When it comes to bathroom upgrades, new rental property owners frequently spend far more money than they need to. Many assume that a high-end bathroom will boost rental rates, but this rarely happens. Often, an expensive bathroom remodeling project won’t improve your rental rate or property value as much as you expect. Instead, to maximize rent and value, less costly and more durable options are a better fit for your rental property.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property takes a lot of budget-conscious planning to get right. Otherwise, you’ll sink cash into upgrades that won’t get you the desired return. Unfortunately, the bathroom is one room where this is too often 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.
However, a high-end bathroom doesn’t add much to your property’s value or appeal as often as expected. Tenants are typically looking for rental homes with a consistent level of quality. A property with luxury bathrooms but less luxurious features in other areas can turn away prospective renters. Inconsistent quality between rooms can be a red flag for maintenance issues, causing renters to hesitate.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Interestingly, renters are often uninterested in high-end upgrades and are more focused on durability and functionality. For instance, a whirlpool tub or other costly upgrades a renter may never use could end up being an inefficient investment. Expensive construction materials are also more prone to damage and may require costly repairs. Instead, opting for durable products helps reduce the risk of items breaking or leaking and lowers maintenance expenses in your rental property.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. The trick is to focus on the upgrades that will make the bathroom feel updated without needing a complete overhaul. For example, a quality paint job and some new fixtures will go a long way toward creating a fresh and modern bathroom, as will simply replacing the grout and caulking. Light fixtures, drawer pulls, and towel racks are minor upgrades that give a room a high-end feel.
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.
Choosing the right bathroom upgrades to create a rental property that appeals to your target demographic can be challenging. Real Property Management Elevation has the expertise to guide you in selecting upgrades that will increase your property values and attract prospective renters in Stephens City. We ensure timely and budget-conscious project completion. For more information, contact us online or call us at 540-409-5857.
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