If you’ve been following along either on the blog or on Instagram you’ll know that we are renovating our downstairs, and plan on turning it into an Airbnb. Today I’m posting a little more about it on the blog, and where we are up to in our plans. For all our Airbnb related posts click here.
So why are we going to Airbnb part of our house?
For two reasons.
First reason is we would like to create another stream of income that isn’t our main wages. We would love to use this income to help us cover some of the costs of renovating our home (and once that’s finished maybe even help us pay off our mortgage).
Second reason is until mid last year my mother in law lived with us, and contributed to the household. It was lovely having her with us, but she now has a lovely home of her own. Since then the downstairs has been underutilised and so we thought it was a good opportunity to turn it into a self contained Airbnb.
How are you going to Airbnb your home if you live in it?
Good question. We have a split level home and have access to each level from the ground level (sounds weird but it’s accurate). This means that our family of four can live in the upstairs 3 bedroom house (with bathrooms and kitchen), and downstairs can be it’s own self contained 1 bedroom house (with bathroom and kitchenette).
What renovations are you doing on the Airbnb?
Currently our future downstairs Airbnb isn’t ready for guests. We purchased our home 6 years ago and underestimated how long it would take to complete. We’ve been cash flowing our renovations which is why it’s taking us so long. That said we are dipping into our savings and prioritising the renovations to get downstairs ready for guests so we can boost our cashflow.
What Airbnb related renovations have we finished?
- Sectioned off the downstairs so that we guests can’t come into our upstairs area and they have their own private space (and vice versa).
- Pulled up and removed the old flooring that was water damaged.
- Replaced the flooring with new tiling.
- Replaced the skirting boards.
- Furnished 80% of the downstairs.
What Airbnb related renovations are still to be done?
- Completely demolish the bathroom and toilet.
- Put in a new bathroom and toilet.
- Put in a kitchenette ourselves.
- Put in 6 new doors.
- Touch up paint the walls.
- Finish furnishing the rest of the Airbnb.
- Put in 3 plantation shutters.
What is our budget?
As close to zero as possible, but will likely come in between 15-20k.
If you would like to see how much we have spent each month feel free to review our monthly expenses posts here. We have a category called renovations.
When are we aiming to start listing our Airbnb?
Spring 2021 (so less than 3 months).
What does it look like now?
Here are a few current photos of the space.
When we do get around to listing on Airbnb I’m going to rope in an amazing friend of mine who is a real estate photographer to assist.
We also have a whole heap of financial and taxation considerations to work our way through before we officially start hosting.
Throughout this journey of becoming Airbnb hosts I’ll be sharing via our blog and via Instagram. It would be great if you followed along.
We have so much to learn about being hosts so I would be keen to hear from any Airbnb hosts in the comments. What are your tips for being an awesome hosts?
Alternatively I would also love to hear from those who use Airbnb for accommodation. What makes an Airbnb awesome, and what are some of the unexpected awesome things hosts have done to make your stay special?
If you would like to follow our renovations on Instagram feel free to follow via @TheBoathouseStirling
Or if you would like to have articles like this delivered to your inbox subscribe below.
How was the Airbnb experience? Has the income been a little bit passive as you learned more about the ins and outs? 🙂
We haven’t started taking bookings yet. We are still renovating the space. We will have another update at the end of the month. We are aiming to start taking bookings in October.