How Much Does It Cost to Furnish a House: A Real Estate Investor’s Guide

Unlock the secrets of real estate expenses and dive into our guide on how much does it cost to furnish a house.

Table of Contents

1. Budgeting for Furnishing
2. Room-by-Room Breakdown
3. Smart Shopping Strategies for Real Estate Investors
4. Maintenance and Longevity 

In the world of real estate investment, the question lingering on the minds of wise investors is undoubtedly, “How much does it cost to furnish a house?” 

To be fair, investing in real estate involves more than just acquiring properties; it includes transforming some blank space into a home. One of the primary goals for real estate investors is to optimize their return on investment, and strategic furnishing plays a vital role in this goal.

Why? Investing in beautiful furnishings can potentially elevate your property’s rental value, yet the challenge lies in striking a balance that aligns with the market and your target demographic.

So, considering how much it costs to furnish a house is not just a short-term budgeting move; it’s a strategic one. 

In the next few sections of this comprehensive guide, we will dig deep into the aspects of real estate furnishing for your investment property, exploring specific cost considerations, industry trends, and actionable insights for investors seeking to optimize the value of their property portfolios.

Budgeting for Furnishing

As mentioned, budgeting for furnishings isn’t a one-size-fits-all thing; it’s a detailed process influenced by various factors. 

So, from the property’s location and market demand to the investor’s overall budget constraints, each element plays a role in determining the financial allocation for furnishings. 

Does a higher budget necessarily transform into better returns, or can strategic spending yield comparable results? How hard is it to find budget-friendly furniture for rental properties?

Establishing Your Furnishing Budget

When establishing your furnishing budget, location, market demands, and the ever-elusive “vibe” of the place all play a part. 

Are you in a posh neighborhood where people sip their coffee with a pinky up? 

Or are you catering to a more laid-back, beachy crowd who prefer sandy toes over fancy decor? The said factors truly influence your budget decisions when it comes to rental demand. So, don’t just throw money at furniture; strategically toss it.

Balancing your budget means not going bankrupt for the sake of the aesthetics of your Airbnb business. It’s about finding that sweet spot—a.k.a. durable furniture for rental homes—where your property looks like a million bucks without costing those million bucks.

Sure, that ‘Build-it-Yourself’ furniture might seem like a steal, but will it withstand the trials and tribulations of tenant life? 

Here’s a secret: 

Balancing the cost and quality of your first rental property is the real key to successful budgeting. 

You want furniture that doesn’t crumble at the sight of spilled coffee but doesn’t leave you eating noodles for a month.

Consider this: a slightly pricier but durable sofa may save you from the nightmare of replacing it every six months. It’s like that saying about the cheap umbrella that flips inside out at the slightest breeze (which happens to the best of us). 

So, it’s not about going all-in on a crystal chandelier or skimping on essentials. It’s about creating a space that resonates with your target market and stands the test of time.

Budget-Friendly Furnishing Options

Are you skeptical about the durability of that discounted couch? Fair enough.

But here’s the deal—not all bargains are made equal. While exploring budget-friendly options, keep an eye out for hidden treasures that not only look great but can withstand the trials and tribulations of everyday living. 

It’s like finding the love of your life in a discount store: rare but oh-so-possible.

So, smart shopping for real estate furnishings involves more than just clicking “Add to Cart.” 

First, you should consider multifunctional furniture. Try to negotiate like a pro, explore bulk purchase options, and when in doubt, opt for timeless designs that age like fine wine.

Now, let’s address the elephant in the room: DIY furnishing for real estate investors. Yes, it’s a thing. Ever considered upcycling? 

Transforming that worn-out dresser into a chic statement piece not only adds a personal touch but also saves you a few bucks (or sometimes a lot of money). It’s like giving your furniture a second chance at stardom.

So, to be fair, maximizing property value through furnishings isn’t just about pinching pennies; it’s an excellent savings strategy. 

Remember: your Airbnb investment should look like a million bucks without requiring you to break the bank!

High-End Furnishing Strategies

High-end interior design for real estate investors isn’t just about tossing in a few gold accents; it’s also a good strategic move with the discerning tastes of the elite.

First, you should consider the location of the rental you are looking to furnish. Is it nestled in a neighborhood where caviar is casual and marble is a must? 

If yes, then your furnishing strategy needs to be on par with the expectations of those with a penchant for the finer things in life.

But does pouring money into high-end furnishings guarantee a surge in property value? It’s a riddle.

While rich interiors can undoubtedly elevate the perceived value of a property, the key is finding the sweet spot. After all, you wouldn’t want your investment to look like a museum that charges admission, right?

Investing in upscale furniture and design elements is not just about picking the priciest chandelier in the store. It’s about making choices that scream sophistication without causing your bank account to whimper. 

Here’s a scratch of real estate furnishing tips.

You should consider pieces that are not just a feast for the eyes but also possess that elusive quality—timelessness.

But here’s the twist: don’t just stick with brand names because of popularity. Go for the ones that are known to be sturdy. And sometimes, lesser-known designers or even vintage finds can bring an element of uniqueness that sets your property apart at a lower price.

Also, it’s about finding the balance between showcasing elegance and ensuring that your investment doesn’t end up being a grand but empty shell.

How Much Does It Cost to Furnish a House: Room-by-Room Breakdown

Alright, let’s cut to the chase and decode the cryptic world of room furnishings! 

“How much money to furnish short-term rentals?” you may wonder. 

Living Room

First things first, the living room isn’t just a room; it’s the heart of both relaxation and socialization. This statement alone calls for long-term investment in home furnishings.

We need you to picture this: you need a sofa. You can go budget-friendly and snag one for around $1,000 or dive into the lap of luxury with a high-end piece costing you a princely sum of $4,000 or more. 

But quick question: will you earn 10 times the cost of the sofa in rental revenue within a year?

Now, decor—throw pillows, art, and a rug that ties the room together. You could thrift your way to fabulousness for a few hundred bucks or go high-end and spend upwards of $2,000. 

But here’s a thought: can your guests really tell the difference between an inexpensive Picasso knock-off and the gallery-purchased masterpiece?

On average, furnishing a living room in 2024 might set you back around $6,000 if you’re playing it cool with budget-friendly options. 

But, and this is a big but, if you’re chasing the epitome of high-end interior design, you could easily be splurging upwards of $15,000. And that’s a down payment on a small house in some places.

Ah, but we haven’t even touched the entertainment system yet. A decent setup with a big screen, surround sound, and a streaming device can cost you a modest $2,000. 

But, if you’re gunning for that state-of-the-art, everything-synced-together, movie-theater-in-your-living-room extravaganza, you might be dishing out closer to $8,000.

Kitchen and Dining Area

Next on your Airbnb investment property checklist are the kitchen and dining area.

In these parts of the house, the star-studded cast includes appliances, dining sets, and those quirky kitchen essentials you never knew you needed. 

Budget-friendly options may be around the $5,000 mark, while high-end, top-of-the-line models can send you on a culinary quest costing upwards of $12,000. 

But be honest: Will the priciest blender keep your rental fully booked?

Now, dining sets—the roundtable of family gatherings and dinner parties. 

A decent one can set you back around $1,500, but if you’re envisioning a throne-worthy, high-end dining experience, you might be savoring that investment at a lavish $5,000.

So, on average, furnishing a kitchen and dining area in 2024 might demand around $15,000 for a mid-range approach. 

But, if you’re leaning towards the high-end, Michelin-starred experience, you can be looking at a cool $30,000.

Bedrooms

First, let’s talk about the triple threat: bedding, furniture, and decor. A budget-friendly one might run you around $1,500, but if you’re vying for the royal treatment, a high-end sleeping haven could set you back $5,000 or even more. 

But here’s the kicker: a more expensive bed does not guarantee a more restful sleep.

Now, let’s get into the nightstands, dresser, and wardrobe.

Budget-friendly options may hover around $2,000, but if you’re eyeing that high-end designer collection, you could be in for a princely sum of $8,000. 

But will a pricier dresser magically give you 5-star reviews on Airbnb? Unfortunately, no.

DIY headboards, inexpensive furniture gems, and smart decor choices can transform the bedroom into a dreamy escape without breaking the bank. 

Here’s the plot twist: does that DIY headboard outshine its high-end counterpart?

In the dazzling world of real estate, the average cost to furnish a bedroom in 2024 might hover around $8,000 for a mid-range setup. However, if your dreams are as extravagant as your taste, you could find yourself splurging closer to $15,000 or beyond. 

So, does a higher cost equal a more enchanting dreamland for you? It’s up to you how much you will spend, but don’t try to decorate your bedroom with a smaller budget than $8,000. 

It’s 2024, and everything is expensive.

Bathrooms

Let’s start with the essentials—fixtures, accessories, and storage solutions! 

So, the toilet can range from a humble $200 to a spa-like $1,500. Now, fixtures: faucets, showerheads, and the ever-elegant bathtub. 

Budget-friendly options might sprinkle around $800, while high-end choices could make a splash at $3,000 or more.

Basically, a full-on bathroom renovation could have you swimming in bills, with costs ranging from $8,000 to $15,000 or beyond. On the other hand, cosmetic upgrades like a fresh coat of paint and new accessories might be up to $2,000 to $3,000. 

In the world of real estate in 2024, the average cost to furnish a bathroom might be around $5,000 for a mid-range experience. 

But, if your bathroom dreams are grander than a spa weekend, you might be venturing into the $10,000 mark.

Additional Spaces (Office, Outdoor, etc.)

Let’s talk about those charming oddballs—the office, the outdoor oasis, and everything else that falls under the category. 

Creating a home office might set you back anywhere from $1,500 to $5,000, depending on your tech cravings and ergonomic aspirations. 

If you’re gearing up for a family-friendly rental property business, that outdoor space can be a playground waiting to happen. So, budgeting for kid-friendly features may tap into an additional $3,000.

The average cost to furnish your niche spaces might be somewhere between $5,000 and $10,000, depending on your whims and fancies. 

But let’s not lose sight of the bigger picture. After all, creating a unique and comfortable space is not just about the dollar signs; it’s about crafting an environment that resonates with the soul of the home.

Smart Shopping Strategies for Real Estate Investors

Here are two smart shopping strategies for real investors buying a rental property and furnishing:

Strategic Furnishing Purchases

Let’s be clear: negotiating bulk deals isn’t just for Wall Street boys. In the matter of furnishing a house, it’s a game-changer. 

First, you should build relationships with suppliers and become their favorite customer. 

It’s not just about the size of your order; it’s about the value you bring as a repeat buyer. Some customers wonder, “Is it really a deal if the quality is compromised?” That’s a great point, but bulk deals should be a win-win, not a win-lose.

Recognizing your commitment to future business, the supplier shaves off 15%. Negotiation success is right in front of you! 

You just saved enough for a fancy coffee machine in the communal area. 

Also, timing is everything. If your property doesn’t need a new dining set, resist the allure of a 

“limited-time offer.” Stick to your checklist, be discerning, and snag quality furnishings during sales.

DIY and Upcycling in Real Estate Furnishing

Now, we’re talking about getting dirty, unleashing your inner DIY maestro, and turning that dull and black space in your house into a canvas of creative brilliance.

Ever thought about giving that old, worn-out dresser a second chance at glory? 

Well, DIY and upcycling in real estate furnishing tips is not just a money-saver; it’s also a chance to give new life to your old stuff—just like that worn-out dresser that’s been waiting for you in a hallway.

Now, picture this: 

You find a catch of a coffee table at a thrift store, but it’s seen better days. Instead of shelling out big bucks for a new one, why not embrace your inner handyman? 

Sand it, paint it, add a touch of personal flair, and voila! You’ve just turned someone else’s trash into a trendy centerpiece. Balancing DIY efforts with professional quality is the key.

Sure, we’re all for embracing the handmade vibe, but there’s an art to striking the right balance. 

Don’t get it twisted, though—DIY doesn’t mean sacrificing quality. Imagine homemade curtains that look more like abstract art than window coverings. Let’s not go there. 

So, the goal is to add your unique touch without turning your property into a disaster zone. Before you go all “Property Picasso” on your furnishings, take a moment to rethink that decision. 

Do you really need that sledgehammer to repurpose that vintage wardrobe? DIY is fantastic, but not at the cost of turning your property into a renovation battleground. Strategic, thoughtful upgrades win the game.

Remember, sometimes it’s not just about saving money but crafting success with that brush.

How Much Does It Cost to Furnish a House: Maintenance and Longevity

It’s not just about filling your spaces; it’s about making choices that resonate through time. 

Let us help you with that!

Investing in Durable Furnishings

Ever considered furniture as more than just a one-time expense? Think of it as an investment that pays dividends over the years. When it comes to real estate, longevity is the name of the game.

Try to picture this: A durable sofa that withstands tenant turnover, boisterous game nights, and countless movie marathons without losing its charm. That’s the kind of return on investment we’re talking about.

But do you really need that designer lamp that costs a small fortune? Well, here’s the thing: it might seem like a splurge now, but quality lasts longer than regret.

Investing upfront in durable furnishings shields you from the pitfalls of frequent replacements, turning your expenses into a strategic move for long-term gain.

Now, let’s talk about materials and brands, which are the unsung heroes of the furniture world.

So, identifying durable materials is really the game-changer. Hardwoods, stainless steel, and top-tier upholstery fabrics are not just buzzwords; they’re the secret to furniture that withstands the test of time.

Also, choosing reputable brands is your main goal if you want good quality for your furniture.

Well-established brands didn’t earn their stripes overnight. They’ve weathered trends, survived fads, and emerged as dependable choices for those who value durability over fleeting glamour.

How Much Does It Cost to Furnish a House: Conclusion

Now that we’ve unraveled the mysteries of how much does it cost to furnish a house, it’s time to tie it all together.

So, we went through budgeting, explored furnishing options, navigated high-end strategies, peeked into room-by-room breakdowns, and smart shopping secrets.

One thing rings true in the real estate investment world: Balance is key. 

It’s not just about high-end glamor or penny-pinching strategies; it’s about crafting spaces that stand the test of time and market fluctuations. As we wrap up this real estate guide, remember that it’s not just about the strategies; it’s about using the right ones and creating the perfect rental.

For those looking to turn furnishing into a masterpiece, there’s a secret trick in this game—Mashvisor. 

Staying ahead in real estate is a walk in the park when you have the right partner. Imagine finding your next investment property in just a few minutes. That’s the magic of Mashvisor.

As mentioned, in the world of property investment, timing is everything. Let Mashvisor be your trusted companion as you compose the future of your real estate portfolio.

And remember, it’s not just about the square footage; it’s about the potential it holds.