How Bathroom Remodeling Can Boost Your Rental Property
For most landlords and real estate investors planning to remodel a rental property, the majority of their focus is on a home’s kitchen and other common living areas. This article dives into why you should consider upgrading and renovating your bathrooms as well! Remodeling bathrooms can significantly improve your property’s appeal and attract more prospective renters — and all for a much smaller price tag!
What are the benefits of bathroom remodeling?
If you look at most rental property bathrooms, you’ll be disappointed to find how neglected they are. Bathrooms shouldn’t be an afterthought! Many renters think of this room as a safe space where they can take a break from their lives and pamper themselves. Consider an update to make it feel more luxe and more importantly, to help make your property stand out.
A new bathroom leads to instant appeal! You can proudly feature photos of an updated bathroom in rental property listings and you’re sure to get additional attention and interest from prospects.
Unlike many other renovation projects, a cosmetic bathroom refresh is something that many landlords can do on their own. This makes it more cost-effective and also ensures that you have control over the project.
If you’re considering selling your property soon, an upgraded bathroom will definitely increase the property value. The benefits are two-fold: you get value both immediately and down the line because you can list the property at a higher rental rate now and also up the sale price in the future.
5 Practical Bathroom Remodeling Tips
Here are some tips to make sure your bathroom refresh is cost-effective and can help you maximize your return on investment:
Set A Budget
No matter the project, you need to set a firm budget. Regardless of whether you’re just upgrading cosmetic items or gutting the entire room, a budget helps guide your decisions and keeps you from losing money in the long run.
Replace Your Vanity
Dated bathroom vanity designs often hold back a bathroom’s appearance. Luckily, replacing old ones with modern bathroom vanities is easier than ever! You can quickly purchase complete sets that have the vanity, sink, faucet, and countertops included. If you’re planning on redoing the floors as well, make sure you remove the old vanity first! This is so you don’t encounter problems if your new vanity is a different size.
Let’s face it: old and dated tiles are a very obvious sign that a bathroom needs to be remodeled. Thankfully, updating your bathroom flooring it’s also one of the fastest and most budget-friendly ways to modernize your space.
Ripping up the current tiles and retiling the floor with a more appealing design is one option. But more often than not, you don’t even have to go that far since the actual removal can be a very time-consuming job. Instead, consider installing vinyl flooring directly on top of the old tile!
Upgrade Your Mirrors
Refreshing your bathroom mirror can make a significant visual statement without breaking the bank. Homes often originally come with cheap and frameless mirrors, so one way to update them is to simply frame them out. Measure the mirror and cut material to form a frame around it. If you choose wood, you can even paint or stain it in any color you’d like!
Another option is to take out the old mirror and install one or two standalone mirrors that you can hang above the sink. Depending on how the last mirror was attached, this may involve some drywall repair and painting.
Update Bathroom Hardware
You don’t have to make huge changes to your bathrooms to give them a fresh aesthetic. Updating your bathroom’s visual style can be as simple as replacing the current hardware. Shower heads, drawer pulls, faucets, towel racks, and other bathroom accessories are very simple to upgrade and easy on the budget. With so many design options available, you can go in any direction you want!
As a landlord or real estate investor, it’s important to always think about how you can improve your property’s value and appeal to prospects so you can ensure better profitability and rents, as well as low vacancy rates. Visit the Anve Kitchen and Bath showroom to view our products in person or shop online to make sure your next bathroom remodeling project meets your budget and quality expectations.