In a competitive rental market, Macungie property owners occasionally take into consideration that building a dream kitchen can possibly aid them to attract higher-paying tenants. Although the kitchen is an essential detail of every rental home, high-end or luxury upgrades rarely result in a higher rental rate. Until your whole rental home is equally upgraded and in a market that may support higher rent, the best choice is to create a kitchen that presents less expensive and more durable elements.
Homeowners frequently dream of upgrading their kitchens with high-end cabinets, appliances, countertops, and flooring. Nevertheless, what is commonly sure of expensive materials such as granite and hardwood is that they are readily damaged and generally need way more effort to maintain. Conceding that a homeowner will perceive such features are worth living in a beautiful kitchen, a tenant doesn’t often think in the same manner. Materials that are costly to repair or replace or that are quickly busted are not an ideal choice for a rental home, partly since they increase your maintenance costs and also due to the fact that tenants may not desire the obligation of maintaining that level of luxury.
There are several explanations as to why creating your dream kitchen is not the best project for your rental property. Tenants are normally enticed to rental homes designed and built to reduce the amount of upkeep needed. Despite that, they do still require quality appliances and updated features, tenants are highly inclined to see a high-end kitchen as more of a hassle than a bonus. For this reason, even when it seems for you that a high-end kitchen will allow you to charge more in rent, your tenants may perhaps not be ready to pay a higher rate for that feature alone.
Various concerns can come about if the kitchen you are planning to remodel doesn’t match the quality of the rest of the rental property. Inconsistent upgrades may be a considerable concern for a rental property. A home with a charming kitchen, however, it has dingy, dated bathrooms or worn carpeting could indeed raise red flags for a prospective tenant. They will look at the rental house as an unfinished project, not a complete rental home ready to be lived in. Upgrading one room in the house also does little to increase your property values, particularly if the home is not in an upscale area.
Rather than spending big on a high-end kitchen, consider accomplishing some simple updates. An inexpensive and durable countertop and floor, a matching set of new appliances, and some new fixtures could make an older kitchen feel fresh and modern. Worn cabinets might be painted or resurfaced to produce a whole new look for a fraction of the cost and perhaps quickly bring a dated kitchen into the present. Such little details like a new light fixture and drawer pulls can bring appeal and a new atmosphere to a room. Moreover, you won’t feel anxious whether your tenant will destroy your expensive tile, stainless steel appliances, or granite countertops.
The final outcome is that unless you have the budget to finish high-end upgrades consistently in quality and style throughout the whole investment property, the clever option is to stick with quality mid-range improvements. Moreover, it could be tedious to be aware of which upgrades will add value to your rental property and correspond to rent increases. Why not ask the professional Macungie property managers at Real Property Management Lehigh Valley to aid you? Our industry specialization and expertise, as well as prime remodeling contractors, could support you in identifying the more suitable methods to enhance your rental property in order to maximize your rental rates and multiply your property values. Contact us or call us at 484-544-3351 for more needed information.
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