3 Ways to Upgrade Your Bathroom to Improve Rental Value
Your tenants may spend more time in other parts of the house than the bathroom, but an excellent bathroom is going to catch their eyes and help drive up the value. They might be visualizing how their furniture looks in other rooms, but when they hit the bathroom what they see is what they get. Consider these three bathroom upgrades to give prospective tenant's an experience that has them signing on the dotted line.
1. Replace the Fixtures
Replacing the fixtures in the bathroom is an easy DIY bathroom upgrade that you can do with almost any level of technical skill. Spruce up the look of your bathroom and replace your faucet, drawer handles and show header with a set of modern fixtures. Replacing hardware is an affordable and quick upgrade that can have a huge effect on presentation. Replacing fixtures also helps you combat gunk that gets caught under faucet handles and in shower heads as you go from tenant to tenant. For a slightly higher rent price, your new tenant gets a fresh look and a completely clean bathroom.
2. Add Updated Tile
The bathroom tile makes up a significant amount of the visual appeal in the bathroom, so making a change here helps it become significantly more appealing in most cases. Some of the most artistic options may add character and charm to your home, but if you're looking for increased rental value in the long term you want to stick with classic colors that have universal appeal. Black and white provide a good base for tenants to build on with their interior decorating, as it matches bathroom accessories and shower curtains of almost any color. Unless you have a significant amount of experience in this skill, updating the tile is typically a job better left for the professionals. While replacing the tile will offer the best upgrade, you can also paint the current tile to offer tenants a more updated look.
3. Incorporate a Half or Full Bath
The only thing better for a tenant than an upgraded bath is an apartment that has upgraded to have an additional bathroom. Unless you have bathrooms for every bedroom and then some, chances are potential tenants are going to appreciate more bathrooms. This is particularly the case if you are renting in an area that has a significant amount of families renting out the place, or you're in a location known for roommate-heavy living. If you don't have room for a full bathroom, at least consider a half bathroom in the place of a closet. Most tenants can find another place to store their boxes and coats, but saving them from the trouble of waiting for the bathroom in the morning is significant and plays a big factor in their rental selection. If you plan to include another bathroom in your rental property, you will need to help of a skilling professional, as the plumbing and other systems need incorporated into the room.
No matter which renovation you choose, bathroom upgrades are sure to have a positive impact on your rental bottom line. Some upgrades are easy to experiment with as you can DIY them, but others require more thought due to the cost and professional contractor requirement.
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