Good question.
Let me ask you this: How much does a bag of groceries cost?
See what I mean? If I go to the schmancy market, it’s 300 bucks in the blink of an eye. If I go to the regular-people store a couple of miles away it’ll be more like $40. I shop at both because I like cheap limes and I like fancy cheese. Which makes the answer even more complicated.
The answer to how much it costs to furnish a vacation rental is…it depends.
I know, it’s an annoying answer. You’re going to hate this even more. It’s probably going to cost more than you think.
The thing about furnishing a vacation rental is that it happens all at once, and usually pretty quickly. It becomes overwhelming fast unless you know what to expect.
Consider bed linens. You might be thinking, sheets, comforter, $150, done. But did you remember that you need a mattress pad (washable), a waterproof cover (trust me, you need this), pillow covers, and a bed skirt? And that you need at least two sets of sheets per bed?
I’m not trying to scare you. I want to give you the tools you need to shop like a champ and avoid having a nervous breakdown in Target the day before your first guests show up.
I’ve yet to find a percentage formula that takes into account every factor, especially when you consider elusive things like the owner’s taste and how soon your first guests are arriving. But I do have a way to come up with a realistic budget.
How To Calculate Exactly How Much It Will Cost To Furnish Your Rental
Get The Vacation Rental Budget Workbook
We use this tool here in the studio for every project. Not only will it help you come up with costs, but it will also help you keep track of all the stuff that goes into furnishing a vacation rental.
Use it to make a budget or just as a checklist. It’s yours, do what you want!
Here’s a video where I show you the three ways you can use this tool.
The best way to use this is to start with a design plan so you know exactly what furniture you’ll buy, but you can use it to come up with a preliminary budget before you know all that.
Don’t worry if you’ve never used a spreadsheet. I’m giving you three different format options, including a PDF if you’d rather just print it out and use it as a shopping list. If you’re new to all this, I’d suggest starting with the Google Sheet version and watching the included videos for tips. The time you spend coming up with a realistic budget now will save you a whole lot of stress in the future, whether you’re just starting out or redecorating after years in the business.
