For many new rental property owners, bathroom upgrades seem like an easy way to increase rental income, often leading them to spend far more money than they need to. They assume a high-end bathroom will automatically boost rental rates, but that is seldom true. More often, an expensive bathroom remodeling project fails to yield the rental rate or property value increase they were hoping for. To maximize rent and value, choose less costly and more durable options, avoiding the dream bathroom upgrades that may not pay off.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property requires careful, budget-conscious planning to get the best return on investment. Many property owners mistakenly believe that each bathroom in their rental house needs a complete remodel to achieve an upgraded look, but this can be an unnecessary expense. 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.
While a high-end bathroom might sound appealing, it may not add as much to your property’s value or appeal as you’d think. Tenants are generally looking for rental homes that maintain a consistent level of quality throughout. In some markets, if your property features luxury bathrooms but lower-quality finishes in other rooms, prospective renters might be turned off rather than attracted. Inconsistent quality from room to room often raises red flags for renters, as it suggests limited funds and possible maintenance issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Contrary to popular belief, many renters don’t want the high-end upgrades that homeowners envision. Tenants often prefer durable, easy-to-maintain materials that don’t require extra time or effort. Spending on a whirlpool tub or other upgrades that renters may not use could lead to wasted funds. Additionally, high-end construction materials can be fragile, requiring more expensive repairs than other durable products. Selecting materials that hold up under less-than-ideal conditions is a practical choice to avoid leaks or breakdowns in a rental property.
Creating a bathroom with an upgraded feel doesn’t necessarily mean breaking the bank. Affordable updates like a quality paint job, new fixtures, and replacing old grout and caulking can quickly refresh the room. Simple updates such as light fixtures, drawer pulls, and towel racks give a high-end appearance without the associated costs. For outdated or non-functional tubs or showers, a new one-piece tub and shower surround unit offers durability, ease of maintenance, and an upgraded look without a custom tile job.
Determining which bathroom upgrades will help create the rental property your target tenants are looking for can be complex. Real Property Management Acadia is here to help. We have the knowledge and resources needed to identify upgrades that increase your property values and appeal to prospective renters in Hampden. Our team will ensure that the work is done on time and within budget. For more information, contact us online or call us at 207-561-7482.
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