When it comes to finding the right furniture pieces, home staging aspirants and professionals can obtain their required pieces either from furniture hire Melbourne companies or they would buy their own instead.
If you are planning to put up your own home staging firm, our best suggestion that you need to keep in mind before you kick start your business is to veer away from adding items to your inventory if you are seeing that it won’t be making any financial sense for your planned business.
The natural tendency of conservative investors like myself is to consider making significant investments only if we can see that there is going to be an honest to goodness, a reasonable return on investments or ROI. Even when you are just a startup company, building up your inventory gradually would be a much safer measure for you to take. One of the worst things that you can run into when you go on a haphazard decision to acquire furnishings is to find yourself in huge debt, then find out in the end that your purchased pieces of furniture have very low-usage.
How Much Money Do You Need to Shell Out When Renting Furniture Pieces to Stage a Home?
The running costs of renting several pieces of furniture to stage a home could range anywhere between a few hundred to several thousands of dollars. The cost would directly depend on the kind of furniture pieces that you are going to lease, the quality in which they come in, and lastly the terms of the lease.
If you want to have an idea how much you are likely to pay for furniture items that are most leased from the top and leading furniture hire Melbourne companies, here are some of the prevailing rates they have on offer:
- Chair: $30 to $750 /month each
- Ottomans & Benches: $105 to $315 /month
- Bed: $130 to $480 /month
- Chests & Cabinets $120 to $305 /month
- Sofa $140 to $2,210 /month
- Dining table: $80 to $1,180 /month
- Headboard: $40 to $170 /month
- TV set: $85 to $420 /month
- TV: $105 to $845 /month
- Dining chair: $20 to $300 /month each
- Mattress: $140 to $410 /month
As a Home Stager, Should You Buy or Rent Furniture?
The decision to buy or rent a piece of furniture will be determined by the Return on Investment or ROI that you are anticipated to have. For this, know that there are a number of important factors that you will need to take into account, including the following:
- How much money will you need to shell out to buy?
- When you buy a piece of furniture, how much will you pay for the storage? How much would it cost you to move the item to the subject property?
- How much would the rent cost?
- Do you reckon to have frequent use of furniture?
Here is a scenario:
Suppose you have spotted a piece of furniture that you are undecided if you will buy out or rent. Eventually, it came to your knowledge that the cost of leasing it for several times would greatly exceed its tag price.
With respect to your home styling expertise, you reckon that you will be able to use that particular item for about 4-5 times, on a bare minimum every year. Provided that it comes in a neutral style coupled with highly durable quality, you should be able to make use of it for at least the next 5-6 years or so.
Furthermore, should the item in question come in a relatively small size, then it gives you some liberty to have it stored somewhere inside your home office, take it out only when you need to bring it to the client’s property. If you are in this kind of situation, buying an item from your favorite Melbourne furniture hire outlet as opposed to renting it would be most practical.