Are you considering making some extra cash on the side by furniture flipping? If so, you have some competition. Furniture flipping has been identified as one of the major sustainability trends for 2022, with its popularity skyrocketing over the past year. More and more of us are using our newfound appreciation for quality home furnishings as an opportunity to engage in a lucrative side hustle of our own.
If you are new to flipping furniture, you have come to the right place. Whether you’re wondering how to give a furniture makeover or just how to decide whether a piece is worth flipping, consider these crucial factors before you begin.
1. Is it One of a Kind?
When learning how to flip furniture, you quickly realize that truly unique pieces are those that fetch a premium on the market. This is why you should focus your search on furniture that will allow the buyer to feel like they have a one-of-a-kind piece in their home. At a bare minimum, this means avoiding furniture from IKEA or other big box stores and instead looking for pieces with some history attached to them.
2. How Can You Enhance the Piece?
With furniture flips, the main goal is to take something you have purchased and renovate or upcycle it, ideally for a profit. When you have a piece of furniture that you want to flip, your first step should always be to assess what you can actually do to make the piece more desirable.
This is why it is a very good idea to buy high-quality furniture enhancements that can give old pieces a new lease of life. For example, the Hairpin Leg Company offers individually crafted seat tops, legs, and handles to add a touch of magic to any old piece of furniture.
3. Is There a Brand-Name Attached?
If you want tips for flipping furniture, remember that certain brand names and labels carry a lot of weight. If you can memorize a Rolodex of the hottest names that people will pay a premium for, you can snag yourself a bargain and then resell it for a healthy profit. There is a huge range to choose from. There are vintage classics such as Stickley, Drexel, and Ethan Allen. There are modernist wonders such as Aalto and Bauhaus pieces. There are contemporary trendsetters such as Anthropologie and Artek. This list goes on.
4. How Much Repair is Needed?
Finally, remember to avoid taking on more than you are prepared to do. Not all furniture requires a simple lick of paint and varnish to be ready for re-sale. Some pieces will require dozens or even hundreds of hours’ worth of restoration work before it is ready to sell. Always ask yourself how much time, effort, and money you are willing to commit to a piece of furniture, and whether the payoff will actually be worth it in the end.
More Tips for Furniture Flipping in 2022
Anyone can become a pro at furniture flipping and make a healthy profit, as long as they have the right know-how. For this, we have got you covered. For more essential tips on furniture buying and furniture selling, make sure to consult our expert Real Estate & Home section to learn more.