When it comes to bathroom upgrades, new rental property owners often spend far more money than they need to, thinking that a high-end bathroom will translate to increased rental rates. However, this is seldom true. An expensive bathroom remodeling project rarely brings the improvement in rental rates or property value that owners hope for. To maximize rent and value, prioritize less costly and more durable options for your rental property.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property requires careful, budget-conscious planning. Otherwise, you may find yourself investing in upgrades that don’t yield a strong return. Bathrooms are one of the most common areas where new property owners overspend. Many feel they need to completely remodel every bathroom in their rental house, which can lead to excessive spending. 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.
A high-end bathroom might seem appealing, but it doesn’t necessarily add as much value or appeal to your property as you might expect. Renters usually seek rental homes with a consistent level of quality throughout. If your property features luxury bathrooms alongside less luxurious elements in other rooms, it may deter prospective renters. Inconsistent quality can signal potential maintenance and repair issues, which may be a red flag for renters.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Interestingly, many renters don’t want high-end upgrades, as they prefer materials that require less maintenance. Spending on a whirlpool tub or other luxury amenities that tenants may never use is often not the best investment. High-end construction materials can also be more prone to damage, resulting in costly repairs, while durable products are better suited to withstanding the conditions of rental properties. Opting for materials that can hold up over time reduces the chances of issues with leaks or breakdowns.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. Simple improvements, such as a quality paint job, new fixtures, and redoing the grout and caulking, can make a significant difference. Light fixtures, drawer pulls, and towel racks are small upgrades that add appeal without major costs. If your bathtub or shower is outdated or non-functional, consider installing a new one-piece tub and shower surround unit. These units are durable, affordable, and provide an upgraded look without needing custom tile work.
Knowing which bathroom upgrades will help you create the rental property your target demographic is looking for can be challenging. But Real Property Management Affiliates can help. We have the experience and resources you need to determine which upgrades will increase your property values and appeal to prospective renters in Katy. We can also help ensure that the work gets done in a timely and budget-conscious manner. For more information, contact us online or call us at 713-429-0411.
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