After the kitchen, bathroom upgrades are the number one territory where new rental property owners blow far more money than they should. Why? Because they assume that a high-end bathroom will intuitively progress into increased rental rates. But that is notably the opposite. Usually, that expensive bathroom remodeling project does little to increase your rental rate or your property values. To maximize both rent and value, less expensive and more durable options should be your emphasis. Installing your dream bathroom in a rental property is one fault you can and should bypass.
Updating your San Tan Valley rental property is something that takes an ample amount of budget-conscious planning to get perfect. Alternatively, you’ll drop money for upgrades that won’t get you the return you’re chasing for. Unbearably, the bathroom is the one room in the house where this is commonly the state. New property administrators may assume that they should completely gut and re-do every bathroom in their rental house to get that boosted feel. But going down that journey will cost you. As specified 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 setback is that a high-end bathroom doesn’t improve your property’s value or appeal as much as you’d assume. Tenants are looking for rental homes that have an unchanging level of class throughout. Reliant on the market, this could mean different things. Although if your property has luxury bathrooms but less-than-luxurious features in other areas, rather than getting more rent you might come across as pushing prospective tenants away. This is because tenants routinely look at inconsistent quality from room to room as a mark that the landholder has limited cash, which shows red flags for maintenance and repair issues.
You might as well be astounded to recognize that lots of renters don’t want the high-end upgrades that scores of homeowners dream about. This is because tenants are not passionate about devoting their extra time and effort it takes to maintain high class materials. For instance, you may spend thousands on a whirlpool tub or other upgrades that a renter may by no means use. Plenty of high-end construction materials get easily broken, causing far more pricey repairs than other, more longer-lasting products. With so much that can leak or fall apart in a bathroom, it fits to select materials that look pleasant but will endure less-than-perfect circumstances.
Creating a bathroom with an upgraded feel (but without the upgraded price tag) can be a relatively breezy methodology. The idea is to consider the upgrades that will make the bathroom feel updated without having to carry out a complete overhaul. For example, a good paint job and some new fixtures will go a long way toward establishing a fresh and modern bathroom, as will updating the grout and caulking. Light fixtures, drawer pulls, and towel racks are small upgrades that can give a high-quality feel to a room. For bathtubs and showers that are despicable or don’t work well, think about setting-up a new one-piece tub and shower surround unit. Durable and affordable, they are simple to install and easy to maintain. Higher-end units can provide a bathroom an upgraded feel without the need for a custom tile job.
Discerning which bathroom upgrades will help you develop the rental property your target demographic is looking for can be a burden. But Real Property Management East Valley can help. We have the skills and facilities you need to detect which bathroom upgrades will both increase your property values and appeal best to prospective tenants in San Tan Valley and can assist you in ensuring that the work gets done in a timely and budget-conscious manner. For more information or to learn about our comprehensive property management services, contact us online or call us at 480-981-7000.
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