Next to the kitchen, bathroom upgrades are the top place where new rental property owners spend far more money than they need to. Why? Many believe that a high-end bathroom will automatically translate into increased rental rates. However, that’s rarely the case. Often, an expensive bathroom remodeling project does little to improve your rental rate or property value. To maximize rent and value, prioritize less costly and more durable options. Building a dream bathroom in a rental property is a mistake you can and should avoid.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property requires budget-conscious planning to see a return on investment. Unfortunately, the bathroom is one area where new property owners often overspend. Many assume they need to gut and completely redo every bathroom in their rental house to create an 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 reality is that a high-end bathroom doesn’t add as much to your property’s value or appeal as you might think. Tenants are looking for rental homes that maintain a consistent level of quality throughout. Depending on the market, expectations may vary, but a property with luxury bathrooms and less-than-luxurious features in other rooms may end up turning prospective renters away instead of getting more rent. Renters often view inconsistent quality from room to room as a sign of limited owner funds, which raises red flags for maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Many renters don’t want the high-end upgrades that homeowners dream about, as tenants are usually unwilling to invest the extra time and effort needed to maintain higher-quality materials. For instance, you may invest in a whirlpool tub or high-end construction materials, only for them to go unused or incur expensive repairs. Durable products, on the other hand, are less likely to leak or break down, holding up under less-than-ideal conditions that are common in rental properties.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. A quality paint job, new fixtures, and replacing grout and caulking can create a fresh, modern bathroom. Simple upgrades like updated light fixtures, drawer pulls, and towel racks can give the space a high-end feel. If the bathtub or shower is outdated or not fully functional, consider a new one-piece tub and shower surround unit. Durable and affordable, these units are quick to install, easy to maintain, and can give the bathroom an upgraded feel without the need for a custom tile job.
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 desires can be challenging. But Real Property Management Boston can help. We have the experience and resources to help determine which upgrades will increase your property values and appeal to prospective renters in Brookline. We’ll also ensure that the work is completed in a timely and budget-conscious manner. For more information, contact us online or call us at 617-522-0099.
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