New to Real Estate · Omaha, NE · Member since 2020 · 45 posts · 21 votes
Within the end of this year, I plan on house hacking my first primary residence home. Should I furnish the entire house myself, or should I tell my roommates to furnish their own bedrooms? Pretty simple question but has been bugging me for a while.
Actually this is pretty interesting, even if a simple question.
They may already have items to bring with them number one, but if they don't, I would be sure to do as you personally desired to do.
If you desire a more 'streamlined' look and want everything to match well, then you could choose to furnish these bedrooms- but market accordingly as 'furnished' - you would pay more for a furnished apartment than an unfurnished apartment, so this shouldn't be any different in terms of ($).
That's really as simple as the objective added value of what you furnish - looking at area apartments for rent, both furnished and not would tell you what these items are valued at in your local market.
Depending on how heavy the renter pool is in your area, it may or may not be an incentive or deterrent to a tenant. i.e. I could rent this for $800/month without it being furnished or I can rent here for $930/month totally furnished- it's going to go either of these ways - "great I've got furniture already and this is cheaper so I'll go with this one" or "well it's a little bit more, but I don't need to mess with buying my own stuff because it's already furnished" (assuming all other things such as SqFt, location, etc were comparable of course)
I would say not necessary, but make sure to not short change yourself if you do furnish it and adjust with added value comps accordingly.
Actually this is pretty interesting, even if a simple question.
They may already have items to bring with them number one, but if they don't, I would be sure to do as you personally desired to do.
If you desire a more 'streamlined' look and want everything to match well, then you could choose to furnish these bedrooms- but market accordingly as 'furnished' - you would pay more for a furnished apartment than an unfurnished apartment, so this shouldn't be any different in terms of ($).
That's really as simple as the objective added value of what you furnish - looking at area apartments for rent, both furnished and not would tell you what these items are valued at in your local market.
Depending on how heavy the renter pool is in your area, it may or may not be an incentive or deterrent to a tenant. i.e. I could rent this for $800/month without it being furnished or I can rent here for $930/month totally furnished- it's going to go either of these ways - "great I've got furniture already and this is cheaper so I'll go with this one" or "well it's a little bit more, but I don't need to mess with buying my own stuff because it's already furnished" (assuming all other things such as SqFt, location, etc were comparable of course)
I would say not necessary, but make sure to not short change yourself if you do furnish it and adjust with added value comps accordingly.
Investor · Austin, TX · Member since 2017 · 352 posts · 374 votes
5y
Furnish all common areas and "rough furnish" the bedrooms with a dresser, night stand, bed and mattress (wrapped in a mattress cover of course).
The tenant pool who leases a room in a house is usually transient and moving in quickly. Your unique selling proposition by offering rooms for rent is the ease and flexibility of moving in. Fully deliver on that. If a tenant can move in with their suitcase and fully furnish the rest of their room on a single target run then you will appeal to a wide pool of tenants looking for exactly what you're offering.
Short answer: rough furnish the bedrooms, fully furnish the living spaces.
-one last note, don't go crazy getting pots/ pans/ cups/ kitchen utensils etc... provide the initial items you might find in an airbnb and call it good. Roommate style housing collects these items like a magnet and before long you'll have 12 toasters and no cabinet space.
Real Estate Agent · Portland, OR · Member since 2021 · 6 posts · 4 votes
5y
I’d personally go unfurnished. As someone who has moved apartments a few times I look for places where I can add my own touch opposed to living with someone else’s style. Like Anna covered, if you are going to have to purchase furniture make sure that renting the room furnished will offset the investment to furnish that room. If you don’t know your future roommates level of care for furniture, don’t buy anything you won’t want getting a mug stain, dent, scratch, or stain on. If they move out how will the way they treated the furniture impact the marketability of that room in the future?
New to Real Estate · Omaha, NE · Member since 2020 · 45 posts · 21 votes
5y
@Victor Steffen Awesome advice! I think the rough furnish in the bedrooms and full furnish in living space is what I'll go with. The room will be move in ready which will attract a great pool of tenants and they can furnish their room simply like a target run. Thanks Victor! I'm excited I'll be sure to update how it goes be sure to follow!
New to Real Estate · Omaha, NE · Member since 2020 · 45 posts · 21 votes
5y
@Anna Laud so true! Thanks for the excellent tips I'll be sure to research my market. I'll find out what is most successful within my local REIA and what strategies work best with my market.