Rentvesting: what is it?
I loved renting. I enjoyed the freedom of moving around every 3-6 months depending on my temp contracts or following groovy flat mates from one trendy suburb to another. It was a liberating part of my youth. Many of us got our first taste of styling up a small space, free from our parents salmon vinyl 3 piece recliners and I still remember the day I proudly rolled out my own living room rug and wrestled some oversized indoor plants into place. Renting serves so many purposes, but perhaps none more important than ‘flexibility’.
Fast forward 20 years and I have bought into the Great Australian Dream and I am now a home owner. However, my children may be some of many young people who will enjoy the flexibility of renting way into their 40’s and perhaps even as a smart investment choice. ‘Rentvesting’, a buzz term in the realestate scene, is the choice to rent where you wish to live (perhaps to be closer to work or better schools) and invest in property where other people need to live (which is generally more affordable).
Overwhelmingly, the evidence received during a recent Parliamentary inquiry suggests that ‘...fewer Australians are becoming home owners, with the trend most evident in declining rates of first home buyers and younger age cohorts generally, as a proportion of the home ownership market’. Appearing before the committee, the REIA referred to an 'exodus' of first home buyers from the housing market. It pointed to a number of indicators that fewer and fewer people were making the decision to purchase and occupy their first home. Some may suggest that it is not just about affordability, although it is for many marginalised Australians, moreover it could be a smart investment/lifestyle blend for those on higher incomes, who enjoy the flexibility renting can provide.
Rentvestors see value in renting and want to make their rented homes, homely.
The challenge? Making a house a home...
So how do ‘Rentvestors’ make their lifestyle rented space more like home, when they are restricted by landlord rules and regulations in regards to design?
The solution is smart interior design.
Cleverly considering your space and how to make the most out of the key features is a must. Rentvestors, need solutions for sourcing smart products which transform their space without damaging or restricting their style. HomeHustle is a great way to source design solutions for your rented home. Tricky design challenges can be overcome using HomeHustle’s slick platform. If you’re looking for just the right sofa, simply snap a photo of inspirational images from magazines or upload devine photos from recent visits to your favourite resort rooms to create a ‘Design Brief’. Set a budget and sit back and wait for design retailers to send you an ‘Offer’ containing real product solutions. If you like what you see, book a time to go in store and seal the deal. HomeHustle will save you time and cut through the clutter of visiting endless stores on the weekend.
Consider neutral palettes for your larger pieces like sofas or bed heads. They will transfer to another home easier, but neutral does not have to mean beige; millennial pinks, royal blues and deep teals are the new neutrals. Team key pieces with soft furnishings with a pop of colour and swap these out each season.
Make it personal
Simple open shelving or book cases can bring a focal point to a room and are fairly inexpensive and lightweight. Cluster your cherished travel collectables, curiosities and photographs to ensure a sense of homeliness when you enter your rented space.
If your rental has some totally funky, but outdated tiles or fixtures, have some fun and consider styling it in the era that it was designed. A simple poster with matching colours or fonts from the era can redeem an ugly space. However if they are truely hideous there is an amazing array of beautiful vinyls out there to go straight over the top, like these from Carpet Choice.
Keep removable pieces such as shower curtains, towels, linen, draw liners, rugs and throws, up to the minute and this will really help to give you that fresh design magazine look.
Follow these design tips and enjoy your ‘rentvesting’ lifestyle, after all, you chose to live in this beautiful location and if you don’t like the room you can always move!