On each flip project, you need to decide whether or not to remodel your bathroom. It is always difficult to make a decision on the bathroom of investment property because someone else is going to live there. Many would not consider bathroom remodeling of resale homes as a wise decision, whereas others may not have any issues in remodeling the bathroom of their investment properties. It is important for a person to understand whether bathroom remodeling would yield any profit on its own, or at least contribute to the overall profit. Let’s discuss some pros and cons of bathroom remodeling of an investment property.
- The first benefit of bathroom remodeling is that you get that wow factor. Of all the rooms in the house, the bathroom is one of those rooms that you need to be in the best of shapes. The bathroom should be impressive because that will compel buyers really consider your property. I cannot say about others but I pay attention to the condition of the bathroom because a beautifully made bathroom enhances the time I want to spend alone.
- It is not always that you have to remodel the entire bathroom but sometimes, replacing certain components will do the job. But, that is something you can only tell after analyzing the condition of a bathroom.
- A poorly maintained bathroom will attract fewer buyers, and even if you get some buyers, then they will quote a lower price than what you were demanding as the rent. So, you can clearly see that the condition of your bathroom directly affects the value of your property. Therefore, it is better to remodel your bathroom in order to increase your chances of getting the best rental value of your property.
The bathroom remodeling for an investment property has some cons as well, the first one being the cost and second is the impact of poor remodeling job.
If you are contemplating a bathroom-remodeling project then you must consider the following points because the points main force you to rethink your decision.
- The biggest drawback in bathroom remodeling is the cost, especially if you are opting for premium fixtures.
- Bathroom remodeling is not as that of remodeling the bathroom of your own house. The remodeling should be done keeping the motive of reselling the property in mind because after all you are doing this for profit.
- You should keep in mind that your bathroom remodeling is just to attract the buyers because if you start implementing your ideas in order to make a masterpiece, then you will end up spending not more money than you initially planned to spend. The best thing that you can do is identifying the areas in your bathroom that either need to be repaired or replaced. Begin with fixing those areas, and you will be able to save a lot of your time as well as money.
- A beautiful bathroom will increase the value of your property is not a certainty. If it can happen then that’s great, but what if it doesn’t? At that time, all the time and money you have invested will go in vain. This is a big risk associated with the bathroom remodeling of an investment property.
So, these were some of the pros and cons associated with the bathroom remodeling of investment property. Now, you can decide whether you want to go for bathroom remodeling or try to attract buyers with the current condition of your bathroom