When upgrading a property for maximum return on investment, bathroom remodels are arguably among the safest and most valuable bet, in terms of interior investments anyway. Whether it’s a project you intend to do yourself or whether you’re planning on hiring a professional, there are some points to consider before tackling a bathroom remodel.
A key point to take into consideration is the neighborhood. If the property you’re fixing has just one bathroom, think about either adding another one or perhaps a half bathroom. Buyers will be much more forgiving if there is something dated about the property than if it has just one bathroom. Examine the price points and style so that you don’t overdo it with upgrades or go with something that clearly looks like it doesn’t belong in the home.
If you can’t decide what items to upgrade in the bathroom, here are a few you may wish to address. The vanity and mirror are among the first things people see when they walk into a bathroom, so it may be a good place to start. The lighting will also play a role in the look and feel of the bathroom, so perhaps swapping the brass for something newer and with better energy efficiency will deliver a better bang for the buck. A walk-in shower, a new paint job, a high efficiency toilet, take the time to carefully evaluate what upgrades will maximize your ROI.
This update is by Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money loans Miami, please call 954-816-0388 or fill out our hard money loan application.