Unlock the Secrets to Elevate Your Home's Earning Potential with Interior Design Expert Kellie Richardson
Australians across the country are looking for ways to bring more money into the household as the cost of living rises and interest rates stay high.
According to Kellie Richardson, highly respected interior designer, creator of the term 'Botox for your home' and founder of Melbourne-based home design company Kurved by Design, many people already have the ideal situation to bring more money into the household through their own home or investment property.
"Many households don't realise that they already have the ability to bring more income into the home, they just need some help and tips to assist them to understand where and how," Richardson said.
Transform your existing Airbnb into a luxury stay experience
Convert unused rooms in your home into an Airbnb space
Convert your investment property into a fully furnished luxury short stay
Richardson has earned herself a solid reputation over the years as one of Australia's most creative and talented interior designers and decorators and shares her top tips on how to use property strategically to generate more income —without the price tag.
"We are helping a lot of people at the moment to squeeze more rental return out of their Airbnb by creating a premium experience. We are also assisting people to furnish new spaces around their home to list as short stay accommodation and to convert their long stay investment property into fully furnished short stays," Richardson said.
Turn your existing Airbnb into a luxury experience
"There are currently hundreds of thousands of properties listed on Airbnb. While COVID has impacted the market somewhat, many areas of the rental and Airbnb sector are bouncing back in a big way," Richardson said.
"It is becoming increasingly expensive to travel overseas, so more and more Aussies are looking to holiday and stay in Australia. This means there is a real opportunity for anyone with an existing Airbnb to create a premium experience for those that stay. Not only does this help to attract a nicer calibre of visitor, it also means you can significantly increase the stay returns and this means more money in the pocket of property owners."
Put unused spaces to work
"Many homeowners have unused space around the home. This includes unused bedrooms, studios in the backyard, even empty garages. You would be surprised what you can do with an unused space," Richardson said.
"As long as you are able to provide safe, secure and comfortable space then you are able to turn unused rooms into revenue. It is extremely easy to convert unused rooms into luxury feel spaces that are capable of generating a decent amount of money without spending a lot of money."
Design tips to achieve the luxury look on a budget
"To turn your Airbnb or short stay accommodation into a premium experience, there are some simple things property owners can do," Richardson said.
"Add a couple of statement pieces of furniture to the property to provide a quality designer luxury feel. Ideally the pieces need to be dark in colour to withstand stains and wear and tear.
"Create a colour palette that is used consistently through the property. Dark bronze, rust, mushroom grey, stone and dark red colours are rich and luxurious and are considered timeless so they won't date. Add pops of colour where possible throughout to achieve the desired look.
"Cushions placed on seating and on beds add to the feel of glamour and luxury. Wall prints, table lamps, floor lamps and hanging lamps are ideal ways to add style without spending a lot of money.
"Bedding is an area where you can make some big changes. By simply investing in some quality pillows and sheet sets, this can add enormous value to the look and feel of a property."
Shop Facebook, Gumtree and discount departmental stores
"You will be utterly amazed at the absolute bargains you can find by shopping second hand. Source quality and designer pieces through Facebook, Gumtree and even Op Shops. People let go of their items for a range of reasons and you can easily negotiate a very good deal and get an amazing statement piece to add to your accommodation," Richardson suggested.
"Preloved quality items are cost effective and provide an excellent way to set up your new Airbnb or turn it into a premium experience.
"Discount departmental stores like Kmart and Big W have really stepped it up in recent years, bringing us trendy looks for a fraction of the designer price. They're also constantly changing and updating their range of furnishings so make sure you check back often and see whether something new grabs your eye.
"Very often, these designs and trends are replicas of high-end designer items but at a drastically reduced price which makes them irresistible to buy and have in your home. When mixed with other items, no one would realise that they are not the real designer deal."
Add great luxury touches
"Airbnb users often want to explore the local area. Set up a simple pamphlet or magazine display somewhere on a bench or table with brochures and flyers from local sightseeing destinations, restaurants and galleries. Add informational materials for premium experiences to add to the feel of the accommodation," Richardson said.
"Luxury travel and gourmet food magazines are always a nice touch to add to coffee tables. These can be found at op shops. Good quality magazines are always a nice touch and as along as they are within a few years of date, are highly valued by readers.
"Coffee makers are always a nice addition to any short stay accommodation. Coffee pods can be purchased very cheaply online making the luxury experience highly affordable. Classic tea and coffee sets can be purchased very cheaply from op shops in near new condition and are a great addition to any kitchen bench top!"
Richardson said there are some things you should never skimp on and these include toilet paper and toiletries. Good imagery will always help to ensure the property is marketed well and gets lots of interest online."
About Kurved by Design
Since 2016, Kurved by Design, founded by Kellie Richardson, has provided Melbourne with a range of home design services. The company umbrella comprises five different companies: interior design, property staging, retail furniture and homewares, property maintenance and its interior design academy. Its vast reach has made it a truly one-of-a-kind company. In 2020, Richardson won the global CEO Excellence award in 2020 for "Best Property Styling and Interior Design Business".