In a competitive rental market, Houston Heights property owners sometimes believe that building a dream kitchen should enable them to attract higher-paying tenants. Though the kitchen is a significant aspect of each rental home, high-end or luxury upgrades rarely result in a higher rental rate. Unless your overall rental home is upgraded as well and in a market that could support higher rent, the ideal course of action is to create a kitchen that promotes less expensive and more durable elements.
Homeowners usually dream of upgrading their kitchens with high-end cabinets, appliances, countertops, and flooring. However, what is particularly a true fact about expensive materials such as granite and hardwood is that they are readily destroyed and regularly involve many additional chores to maintain. Despite that a homeowner may think such extra efforts are worth living in a beautiful kitchen, a tenant doesn’t always think in a similar way. Materials that are financially excessive to repair or replace or that are easily broken or damaged are not a helpful choice for a rental home, to some extent by reason that they increase your maintenance costs and also partly because of the fact tenants may not desire the added responsibility of maintaining that level of luxury.
There are lots of reasons to explain why creating your dream kitchen is not the best project for your rental property. Tenants are commonly drawn-in by rental homes fashioned to reduce the amount of upkeep necessitated. Although they do still desire quality appliances and updated features, tenants will, in all probability, see a high-end kitchen as more of a hassle than a bonus. Accordingly, even if you might be sure that a high-end kitchen will give you a reason to charge more in rent, your tenants may not care at all to pay a higher rate for that feature alone.
Some challenges may also occur if the kitchen you are planning to remodel doesn’t match the quality of the rest of the rental property. Inconsistent upgrades might be a big challenge for a rental property. A home with a fine kitchen but nonetheless, dingy, dated bathrooms or worn carpeting will definitely raise red flags for a prospective tenant. They may inadvertently think of 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, specifically if the home is not in an upscale area.
In place of spending big on a high-end kitchen, take on completing certain simple updates. An inexpensive and durable countertop and floor, a matching set of new appliances, and some new fixtures can absolutely make an older kitchen feel fresh and modern. Worn cabinets may be simply painted or resurfaced to generate an all-new face for a fraction of the cost and may quickly bring a dated kitchen into the present. Even adding small details like a new light fixture and drawer pulls can give a new feel to a room. Furthermore, and what’s more important is that you won’t waste time fretting whether your tenant may cause costly damage and harm to your expensive tile, stainless steel appliances, or granite countertops.
In the end, unless you have the budget to accomplish high-end upgrades that are consistent in quality and style all through the entirety of an investment property, the ideal solution is confining your efforts to quality mid-range improvements. Additionally, it could be laborious to ascertain which upgrades will add value to your rental property and correspond to rent increases. Why not allow the professional Houston Heights property managers at Real Property Management Heritage to help you deal with it? Our industry proficiency and top-notch remodeling contractors will guide you to know the appropriate ways to develop and improve your rental property to make the most of your rental rates and raise your property value. Contact us or call us at 832-449-5263 for more valuable information.
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