For new rental property owners, bathroom upgrades often become a major focus, leading to expenditures that are far higher than necessary. Many believe that investing in a high-end bathroom will automatically result in increased rental rates; however, this assumption is frequently incorrect. An expensive bathroom remodeling project often does little to improve your rental rate or property value. Instead, to maximize rent and value, it is more beneficial to focus on less costly and more durable options that appeal to renters.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property effectively requires careful, budget-conscious planning. If not, you may find yourself spending significantly on upgrades that won’t yield a satisfactory return. Bathrooms are often the room where new property owners overextend their budgets, feeling compelled to completely renovate every bathroom in their rental house. 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.
Unfortunately, a high-end bathroom may not add as much value to your property as you would expect. Tenants typically look for rental homes that offer a consistent level of quality throughout the property. If your property features luxury bathrooms while other areas are less luxurious, you risk turning away prospective renters. Inconsistent quality from room to room can signal potential maintenance and repair issues, which may raise red flags for tenants.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Interestingly, many renters do not desire the high-end upgrades that homeowners often dream about. For tenants, the time and effort required to maintain high-quality materials often outweigh the benefits. For example, investing in a whirlpool tub or other expensive upgrades a renter may never use is rarely a smart choice. High-end construction materials can be easily damaged, leading to costly repairs down the line. Instead, opting for durable products can reduce the risk of leaks or breakdowns, ultimately saving money on repairs.
Creating a bathroom with an upgraded feel doesn’t necessitate a complete remodel. Simple enhancements, such as a quality paint job, new fixtures, and redoing grout and caulking, can significantly refresh a bathroom. Additionally, minor upgrades like light fixtures, drawer pulls, and towel racks can provide a high-end appearance without a significant financial commitment. If your bathtub or shower is outdated or non-functional, consider installing a new one-piece tub and shower surround unit. These units are not only durable and affordable but also easy to maintain, giving the bathroom an upgraded feel without the cost of custom tile work.
Determining which bathroom upgrades will create the rental property your target demographic desires can be challenging. Real Property Management Absolute is here to help you identify which upgrades will increase your property values and attract prospective renters in Nashua. We also ensure that projects are completed in a timely and budget-conscious manner. For more information, contact us online or call us at 603-242-2727.
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