When it comes to bathroom upgrades, new rental property owners frequently invest more money than necessary, thinking a high-end bathroom will lead to increased rental rates. However, this is often not the case. An expensive bathroom remodeling project doesn’t always improve your rental rate or property value. Instead, to maximize rent and value, it’s smarter to choose less costly and more durable options that are practical for a rental property. Building a high-end bathroom is a mistake you can avoid.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property takes a lot of budget-conscious planning to get right. Otherwise, you’ll lose money into upgrades that won’t make you the desired return. It is unfortunate that the bathroom is one room where this is too frequently the case.
New property owners may think they must completely gut and re-do every bathroom in their rental house to get that upgraded feel. But going that route will cost you. According to Remodeling Magazine’s “Cost vs Value” report, an average full remodel of a bathroom costs around $25,000, while an upscale remodel can cost $75,000 or more.
The problem is that a high-end bathroom doesn’t add as much to your property’s value or appeal as you’d think. Tenants are looking for rental homes that have a consistent level of quality throughout.
Depending on the market, this could mean different things. But if your property has luxury bathrooms but less-than-luxurious features in other rooms, you might end up turning prospective renters away instead of getting more rent. This is because renters often view inconsistent quality from room to room as a sign that the owner has limited cash, raising red flags for maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Surprisingly, renters don’t always appreciate high-end upgrades, as these features often demand more upkeep. Tenants tend to favor materials that are durable and easier to maintain. High-end construction materials are more prone to damage and costly repairs, which means durable products that hold up well in rental conditions are a better choice.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. Cost-effective improvements like a quality paint job, updated fixtures, and fresh grout and caulking can give the space a modern feel. Additional upgrades, such as light fixtures, drawer pulls, and towel racks, contribute to a high-end look without a big budget. For outdated bathtubs or showers, consider a new one-piece tub and shower surround unit, which offers durability, affordability, and easy maintenance.
Consider installing a new one-piece tub and shower surround unit for bathtubs and showers that are ugly or not fully functional. Durable and affordable, they are quick to install and easy to maintain. Higher-end units can give a bathroom an upgraded feel without needing a custom tile job.
Knowing which bathroom upgrades will help you create the rental property your target demographic is looking for can be challenging. But Real Property Management NC East can help. We have the experience and resources you need to determine which upgrades will increase your property values and appeal to prospective renters in Havelock. We can also help ensure that the work gets done in a timely and budget-conscious manner. For more information, contact us online or call us at 252-298-5151.
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