When new rental property owners focus on bathroom upgrades, they often spend far more money than they need to, assuming that a high-end bathroom will automatically lead to increased rental rates. However, an expensive bathroom remodeling project rarely increases your rental rate or property value as expected. To maximize rent and value, prioritize less costly and more durable options. A dream bathroom upgrade is an avoidable mistake for rental property owners.
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.
Contrary to what some may think, a high-end bathroom doesn’t always enhance your property’s value or appeal as much as anticipated. Tenants primarily look for rental homes with a consistent level of quality across all rooms. If, depending on the market, your property boasts luxury bathrooms but has less-than-luxurious features in other areas, it could potentially turn prospective renters away rather than attract higher rent. Inconsistent quality from room to room often signals to renters that the property owner may be cutting corners, raising red flags about possible maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Interestingly, many renters don’t desire the high-end upgrades that homeowners dream about. Tenants typically prefer functional and easy-to-maintain features, as they may be unwilling to invest the extra time and effort required to care for higher-quality materials. For example, installing a whirlpool tub or other upgrades a renter may never use could result in wasted expenses. Additionally, high-end construction materials are often prone to damage, leading to more expensive repairs than other durable products. Opting for materials that will withstand less-than-ideal conditions common in rental properties makes sense, as it helps avoid items that may leak or break down over time.
Creating a bathroom with an upgraded feel doesn’t necessarily require an extensive remodel. Simple, effective updates like a quality paint job, new fixtures, and fresh grout and caulking can instantly modernize the space. Other cost-effective touches, such as updated light fixtures, drawer pulls, and towel racks, help to provide a high-end feel without the high-end price. If the existing tub or shower is outdated or non-functional, consider installing a new one-piece tub and shower surround unit. Durable and affordable, these units are quick to install and easy to maintain, providing an upgraded feel without the need for a custom tile job.
Identifying the right bathroom upgrades that will help you create the rental property your target tenants desire can be tricky. Fortunately, Real Property Management Southeast Idaho is here to help. Our expertise and resources allow us to advise on upgrades that can increase your property values and appeal to prospective renters in Ammon. We’ll also ensure that the work is completed in a timely and budget-conscious manner, protecting your investment while enhancing the rental’s appeal. For more information, contact us online or call us at 208-522-2400.
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