How to save money on interior design
A buy-to-let property is a prized asset, and every landlord’s aim will be to maximise returns and boost resale value.
Though you might not want to think about interior design, a few changes and alterations can go a long way to improving and enhancing the property, making it more appealing in the eyes of potential tenants and vendors, should you ever decide to sell.
Every landlord’s aim will also be to make the best impact through interior design for the minimum possible outlay. So, with this in mind, we thought it’d be handy to offer you some tips on how to save money on interior design. With these tips, you can enhance interior design for rental property without having to dig too deeply into your wallet.
The first thing to note is that you don’t always need to make drastic – or drastically expensive – changes to your buy-to-let property to make the interiors more appealing in the eyes of potential tenants. Most landlords, especially first-time landlords, will naturally look to spend as little as possible on interior design and furnishings, but this policy usually backfires and is a false economy. The aim should be to save where you can but invest in the things which matter.
Think of what you can realistically change per month in rent. You’ll then want to calculate how much to spend on interior design – try not to spend more than you can recoup in rent.
Here are a few tips on how to save money on interior design:
- Invest in good quality flooring. You may have to spend a little more initially, but you’ll spend less in the long-term, saving money. Don’t always think about the short-term savings – if you plan to let the property for a decent period of time then it makes sense to invest a little more where you know it will pay off. In high traffic areas, for example, make sure a durable flooring is installed.
- Redecorate but stick to a tight budget. You can always expect marks to appear on the walls or skirting boards, so you don’t need to invest a huge amount on the decorating. There’s no point in using wallpaper either, as this will usually work out more expensive – choose a neutral shade of Dulux.
- Make sure the property is mould and damp proof. If the property always remains free of mould and damp, then you won’t have to fork out for the cost of fixing such an issue, which can prove expensive. Mould and damp, if not dealt with right away, can cause extensive damage. Make sure preventative measures are in place.
- Buy second-hand furniture where possible. If you need to furnish the property, be creative with where you source things – look in charity shops or on eBay. Good quality second-hand furniture can usually be bought for a good price yet will probably last longer than any IKEA equivalent.
- Look for a more affordable substitute to any work you carry out. Can you purchase anything at trade price? Always look to get the best value, whatever you install in the property.
Our final tip? Call in a professional tradesperson when necessary. You might consider yourself a Jack-of-all-trades, and we commend you, but a professional job should remove the need to spend money later on to put things right.
Assetgrove’s service and our rent guarantee scheme takes away any stress or worry you may experience when letting a property. We can take care of everything if you want us to – including furnishing your property and refurbishing it. Contact us today.