Frugal Staging & Design to Make You Money on Real Estate
Posted by M.S. on May 28, 2009
This morning I came across a very interesting article in the online edition of the New York Times called Design on a Shoestring. I am always searching for articles about decorating to maximize both the comfort and value of my home and investment properties, so this one caught my eye.
The article was about a couple that had completely redone a one bedroom apartment near London and featured a wonderful photo gallery of their great ideas. I was floored when I read they had spent over $10,300 — to re-do a 1,200-square-foot apartment! HOW MUCH??
That’s alot to spend on a 1,200 square foot property! I believe you can achieve the same results for much less money–and we have done it!
When we started buying investment properties 32 years ago, we realized very quickly that if we fixed up the interior and decorated it a bit–we could raise the rents and attract a better quality of tenant!
The amazing thing was- after we were finished living in this property–we were able to rent it FURNISHED for 2 years- and we received $200 more PER MONTH in rent than what we would have gotten for it unfurnished!
That’s almost $ 5,000 extra rent! What a great return on our investment!
Take a look at what elbow grease and almost ALL secondhand furniture and accessories created in this furnished townhome! You can use these ideas for a rental property or to stage your home to sell in this tough economy!
The least expensive and most effective method we found to accomplish that effect was with paint! You can create a warm and inviting mood with a soft neutral (not white) paint color.
Here we painted the living room a soft tan color.
In one bedroom, we used a greyish shade of green, which is also a soft neutral, to give us a fabulous warm romantic feel.
The fabulous custom made upholstered window treatment hanging over the bed was purchased at a Salvation Army store for $10! It matched perfectly!
In another bedroom, we used the same soft tan color that looks marvelous with the elegant duvet cover we bought at TJ Maxx. All the furniture, lamps, headboard, pictures etc in this room were purchased secondhand for practically NO money!
After our tenant of 2 years moved out, we decided to take everything out of the property and rent it unfurnished.
Because we have been so very blessed, we decided that rather than have a big sale and make some money–we gave away every single thing to a charity that donates to people that cannot even afford to buy their items at a Goodwill type store!
They sent a large empty truck and we filled it to the brim!
How cool is that–to be able to share the wealth? I still wonder who is sitting on those chairs now and sleeping in those beds!
M.S. said,
Thanks so much! I appreciate the kind words very much! Now if I can just find more hours in the day to do all the fun things I love to do–including blogging!
Is Reupholstering Frugal? - Page 2 - Wise Bread Forums said,
[...] Save Money & Make Money by Reupholstering You can save a ton of money by reupholstering items yourself or designing or buying easy slipcovers! People sell everything- dining room chairs, benches, headboards, couches, foutons etc. Get pieces with straight lines–those are the easiest to re-do or to sew a slipcover! I furnished an entire townhouse that way with items we found secondhand, mainly at places like Goodwill or garage sales, which is my personal favorite for fantastic deals! The real estate was then rented for $ 200 more per month because it was furnished! The tenants had a 2 year lease–that meant we made almost $ 5,000 in extra rent! You can do that too! Mary FrugaltoRich.com [...]
M.S. said,
Thanks Kelly!
I’m going to tell you all my tricks–so you can do this too! Have a great day!
M.S. said,
Thanks for the great feedback and kind words, Jane! I have so much more to share with you all!
M.S. said,
Hi-I have gotten lots of great feedback about these real estate posts. I have many many more ideas to share! Keep checking the posts!
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