You’ve decided you want to rent out that beach house as a vacation rental. Nice job—turning a property into an extra source of income can be a game-changer for the retirement account or the family Mad Money. If you’re hoping to get the best possible return on your investment, consider these three tips on remodeling your property as a successful vacation rental.
1. Plan Before Your Purchase
When you’re getting ready to remodel, your eyes will notice everything that’s available out there: big sales, unique fixtures and one-of-a-kind antiques you fall in love with. Don’t run out and buy everything that catches your eye (or your checkbook). Instead, start with a plan. Look at the most important items on your list and make sure you account for those first. You will save time, money and headaches by writing down a plan for your remodel.
2. Appliances Are Great Investments
And necessary upgrades if it has been a while. Remember, though, this is a vacation home. Things need to be easy to use, easy to clean and in perfect working order. Make sure the refrigerator, stove, washer and dryer are all in excellent condition. If you need to upgrade, consider environmentally-friendly appliances. You’ll appreciate the savings on operating costs, and your guests may give you bonus points for caring about the planet.
3. Focus on the Kitchen and Bathrooms
These are two spaces in the house where adding convenience, and even a little luxury, will pay off. Preparing meals should be a time of togetherness and laughter. Your morning shower can set the tone for the whole day. Likewise, making sure your kitchen is well-stocked, easy to navigate and offers ample room for family and friends to join in is a win-win plan. For bathrooms, use skid-free materials, easy to clean surfaces and offer an enjoyable bath or shower. A jet-stream tub, walk-in shower with multiple showerheads or even a sauna—all of these elevate the luxury and raise appreciation and enjoyment levels to the max.
If you’re exploring the idea of finding a property that can double as a vacation rental, talk to the experts at Network Title. Our team provides experienced title services for the ever-changing real estate market and high-quality service for all of your title needs. Get in touch with us today!