Furnishing For Profit
In today’s highly competitive market, the furnishing of your investment property has become a very important part of the buy to let process. Over the past 20 years the market place has been flooded with new build apartments all competing for fewer tenants than there are properties available. How you furnish your property has now become crucial. There is no doubt that the better you furnish your property the more likely you are to get a tenant quickly and possibly at a higher rental. That does not mean to say you have to spend a fortune to achieve this.
New I.D Interiors advocates a fully furnished approach. This will mean not only providing the main items of furniture such as beds, sofas, tables and chairs but also additional items such as prints, mirrors, soft furnishings, curtains, blinds, kitchen and electrical items. We also recommend a small amount to be spent on accessories or dressing out, all designed to enhance the final look of the property. These accessories may only 10-15% of the total cost of furnishing, a small price to pay if the property is rented within a week of completion.
When furnishing your investment property, you have several options – option one is that you can go to all the main furniture and DIY retailers and purchase all the items individually. However this is time consuming and then you have either to transport the goods yourself or wait at the property for the retailer to deliver. Then you have to assemble all the items yourself and dispose of the packaging.
The other option is to enlist the help of a specialist interior design/furnishing company. You will receive specialist advice from expert designers who have furnished many properties before. Your final price will include furniture, curtains, blinds, wood floor, carpet and those all-important accessories. Most companies will deliver and install everything ready for the property to be occupied. In most cases it is unlikely to cost you anymore that option one
Finally always allow a budget for furnishing when purchasing a property even if you intend to sell it on, the market conditions may dictate that you have to retain the property and rent it out.
DO NOT FORGET PRESENTATION IS THE KEY
For more information visit us at www.new-id.co.uk or call us on 020 8200 5556