one near you, check out Cort Funiture. There may be other stores out there like it but this place has been a huge saver for us! They rent furniture (which we do not recommend doing) and also sell pre-rented items (so basically previously owned) and they sell new furniture as well, but at bargain prices. I will say though. they could do a lot better on their wall art sales though...lately the art looks like it has been recycled from too many decades past.
3. Negotiate! When buying on Facebook Marketplace or Offer Up, Nick is the master of this art. Unless you know that the price they are asking for is already an excellent deal and want to lock it in, always negotiate the price. If they won't come down, ask if they deliver. Once you find an item you want and the seller agrees to a great deal, pick it up, or have it delivered as SOON as possible. Otherwise, they could just sell it off to someone else at a higher price or in a circumstance more convenient to them. We have had sellers sell items off to someone else even after they told us we had the deal. It is really frustrating. Hustle!
4. After you have done your best combing through and purchasing good quality, previously owned items, fill in the gaps by browsing sales.
Now for style and quality:
When buying previously owned items, unless it is a high quality solid wood sleek dresser that is timeless looking for example, only buy items that are as new as possible, especially couches. Purchasing a 1990's floral couch that belonged in your Grandmother's living room is not going to help you get bookings.
I will say, finding unique items that have character and personality are a definite YES.
And when buying a previously owned couch, do not buy it sight unseen. Always go see it first to check for any stains not shown in pictures or smells. This is a huge MUST. We had someone help us out searching for used items and they found a good deal on a couch and went and picked it up. Unfortunately it had really strong odors that needed to be removed. It was a lot of work, and a lot of baking soda and shampooing.
Why do we buy previously owned furniture? A lot of reasons!
It is economically responsible.
It is eco friendly.
Guests will be coming and going and the furniture will get used constantly anyway. When buy new, you are more likely to be more strict with your guests which can make their stay a little more tense feeling as less welcoming.
All that to say, we always purchase mattresses, bedding, and towels brand NEW (especially mattresses because the last thing you want is a bedbug infestation nightmare!) Things like bedding can get looking drab pretty fast so it is best to have it as pristine as possible at the start. Over time, you will need to replace towels and bedding with new ones to keep your ratings up and everything looking clean and fresh.
Buy items that are trending styles or up and coming and minimize any dated looking furniture. For the larger items, look for things that are timeless. Then you can update the look with modern throw pillows, blankets, and decor.
If you are wondering what to buy and what not to buy, check out this Article that I hope inspires you in the right direction.
For my fellow hosts out there, what other tips would you add to this? We would love to hear from you!
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