Next to the kitchen, bathroom upgrades are often a top focus for new rental property owners, many of whom spend far more money than they need to. There is a common misconception that a high-end bathroom will instantly increase rental rates, but in reality, this rarely happens. More often than not, an expensive bathroom remodeling project fails to improve your rental rate or property value in a way that justifies the cost. To maximize rent and value, it’s best to focus on upgrades that are less costly and more durable. Building a dream bathroom may seem appealing, but for a rental property, it’s a mistake you can avoid.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property effectively requires strategic, budget-conscious planning to ensure you get the best return on your investment. Without this approach, you may find yourself spending more than necessary on upgrades that won’t give you the results you want. Unfortunately, bathrooms are one area where this problem is especially common, as new property owners often believe they need to gut and fully remodel every bathroom in their rental house. 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.
But while a high-end bathroom might be an attractive idea, it doesn’t always add as much to your property’s value or appeal as you might expect. Tenants often look for rental homes that offer a consistent level of quality throughout. If your property has luxury bathrooms alongside less luxurious features in other areas, you may inadvertently turn prospective renters away. Inconsistent quality from room to room can lead tenants to believe that the owner is cash-strapped, raising red flags for potential maintenance and repair issues.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Interestingly, many renters don’t actually want the high-end upgrades that homeowners often dream of. High-end bathrooms typically require more maintenance, and tenants may be unwilling to invest the extra time and effort needed to maintain higher-quality materials. For instance, you could spend thousands of dollars on a whirlpool tub or other high-end upgrades that renters may never even use. High-end construction materials are also prone to damage, leading to costly repairs. Opting for durable products that can hold up under typical rental conditions is often a smarter choice.
Creating a bathroom with an upgraded feel without a major remodel is easier than you might think. For example, a quality paint job, new fixtures, and replacing grout and caulking can go a long way in creating a fresh and modern bathroom. Even small upgrades, like updated light fixtures, drawer pulls, and towel racks, can add a touch of high-end appeal without breaking the bank. If your property has an outdated or non-functional bathtub or shower, consider installing a new one-piece tub and shower surround unit. These units are durable, affordable, and easy to maintain, providing an upgraded look without requiring a custom tile job.
Knowing which bathroom upgrades will help you create a rental property that appeals to your target demographic can be challenging. Fortunately, Real Property Management Ignite has the experience and resources to help you identify upgrades that will increase your property values and attract prospective renters in Redmond. We work to ensure that projects are completed on time and within budget. For more information, contact us online or call us at 541-550-7002.
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