New rental property owners often prioritize bathroom upgrades, spending far more money than they need to. Many believe a high-end bathroom will automatically lead to increased rental rates, but this is seldom the case. An expensive bathroom remodeling project rarely has the impact on rental rate or property value that owners expect. Instead, focusing on less costly and more durable options is a smarter way to maximize rent and value in your rental property.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property requires strategic, budget-conscious planning. Otherwise, you might end up sinking funds into upgrades that don’t yield a high return. Unfortunately, bathrooms are often the area where new property owners overspend. Many believe they must overhaul every bathroom in their rental house, but going this route can become costly fast. 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 may look impressive, it doesn’t necessarily add much to your property’s value or appeal. Renters generally want rental homes that maintain a consistent level of quality throughout. If the market indicates that tenants are looking for a balanced property, then luxury bathrooms with less-luxurious features in other rooms can be a turnoff, potentially driving away prospective renters. When renters see inconsistent quality from room to room, it can raise red flags about maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Contrary to popular belief, many renters don’t want high-end upgrades. For most tenants, a bathroom that requires minimal upkeep and uses durable products is far more appealing. High-end features like whirlpool tubs or custom tile work may go unused, while high-end construction materials can require frequent repairs if they aren’t particularly durable. Choosing durable products that can withstand less-than-ideal conditions helps prevent problems with items that might leak or break down.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. Focus on simple updates like a fresh coat of paint, new fixtures, and redoing the grout and caulking. Smaller upgrades, such as light fixtures, drawer pulls, and towel racks, can offer a high-end appearance without the high-end cost. For outdated or non-functional tubs and showers, consider installing a new one-piece tub and shower surround unit. These are durable, affordable, and easy to maintain, providing an upgraded look without the expense of custom tile work.
Selecting the right bathroom upgrades to create a rental property that appeals to tenants can be challenging. Real Property Management Bozeman has the experience and resources to guide you in choosing upgrades that will increase your property values and attract prospective renters in Three Forks. We can also ensure that the work is completed on time and within budget. For more information, contact us online or call us at 406-586-2226.
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