Bathroom upgrades are often a top priority for new rental property owners, who end up spending far more money than they need to. The assumption is that a high-end bathroom will translate into increased rental rates. But that’s rarely the case. Instead, an expensive bathroom remodeling project may do little to improve rental rates or property value. To maximize rent and value, it’s better to focus on less costly and more durable options. Creating a dream bathroom in a rental property is one mistake you can avoid.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property effectively requires careful, budget-conscious planning. Without it, you may find yourself investing in costly upgrades that don’t yield a return. The bathroom is an area where new property owners often overspend. Some feel they need to gut and remodel every bathroom in their rental house to achieve an updated look, but this can lead to overspending. 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.
High-end bathroom upgrades don’t necessarily increase your property’s value or appeal as much as you’d expect. Renters often prefer rental homes with consistent quality throughout. Depending on the market, properties with luxury bathrooms but less luxurious features in other rooms may deter prospective renters rather than attract them. When renters see inconsistent quality from room to room, it can raise red flags regarding the owner’s ability to maintain the property, leading to concerns about maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Many renters don’t want the high-end upgrades that appeal to homeowners. They often prefer durable, low-maintenance materials that won’t require a lot of upkeep. Spending on a whirlpool tub or other high-end upgrades that renters may never use can be a wasted investment. High-end construction materials are also prone to damage, leading to costly repairs compared to more durable products. Choosing materials that can handle less-than-ideal conditions in a rental property is a smart approach to avoid unnecessary repairs.
Creating a bathroom with an upgraded feel without a full remodel is possible with affordable upgrades. A quality paint job, fresh grout, new fixtures, and caulking can quickly give the bathroom a modern appeal. Small touches like light fixtures, drawer pulls, and towel racks provide a high-end look without a high-end price. For outdated bathtubs and showers, consider a new one-piece tub and shower surround unit. Durable, affordable, and quick to install, these units offer a refreshed look without the cost of custom tile work.
Determining which bathroom upgrades will create the rental property that appeals to your target tenants can be a challenge. Real Property Management Commonwealth can help. With our expertise and resources, we’ll recommend upgrades that increase your property values and attract prospective renters in Lexington. We’ll also ensure the work is completed within your budget and on time. For more information, contact us online or call us at 617-299-2342.
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