Splurge vs. Save
As a designer of STR Properties, these are the top 5 items to splurge vs save on
You’ve finally found the perfect investment property and now comes the daunting part for many real estate investors. Furnishing the home can be an overwhelming task not only due to the expenses involved, but also the endless choices available and the underlying importance of making sure you get it right. You’ll need durability, speed, and style, but is it possible to have it all? As a professional short-term rental furnisher, I’m going to share my list of items where it’s more important to spend a little extra for that durability and quality you need, and when you can source more wallet-friendly pieces while still getting what you need.
Where should I splurge?
Your sofa is one of the most important pieces of furniture in a short-term rental. Your guests will spend their time relaxing, socializing, and even napping in this area. It’s also a focal point for your listing pictures so you’ll need to make sure you cover your bases here. Spend a little bit more purchasing a sofa that’s going to hold its shape and look clean and crisp for years to come. Don’t be afraid of lighter colors, as long as the fabric is performance grade.
Bed frames are the number one item being replaced in a short-term rental. There are loads of low- cost solutions on retailer websites these days but consider how negative your guests experience might be if they are dealing with a broken bed upon arrival. Spend a bit more in this area and look for solid wood construction pieces. If available, look at the assembly instructions to see how the pieces are connecting and how many support elements are included. Also check the weight capacity of the product before purchasing.
Short-term rental guests are often choosing your property over a hotel because in-home meals are important to them. Make sure your property offers enough table seating as the unit accommodates. This also deters eating in places where food should not be, such as the sofa. Look for a table made from hardwoods, such as oak or maple so it can stand up to the challenge of water rings and food spills.
Weather poses a series challenge to the wear and tear of your outdoor space. Furnishings in this area need to be heavy weight and should be constructed of materials that resist rot and mildew. Unless you will be personally covering the patio furniture while not in use, you can count on it being exposed to rain, cold, wind, and direct sunlight. Stay away from wood and go for high-density poly construction instead.
When I come across a negative review, it often involves available items in the kitchen. Make sure you are taking the time to get everything needed in this space. Don’t assume that just because you rarely use an item that your guests will feel the same way. Spend the extra dollars for things like basters, zesters, and proper knives and it will be noticed.
Where should I save?
Don’t skip area rugs all together, but also don’t feel like you need to go high quality here. Rugs offer a color opportunity and bring warmth and comfort to your property. They will need replacing over time so look for budget-friendly polyester based, low-pile rugs.
You’ll need to make sure there are table lamps and floor lamps in your rooms which offer softness and dimension. No need to go expensive with these lamps, just make sure they are sized correctly for the tables they are accompanying.
Prepare yourself to replace towels and linens often. They will become stained and will disappear. Choose a low-cost cotton blend for your sheets and buy in bulk to get the best pricing.
Don’t forget about your windows! Guests require privacy and this is often the last thing anyone wants to think about when budgeting for the home. Curtains will add softness and color opportunities to your space, but no need to go custom or high end here. Store bought in standard sizing works well. Blinds cut to size from big box stores are also a low-cost way to check the box.
Finally, plates, glasses and flatware will need to be replaced regularly. Expect breakage and theft of these items. Ensure your plates are microwave safe and select a simple white option for a clean look. Flatware should be a somewhat sturdy metal. Other than that, go inexpensive here.
