How to Maximise Return on Investment Using Design

The cost of furnishing a holiday let is something that can be contested and will vary from property to property.

As with most costs when it comes to holiday letting, there is a number of variables that will determine the number at the end of the bill. With that being said, there are a few things that you can do to help maximise your return on investment.

Nothing will help your guests enjoy your property more than ensuring it is furnished to a high standard. By doing this, you will give yourself the best possible chance to maximise bookings and in turn, revenue.

But before you jump into styling your holiday home, there are a few things you need to consider.

Plan Ahead

One of the biggest mistakes that property owners make is furnishing the property without a clear plan. This can lead to severely costly losses in not only your budget, but also your potential revenue.

So, before you jump into ordering furniture for your property, ensure you consider and plan your design style thoroughly, as well as considering the type of guest you want to attract.

Some of the most common errors that can occur without planning include:

• Purchasing excess furniture

• Struggling to find furnishing that is consistent to your chosen theme

• Changing the style of the design mid-way through the furnishing process

• Not checking dimensions, resulting in wasted space and potentially oversized/undersized furniture and even costly returns

With planning being the most crucial stage, you could benefit from getting a little helping hand. Utilising an interior design expert company like Styled®, you will receive a full design breakdown as well as professional guidance and services to help streamline your project and ensure it is executed with efficiency.

Their design services offer clients a full furnishing design and mood board, accompanied with a list showing the breakdown cost of furnishing items for each room, along with a floor plan showcasing the best possible layout for your space.

Design Style

The initial cost of furnishing your property may seem daunting, so ensuring you nail it first time round is key to maximising your return on investment in the long run.

Here are some of the case studies featuring the successes of designing your property with Styled®.

Case Study #1 - Abbey Nook, Whitby

Case Study #2 – The Old Brewery & The Annexe, Richmond

Case Study #3 – Toffee Crackle, Staithes

Above works completed by WOODSmith Construction Group

You should also consider your target audience when designing your property. Think about what they would expect from a property and how you can maximise their experience.

For a younger audience offering a more modern space with plenty of room to socialise is key. While catering to families, ensuring furniture is child-friendly and durable is key.

Embrace Your Area

The area that your property is located will ultimately play a huge factor in your guests stay at your property. Incorporating nods to local elements within your design is a great way to make your décor feel bespoke to the space.

For example, if your property is located in a rural area, you may want to embrace a more neutral colour palette and natural materials such as oak woods or pine.

In comparison, you may want to adopt a brighter and calmer colour palette for a property situated on the coast. Themed artwork and materials such as rattan, bamboo and cane when used cleverly within the space will add to the coastal feel of your property.

Gauge your area and local attractions to ensure that your holiday home fits the mood of what your guests are looking for.

Cost of Furniture

It’s no secret that furnishing your property can be costly, but that’s why it is so important to get it right first time. When it comes to the cost of furniture, there isn’t a one size fits all answer.

The ultimate cost of furniture completely depends on these key elements:

• Amount of furniture required

• Quality and/or brand of the furniture

• Any installation and waste costs

Knowing where to prioritise your budget and managing this effectively will also be a key factor in maximising your revenue. For example, larger pieces of furniture such as beds and sofas will likely take up larger portions of your budget, however investing a little more into these pieces initially will save you in the long run.

Rather than trying to find the cheapest option, which will likely need replacing after a few months, opt for better quality pieces that offer durability or in materials that can be easily cleaned or repaired. Whilst it might be slightly higher cost initially, it will prevent more frequent repair or replacement costs that cheaper pieces may require – it will also ensure your property looks higher-end, and in turn should help you achieve a higher rental return.

If you’re looking for guidance on what to do with your budget, Styled® can help each of your rooms achieve their potential.

Sustainability

Investing in sustainable products should be another key part of your holiday let design. Linked with wellbeing, durability and quality, there is increasing demand from guests to make sure that their choice of holiday home offers some degree of sustainability.

It also plays a part in the motivation for a lot of people to remain within the country for their holidays instead of flying abroad, so paying close attention to these details can help your holiday home stand out from the crowd. Look to use suppliers who offer sustainable credibility’s, as well as using local suppliers where possible.

Often sustainable products are much more durable, as they are built to stand the test of time. Tapping back into our previous point above, this will also save you money in the long run as you’re less likely to have to make repeated purchases for the same items after being used by guests.

If you’re looking for sustainability and quality, Styled® is partnered with a range of quality suppliers to deliver the best result for your holiday home.

Visit their website for more information on their services: www.styledinteriordesign.co.uk