How much do I set aside to furnish a new STR?

Question

Hi all! I'm looking to purchase my first STR in Texas and am wondering how much I need to set aside for completely furnishing it?

Caleb Brown · Answer

Depends on the size but 10K is the minimum I see but it can be 20-30K+. You don't want to be a cheapskate when it comes to decor and having the right presentation.

James Carlson · Answer

Totally depends. I've seen $20k for a 4br vacation rental in Denver, and then I had a Colorado STR client that paid nearly $30k to furnish a tiny A-frame outside of Colorado Springs. (I'll tell you that the A-frame is grossing more than the 4br.)

In this competitive Airbnb world with revenues down, I see an outsized return for a really well-furnished short-term rental. Modern design -- preferably led by an interior designer -- plus great amenities like a hot tub, sauna, game room, etc.

Mike Grudzien · Answer

Well, gee whiz, that's kind of general and vague....Are you furnishing a 1 bed/1 bath, 650 sq ft?OR5 bed, 3.5 bath, 3500 sq ft?

Josh Ball · Answer

We just furnished a brand new 2 bedroom 1 bath unit for roughly $25,000. About $15,000 was the furniture itself, the remainder coming from misc. items, barstools, cooking goods, TVs, rugs, pictures, etc. Furniture itself was with Rooms To Go. They offer a 12 month interest free option that we took advantage of. So the furniture we pay roughly $1,000 a month for the first year out of our rental income & will have a chunk at the end to pay the balance in full.

Tyler Divin · Answer

$10-20 PSF is a good rule of thumb depending on how how high end you want to go.

Andrew Steffens · Answer

Congrats on your acquisition!

In FL I tell my clients to assume a high side estimate of $20/ft. That is with a designer and includes everything down to cups and spoons. I use it as a good rule of thumb.

Good luck!

Michael Baum · Answer

Hey @Christine Brown, so everyone has realistic numbers.

You can save a ton of dough by looking on Craigslist, FB Marketplace and OfferUP along with others for used USA made furniture.

You can get great stuff for pennies on the dollar or even free. We did almost all of our lakehouse with stuff from Craigslist/FB Marketplace and it still looks great after 8 years.

Joseph Sauer · Answer

Hi Christine, congrats on the new STR!

Cost to completely furnish can vary depending on who your trying to attract ( economy, mid, luxury). Im conservative and like to over estimate to make sure all the number really work, so I budget $10,000- $15,000 per BR count for the total cost. So a 3BR can range between $30k-$45k. You can obviously spend a lot less/more depending on where you buy from and the quality of the furniture. Hope this helps!

Patrick Osterling · Answer

Hey Christine, we just furnished a 3BD, 2.5BA 1550 SqFt upscale house for around $14,000 all in. My wife is a wizard at sourcing great furniture and decor that balances quality and price. We also used a 0% APR Chase credit card and paid it off with the cash flow so we were less out of pocket upfront. Hope this helps!

Christine Brown · Answer

Thank you all so much!

How much do I set aside to furnish a new STR?

How much do I set aside to furnish a new STR?

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