UK Landlord Forum / Life

Hi Guys,

just wondering how you lot fund your furniture purchases?

Here is my quandry. I currently have 4 properties with 2 more going through at the moment and 1 other that is about to start the buying process. All are 4 or 5 bed lets and at least two will require 5 x beds, 5 x wardrobes, 5 x desks - you get the picture.

Obviously this represents a large capital expenditure so instead of me paying for everything should I get a loan to cover the purchase and then pay off monthly for 2 years or so? Just wondering if anyone out there uses an asset management company to do this?

The money will obviously work harder for me if it's in my account rather than being tied up in goods and chattals but very interested in your own thoughts.

Jools

I think this thread is for Feefee, she loves furniture and stuff

None of my properties are furnished, because I don't want the hassle of replacing any damanged goods. But it sounds like you have your job cut out.

Do you plan on buying everything new or second hand?

By the way, have you set yourself a budget?

Me, oh faggie is right I love furniture .... well I did ... until I stapled my finger to my sofa with an industrial stapler last week .... I was reupholstering it you see ....... wasnt a nice sight.

Anyways yep... all that furniture would cost ALOT... however to keep costs down Id start to look on ebay, religiously and ikea.

As for funding it... I personally got a 0% apr credit card for I think 12 months as it worked out cheap than a loan... so when its coming upto the 12 months i'll just switch again.

Good point, fee! I would def get an interest free credit card. There are loads about!!!

http://www.propertyinvestmentproject.co.uk/blog/2007/10/29/using-credit-cards-to-pay-your-mortgage/

I got mine from barclays however DONT go in-store, they are rubbish. I spent about 40 minutes answering questions on basically my life history to be told the offer I had seen was only online, which would take 3 week but was 12 months 0% opposed to there instore offer of 2 months 0% on purchases which would take a week to process.

Really annoying.

I got mine from Halifax. 11 months no interest! Lovely.

Never used it a day in my life, though...

I usually budget at around £300 - £350 per room to include dbl bed + mattress, trio set of wardrobe, 4 drawer tall boy and bedside cabinet, some form of desk and a chair. Usually include mattress protector. Can usually do it for that using multifurnish student/budget range which is excellent and comes either ready made or put up by the delivery chaps.
A new mattress is a great selling point!

Tend to stay away from conglomerates as they are unwilling to do discounts etc.

Costco do an excellent large desk for around £60 and some of the Ikea range is good.

Dont really like credit cards. Just a personal thing.

Maybe what we need is a buying group so we can try to get better prices by buying in bulk?

Jools

Yep I think looking for a furniture package would be the best idea.

But, maybe using less furniture would save some money, i.e, double bed,mattress,1 wardrobe,chest of drawers and even hold of the desk and chair if they arent going to be students.

feefee has a point.... have you considered buying furniture packages from places like www.instantfurnishing.co.uk ??

I didnt even know companies like this existed but i got the residential landlords association letter sent to me when i enquired about joining and found them.

I havent used them myself but they offer things like :
bedroom furniture set
table and 4 chairs
double bed and mattress
1 and 2 seat sofa
coffee table
microwave
kitchen set (bin, washing up bowl etc..)
bagless vaccum cleaner

all for £995 !! (got this info from an ad on the back of the newsletter!)

i'm guessing quality wont be great but its an option if you want to provide budget stuff ?

hmmm that website seems to be dead:

try http://www.buytolet-furnishings.co.uk/  or google landlord furniture packages. Im sure you'll find loads of stuff!!

Are you going to be renting to students, Jools?

I guess the target audience is going to play a major role in all this? If you're going to be renting to students you're probably better off buying good quality products that can survive through student antics ha! That's just an example.

It is a very good room furniture on which we can provide storage.How good repair and clean lines and ordered to take a look at sunset and feel we fall asleep, and the difference between proper rest or a restless night do. If your room is full and you run out of storage, you need to look at bedroom furniture that not only looks good, but also meets your storage space.

According to my point of view you should go for furniture packages.It will cost you less than single items or you can purchase less items.

I agree with all that Furniture package is best