In a competitive rental market, Roslindale property owners at times consider that building a dream kitchen can allow them to attract higher-paying tenants. Even though the kitchen is a vital factor of any rental home, high-end or luxury upgrades rarely result in a higher rental rate. Unless your entire rental home is upgraded in the same way and in a market that might support higher rent, the ideal decision is to create a kitchen that shows less expensive and more durable elements.
Homeowners regularly dream of upgrading their kitchens with high-end cabinets, appliances, countertops, and flooring. But oftentimes expensive materials such as granite and hardwood are easily destroyed and frequently need a lot more responsibility to maintain. A homeowner may see such features as reasons worth living in a home with a beautiful kitchen, a tenant doesn’t necessarily believe the same thing. Materials that are pricy to repair or replace or that are rapidly damaged are not excellent options for a rental home, in part for the reason that they increase your maintenance costs and also on the account that tenants might not wish the accountability of maintaining that level of luxury.
There are countless considerations why creating your dream kitchen is not the best project for your rental property. Tenants are generally captivated by rental homes made to reduce the amount of upkeep needed. Despite the fact that they do still need quality appliances and updated features, tenants are, in all likelihood, to consider a high-end kitchen as more of a hassle than a bonus. That is why even supposing you do believe that a high-end kitchen will get you to charge more in rent, your tenants may actually not be prepared to pay a higher rate for that feature alone.
More problems take place if the kitchen you are planning to remodel doesn’t match the quality of the rest of the rental property. Inconsistent upgrades could be a significant nuisance for a rental property. A home with a lovely kitchen yet has dingy, dated bathrooms or worn carpeting may perhaps bring about red flags for a prospective tenant. They may possibly perceive the rental house as an unfinished project, not a complete rental home ready to be lived in. Upgrading one room in the house also does little to increase your property values, in particular, if the home is not in an upscale area.
In lieu of spending big on a high-end kitchen, look at executing several simple updates. An inexpensive and durable countertop and floor, a matching set of new appliances, and some new fixtures may make an older kitchen feel fresh and modern. Worn cabinets may usually be painted or resurfaced to create an entirely new appearance for a fraction of the cost and could quickly bring a dated kitchen into the present. Indeed, tiny pieces, as for instance a new light fixture and drawer pulls, can give allurement and ambiance to a room. In addition, you won’t waste time getting stressed whether your tenant will damage your expensive tile, stainless steel appliances, or granite countertops.
The heart of the matter is that provided you have the budget to achieve high-end upgrades of the same quality and style throughout the entire investment property, the best alternative is to stay within quality mid-range improvements. Also, it may really be arduous to figure out which upgrades will add value to your rental property and correspond to rent increases. Why not enable the professional Roslindale property managers at Real Property Management Boston to help you out? Our industry competency and excellent remodeling contractors can assist you to determine the ideal measures to upgrade your rental property to get the best of your rental rates and enlarge your property values. Contact us or call us at 617-522-0099 for more useful information.
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