5 cost-effective bathroom upgrades to add value
The bathroom is a room which can sway a potential tenant; no-one wants to start their day in a poorly maintained bathroom.
But it’s important not to over-capitalise. A full renovation can be expensive, however, there are some simple cost-effective changes you can make to transform the bathroom into something more functional and attractive.
As well as being tax deductible, the updated bathroom will add value and potentially increase rental returns; some research suggests an updated bathroom could increase the weekly rental income by up to 10 per cent.
Here are five upgrades you can make to transform your bathroom:
1. Increase storage
The bathroom seems to be the one place in the home that never has enough storage space, but there are ways to increase the storage options even in a small bathroom.
Look at where you can put additional shelving and add wall hooks to hang towels or robes. Towel racks are another option. To further increase storage, install a medicine cabinet above the sink.
2. Energy saving upgrades
With energy costs rising, and people wanting to reduce their impact on the environment, tenants are increasingly looking for ways to save on their energy consumption.
To save energy, change traditional light bulbs for LED ones; as well as lasting up to 25 times longer than other light bulbs, they use approximately 75% less energy.
Install water-saving shower heads, low-flow taps and timers. Also consider replacing a single-flush toilet with a dual flush.
3. Update the vanity
A quick and easy way to transform the bathroom and give it a more modern touch is to paint the vanity and update the handles.
Alternatively, replace it completely.
4. Replace the fittings
While it is possible to remove scum and calcium build-up from faucets, an easy fix is to change them completely for a more modern look.
Also consider replacing the shower screen; the right shower screen can make the room feel larger and brighter.
5. Spray paint tiles
Re-tiling a bathroom can come with a hefty price both in terms of time removing the tiles and the cost of buying new ones, and putting them on.
While you can paint them yourself, and there are some nozzles you can use to spray-paint tiles, there are professional companies offering this type of service; it may be worth considering using them to spray paint the sink, bath and shower too.
If you’d like to know more about how you can enhance your property to increase rental return, our property management services, or just about how property investment works and how it can help you reach your financial aims, please get in touch.
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