AIRBNB HELP! How much is too much?

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AIRBNB HELP! How much is too much?

Staci Ryan
Member since 2020 · 4 posts · 2 votes

My close friend is an interior designer and furnishes' AIRBNB's on the side. She said it'd be $15,700 to fully furnish it as an AIRBNB (that is not including the kitchen demo we are doing.) That seems high to me but honestly I'm a newbie at this. Any advice or numbers that you've spend on your AIRBNB would be greatly appreciated! 

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Rebecca Gaines
Rental Property Investor · Pensacola, FL · Member since 2020 · 9 posts · 9 votes
5y

I can't remember the podcast number or guest's name, but there was a podcast episode with a woman that focused on Airbnb. She mentioned furnishing with second hand items. I think as long as it looks nice, is clean, and comfortable, your guests will never know how much you spent on it.

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  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    5y

    @Staci Ryan. We would need to know how big the house is for starters. 15k seems reasonable for about 3500 sq ft

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    1Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y

    Fully furnished from zero, yes that sounds reasonable.

    2Reply
  • David Bergmann
    Property Manager · Columbia, SC · Member since 2017 · 121 posts · 163 votes
    5y

    I don't think that number is necessarily outrageous if you are furnishing a 3-4 bedroom place, getting input from a designer, and also she is doing the work of actually staging and getting it ready for pictures/guests.   But it will depend a lot on how the furnishings are being sourced and how high end she is going.  If you want to stick to a lower number, I would just be honest with her and ask her what you would have to sacrifice in order for that to work.

    2Reply
  • Nancy Bachety
    Rental Property Investor · North Fork, NY · Member since 2016 · 1k+ posts · 631 votes
    5y

    For a 3000 sq foot 4 Br house, that’s a great spend. Can be much higher with linens and kitchenware included.  Don’t know the size though, @Staci Ryan

    1Reply
  • Staci Ryan
    OP
    Member since 2020 · 4 posts · 2 votes
    5y

    Shoot! I thought I posted how big it was but clearly I didn't! 🙈 It's a 500 sq ft ADU.

    0Reply
  • Nancy Bachety
    Rental Property Investor · North Fork, NY · Member since 2016 · 1k+ posts · 631 votes
    5y

    That's too much. Get an itemized list of the essentials. You can buy brand new from a good furnishing store for less $. 500 sq feet? 

    0Reply
  • Staci Ryan
    OP
    Member since 2020 · 4 posts · 2 votes
    5y

    Thank you Nancy, David, John & Luke! My gut is telling me that number is too high for a 500 sq ft studio but then I read an article about AIRBNB's and it said the master bedroom alone should cost around 6k… so I thought maybe it's kinda reasonable?? 

    0Reply
  • Angelo Forzano
    Member since 2020 · 54 posts · 30 votes
    5y

    @Staci Ryan your Airbnb should be considered nothing more than a glorified hotel room! I'm assuming you're in a good tourist area that's why you're offering Airbnb? Your guests willl spend 75% of the day outside and the rest of the time sleeping in your apartment unless you're paying $14,000 for a built-in Murphy bed..it is a studio correct? you're overpaying. get yourself some good quality used furniture online..(Facebook marketplace) and use your imagination it's a studio rental.... Not your personal living space.

    1Reply
  • Jean H.
    Rental Property Investor · Miami, FL · Member since 2016 · 173 posts · 206 votes
    5y

    @Staci Ryan I have a designer fully furnish my Airbnbs and I pay around $12,000 for a 1000sf 2/1, and $8500 for a 650sf 1/1 and that's with fully furnished kitchens. Im not sure if your ADU has a kitchen.

    1Reply
  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    5y

    @Staci Ryan BAH! Way too much. Spend $1800 on wayfair and call it a day.

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    2Reply
  • Rebecca Gaines
    Rental Property Investor · Pensacola, FL · Member since 2020 · 9 posts · 9 votes
    5y

    I can't remember the podcast number or guest's name, but there was a podcast episode with a woman that focused on Airbnb. She mentioned furnishing with second hand items. I think as long as it looks nice, is clean, and comfortable, your guests will never know how much you spent on it.

    4Reply
  • Natasha Ostrem
    Realtor · MT · Member since 2019 · 5 posts · 5 votes
    5y

    @Staci Ryan

    I have 4 little one bedroom condos that I Airbnb. We don’t spend that much. Maybe half. You don’t need a designer, pick a “look” or “theme” and go shopping on Wayfair. You are only looking for a few pieces: king bed (if you can make it fit), bedside tables with lamps, a small table (if you don’t have a built in eating counter), a couch and a rug to tie it together. Curtains over windows, dishes in the kitchen, kettle on the stove, coffee maker and toaster.

    Decide on your theme before you remodel, it will determine your appliances, countertop and cabinets. I do it myself every time.

    0Reply
  • Scott K.
    Member since 2020 · 223 posts · 233 votes
    5y

    I own 3 large, 6 bedroom properties. Fully furnishing 4000 sqft, 3 bath, 6 bedrooms, is about $30,000. If you literally start with nothing, and use the cheapest (but still strong/pleasant looking) furniture from wayfair, and the cheapest items from amazon (amazon basics TP, PT, linens, etc.) Granted my homes are really nice and fleshed out, you could go cheaper, but truthfully it's a LOT of money to furnish a house. Some things you don't see coming - like you'll usually need 2-3 sets of linens, and things like just the curtains from walmart cost me $400.

    We've never used an interior decorator - waste of money in my opinion. I'd rather do a little research, browse online similar listings, and copy them. No guest ever thought 'oh wow this listing has the same comforters as the last one, guess I can't stay at either!' they simply want to stay somewhere that looks nice.

    0Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y

    Does that include the price of the house?  I can buy and furnish a 1200 square foot 3 bedroom house for under $11,000.  But my market is different than yours.  So are my tenants.

    2Reply
  • Kate Joy
    Rental Property Investor · Hobart, IN · Member since 2019 · 3 posts · 0 votes
    5y

    @Staci Ryan

    It seems a bit high for that small of a space; however, I’d ask what quality of furniture/finishings she is specifying. As someone who works as an interior designer myself (day job) there is a wide range of quality levels available and while you don’t want high end, you do want some level of durability and quality.

    Also, depending on your location and what you expect to rent for, you may need a “designer look” and better quality furnishings.

    You will definitely get better value shopping 2nd hand stores but that is a lot more time and if it’s not something you enjoy it may be worth paying your friend to do it for you.

    I would definitely recommend investing in a good quality mattress and sofa. These get the most use and will need to be replaced frequently if you purchase low quality. If the mattress is comfortable you’ll get repeat visitors.

    Good luck!

    0Reply
  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    5y

    @Staci Ryan we just did a 2 bed 1 bath house for around $7000 including a washer and dryer. That was all furnishing, technology items, linens, kitchen goods, etc. Everything was new accept the kitchen table.

    There was a guy on BP Facebook page that told me he furnished a million dollar house in Oregon with 5 bedrooms for $1000. He claimed anyone spending over $1000 for furnishing an AirBNB was doing it wrong. I am not saying I agree with him, but just pointing out people have different standards. 

    My fear on used beds and couches is bed bugs. Buying used is the number one way you bring bed bugs into a property. 

    @Luke Carl I was going to buy everything at Wayfair, but every item had a 6-8 week delivery when I went to check out. I assumed that was a COVID related issue, because lots of people recommend them and I can't believe people would wait two months. Even local furniture stores like Slumberland told me it would take 2+ months to get anything due to COVID. That was in September.  I am assuming you have had better experience with Wayfair?

    @Angelo Forzano hotel furniture is much more expensive and constructed to higher standards than residential furniture. It is designed to hold up to years of use in a commercial setting. I have only had our STR for about a month, but based on our security system door sensors, our guests are spending over 75% of their time inside the property. It is not what I expected and could be a location or COVID dependent behavior. We have had the conversation at the dinner table, "why aren't people leaving our property at all?" Maybe the beds and furniture are too nice, haha.

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    5y

    Hey @Staci Ryan, like most others here, I agree with that being waaaay to much. That is the way it goes with designers.

    We did our 3/3 with a kids bunkroom for under 20k. That was an empty place. I bought all USA made furniture from Craigslist, OfferUp and LetGo (now part of OfferUP). It was easy to find people updating their stuff and getting rid of their very nice stuff for amazingly cheap.

    All new mattresses, linens etc. You can PM me for more info on linens if you like.

    0Reply
  • Suzanne DiIorio
    Saratoga Springs, NY · Member since 2018 · 14 posts · 2 votes
    5y

    @Staci Ryan I do it all myself and buy almost all of it on FB marketplace previously used. I search for Pottery barn and restoration hardware and pier one and I have done very very well with furniture that looks brand new for a fraction of the cost. It’s a lot of work but I’ve spent less than a third of your price all in!

    0Reply
  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    5y
    Originally posted by @Rebecca Gaines:

    I can't remember the podcast number or guest's name, but there was a podcast episode with a woman that focused on Airbnb. She mentioned furnishing with second hand items. I think as long as it looks nice, is clean, and comfortable, your guests will never know how much you spent on it.

    I believe this was Zeona McIntyre, Episode 229. Avery Carl also spoke about short term rentals on Episode 364. 

    [email protected]Podcast Guest on Show #261
    BiggerPockets
    1Reply
  • Boris Mordkovich
    Investor · Member since 2019 · 59 posts · 150 votes
    5y

    @Staci Ryan 

    After having done a number of Airbnbs in the past, I'd say that a 4-bedroom / 2 bathroom house (around 2000 sq ft) will typically cost you around $14,000 to fully furnish from scratch. A smaller 500 sq ft ADU that you mentioned will be substantially less, of course.

    One thing to note, though, is that this year has been a bit strange. Most of the furniture retailers we typically use have been slowly increasing their prices, so the average cost to furnish now is, perhaps, around 15-20% higher than it'd be in a typical year. At least from our experience.

    0Reply
  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    5y

    @Staci Ryan

    No, max $4k.

    [email protected]614-363-2787
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  • Lynnette E.
    Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes
    5y
    Originally posted by @Paul Sandhu:

    Does that include the price of the house?  I can buy and furnish a 1200 square foot 3 bedroom house for under $11,000.  But my market is different than yours.  So are my tenants.

    Yeah, but your wall art is just centerfolds from the girlie magazines taped to the wall.... 

    0Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Lynnette E.:
    Originally posted by @Paul Sandhu:

    Does that include the price of the house?  I can buy and furnish a 1200 square foot 3 bedroom house for under $11,000.  But my market is different than yours.  So are my tenants.

    Yeah, but your wall art is just centerfolds from the girlie magazines taped to the wall.... 

     No magazines.  It's paintings you'd see in a French or Italian museum.  Have some class.

    0Reply
  • Jonathan R McLaughlin
    Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    @Staci Ryan I don’t think your friend wants this job :)

    Either that or she is planning to outfit the place in solid gold

    0Reply
  • Staci Ryan
    OP
    Member since 2020 · 4 posts · 2 votes
    5y

    Solid gold is kinda in right now! 😂 Everyone's comments were very, very helpful and I am going to tackle this project on my own for a 1/3 of the price! THANKS EVERYONE!!! 

    1Reply
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