After the kitchen, bathroom upgrades are the number one part where new rental property owners allocate far more money than they need to. Why? Because they think that a high-end bathroom will certainly shift into increased rental rates. But that is barely the case. More recurrently, that expensive bathroom remodeling project does little to build up your rental rate or your property values. To maximize both rent and value, less expensive and more durable options should be your objective. Creating your dream bathroom in a rental property is one miscalculation you can and should stay away from.
Expanding a Houston rental property is something that needs substantial budget-conscious planning to get spot-on. Besides, you’ll drop money into upgrades that won’t get you the return you’re searching for. Ruefully, the bathroom is one part of the house where this is too generally the predicament. New property administrators may think that they should completely gut and re-do every bathroom in their rental house to get that enhanced look. But going down that road will cost you. As reported by Remodeling Magazine’s “Cost vs Value” report, an average full remodel of a bathroom costs around $20,500, while an upscale remodel can cost $60,000 or more.
The predicament is that a high-end bathroom doesn’t increase your property’s value or appeal as you’d wish it did. Tenants are eyeing for rental homes that have a reliable level of caliber throughout. Conditional on the market, this could tell various things. But if your property has luxury bathrooms but less-than-luxurious features in other rooms, instead of obtaining more rent you might end up pushing prospective tenants away. This is because tenants often glimpse inconsistent quality from room to room as a sign that the homeowner has limited cash, which hints at red flags for maintenance and repair issues.
You might also be bewildered to learn that various renters don’t want the high-end upgrades that many homeowners think they want. This is because tenants are never happy to invest their spare time and effort it takes to sustain expensive things. Like for example, you may spend thousands on a whirlpool tub or other upgrades that a renter may never use. Many high-end construction materials are also undoubtedly run-down, producing far more costly repairs than other, more tough products. With so much that can outflow or succumb in a bathroom, it makes sense to opt for materials that look nice but will still endure under less-than-mediocre circumstances.
Creating a bathroom with an upgraded feel (but without the upgraded price tag) can be an equally unchallenging technique. The ploy is to concentrate on the upgrades that will make the bathroom feel updated without requiring a complete overhaul. For example, an awesome paint job and some new fixtures will go a long way toward introducing a fresh and modern bathroom, as will merely changing the grout and caulking. Light fixtures, drawer pulls, and towel racks are small upgrades that can give a high-end feel to a room. For bathtubs and showers that are disgusting or not fully useful, try installing a new one-piece tub and shower surround unit. Durable and affordable, they are swift to install and easy to maintain. Higher-end units can give a bathroom an upgraded feel without the requirement for a custom tile job.
Knowing which bathroom upgrades will help you create the rental property your target demographic is looking for can be a challenge. But Real Property Management Avitus can help. We have the involvement and resources you need to decide which bathroom upgrades will both increase your property values and appeal best to prospective tenants in Houston and can help substantiate that the work gets done in a timely and budget mindful method. For more information or to learn about our comprehensive property management services, contact us online or call us at 281-570-6357.
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