Interior Design & Decorating Ideas For Property Investing | HMO & Buy To Let Home Design Tips

Interior Design & Decorating Ideas For Property Investing | HMO & Buy To Let Home Design Tips

– If you want to invest in property, I personally believe that
there’s 10 key skills you should try to master. And skill number seven is to
improve your understanding at least at a basic
level, of interior design. And so, let me share why this is important and give you seven design power tips that I know are gonna help you. (chillwave music) Hi, my name’s Tony Law from
Your First Four Houses. And I teach people how-to build
a small property portfolio that generates a great income for them so they can give up their
day job if they wish because they’re enow financially free. If this is your first time
here, be sure to subscribe to the channel and click
that bell notification icon so that you don’t miss out
on any of the free content that I give you each and every week. So, I honestly think
today’s tenants do expect a higher standard of interior design. And quite rightly so, to be
perfectly honest with you. Take HMOs for example,
also known as multilets or houseshares. I don’t think that there’s any doubts that in some areas of the country there is now an over supply of rooms. And so, if you own an HMO in that area and you want your rooms filled, well, you’ve gotta offer something a bit better than the
average, haven’t you? Otherwise, you’re not gonna
be renting out your rooms. Take this room, for example. I mean, if you saw this
advertised on SpareRoom would you dive for the phone? But with just a little bit
of interior design thought you can turn this room into
something really attractive, that’s gonna let, straight away. What about this one? There’s next to no thought
that’s gone in here, is there? But choose some great wall colours, attractive fabrics and stage it with some contemporary furniture and it immediately looks
completely different. Or this one. And don’t forget, if this is an HMO, this one room is really
where the housemate is gonna be spending most of their time. But if you put some
thought into the colours, if you think about the accessories, well, let’s be really honest. This is nicer than my bedroom at home. So, if we’re just focusing on HMOs, just for a moment. A well-designed room
will mean less viewings, because your rooms are
obviously gonna be snapped up far more quickly, aren’t they? You’re gonna be able to get a higher rent. People will pay more for
a better designed room. You’re gonna have happier tenants. There’s gonna be less complaints. Plus, I’d suggest they’re gonna look after their rooms a little bit
more if they’re kind of proud of the way that they look. They’ll stay longer which
is gonna be less voids, because well, let’s face it, your rooms are the best in town. And if we’re talking about
service accommodation, holiday lets, hotels,
guest houses or whatever. Once again, you can charge
just that little bit extra for that kind of boutique and that kind of higher end, designer kind of feel. You’ll have quicker and more sales by your online booking platforms, which is gonna mean less voids. You’re probably gonna get better reviews if it’s a bit of a designer place. Which is obviously, again,
gonna lead to more sales. Plus, you’ll probably get repeat bookings direct with you rather
than having to go through one of the booking platforms. So, therefore you’re not paying their fee. Which is gonna mean higher profits. What about new builds or
kind of new conversions? Well, let’s be really honest. Most buyers have a quite limited idea when it comes to interior
design, don’t they? Despite what they might like to think. So, make this a really
easy decision for them by putting some real
thought into the design. Help buyers picture how
finished rooms are gonna look. And don’t forget staging furniture can be sold on with the house. Okay so, let me give you a few quick tips I think are really gonna help you here. So, my first tip is to put together a design palette before you start work. This doesn’t have to be too complicated but it will make your life so much easier and keep you focused on the
colours and the fabrics matching. My second tip is to
use a soft sheen paint. Now, I know I’m gonna be
shot down on flames for that but it’s just my view. I know everybody tends to
like the matte finishes but they are much more
difficult to keep clean. Soft sheen is one step
down from a flat matte. And it does give you the ability to clean just that little bit more, I feel. My third tip is to look
for inspiration online. If you type in contemporary
design into Google, have a look at what comes up. You’ll see some amazing
designs and they’re gonna give you the colours that they’ve used to create that effect. Check out some of the images on some of the Facebook forums. I always recommend people
go and walk around IKEA. Okay, that may not be for everybody. But if you go around IKEA
or if you in particular look at some of their smaller little flats that they kind of put into these places and go and check out
what they’ve done there, it will give you some real design ideas. My fourth tip is to check
out the Adobe Colour Wheel. Now, this is a fantastic little tool that will really help you nail down some complementary colours. Regardless of the kind of theme or look that you’re going for. If you wanna check out this video here it will give you a little
bit more information, plus I’ll put the link for that in the description box below. My fifth tip is to
always stage your rooms. Honestly, a small investment in staging will reap huge benefits in terms of: you’re gonna rent it
out much more quickly, you can always let those tenant hang on to those bits of staging. Or you can keep them and
then you can use them next time you wanna stage that next room. So, just do it. My sixth tip is to consider
a little bit of training. Now, there are some great
online courses out there on interior design. And some great classroom-based
courses as well. And that could be really good fun. Plus, it’s a skill that you’re then gonna have for life. My seventh tip is to get a professional in to photograph the rooms once they’re all finished and staged. Honestly, I’ve made this mistake before. You will get one chance
before those tenants move in and kinda wreck the
place, figuratively speaking. So, make sure you bring in a professional who’s gonna light the place properly, stage it properly and get some really awesome photos. Have you checked out my completely free online property mini course? That’s gonna teach you how to build a small property portfolio that generates a great income for you without needing to put in big deposits. Click the link here to find out more.

6 thoughts on “Interior Design & Decorating Ideas For Property Investing | HMO & Buy To Let Home Design Tips

  1. Awesome vid! Love how you stick to the key points and everyone of them is valuable! I would love a vid on turning around a room after a tennant moves out (in a hmo for example). Something about cleaning costs, what should be replaced/cleaned and how to get the room filled again as quickly as possible. I’m looking forward to it! Keep up the good work, you’re a hero to beginners like me!

  2. Hi Tony, great video, I think I know your answer but is it still worth getting into buy to let with the new tax changes and also added costs with stamp duty

  3. Hi Tony
    Thank you for your amazing content. My question is

    What do you think about buying a boat with residential moorings in London area. In the hope of renting it out as normal 2 bed dwellings…..I know it is very odd but considerably cheaper (£25k for the whole thing) and how do you find out if any one will want to live in something like that ?

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