Bathroom upgrades are often the first thing new rental property owners look to invest in, causing them to spend far more money than they need to. The assumption is that a high-end bathroom will naturally bring in increased rental rates, but this isn’t typically the case. An expensive bathroom remodeling project usually fails to significantly boost rental rates or property value. Prioritizing less costly and more durable options will help you maximize rent and value, making the “dream bathroom” concept unnecessary in a rental property.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property successfully requires budget-conscious planning. Without careful consideration, you might end up investing in costly upgrades with minimal return. The bathroom is one of the most common areas where new property owners overspend. Many believe they need to completely remodel every bathroom in their rental house for a high-end look, but this is 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 luxury bathrooms may sound appealing, they don’t always add as much value or appeal as anticipated. Renters look for rental homes with a consistent level of quality, and having high-end bathrooms alongside lower-quality features in other rooms can be a deterrent. When renters notice inconsistent quality from room to room, it can signal potential maintenance and repair issues, which is a red flag for prospective tenants.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Surprisingly, many renters don’t even want high-end upgrades, as they don’t want the responsibility of maintaining higher-quality materials. Spending on a whirlpool tub or similar upgrades that renters may rarely use can mean lost money. High-end construction materials can also be delicate, leading to expensive repairs in contrast to more durable options. Choosing durable products that can handle less-than-ideal conditions is essential for rental properties, reducing the risk of leaks or breakdowns.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. The trick is to focus on the upgrades that will make the bathroom feel updated without needing a complete overhaul. For example, a quality paint job and some new fixtures will go a long way toward creating a fresh and modern bathroom, as will simply replacing the grout and caulking. Light fixtures, drawer pulls, and towel racks are minor upgrades that give a room a high-end feel.
Consider installing a new one-piece tub and shower surround unit for bathtubs and showers that are ugly or not fully functional. Durable and affordable, they are quick to install and easy to maintain. Higher-end units can give a bathroom an upgraded feel without needing a custom tile job.
Choosing the right bathroom upgrades that will create the rental property your tenants desire can be a challenge. Real Property Management Charleston can help guide you. With our experience and resources, we’ll suggest upgrades to increase your property values and appeal to prospective renters in Goose Creek. Our team will also ensure the work is done within your budget and in a timely manner. For more information, contact us online or call us at 843-900-4061.
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