Why it is Important to Upgrade Your Vacation Home

If you ask any real estate agent what upgrades will yield the best return on your investment when you sell a property, they will almost always tell you to focus your remodeling efforts on the kitchen and bathrooms.  Making improvements on a rental property can also help you with a great return on your investment.  Every upgrade you make will allow both you and your guests feel more at home and comfortable in your property.  Upgrades will capture the attention of prospective renters and give your home a wider appeal.  Not only do guests appreciate upgrades, but it also helps them to see the care and attention that you put into your property.  Guests that connect emotionally to your property can become repeat visitors who may recommend your property to even more potential visitors!

The following are among the most common suggestions and requests from guests:

  1. Think about the addition of flat-screen LCD or plasma TV’s.  This can be a great feature for families and friends traveling together, and it creates extra space in your property by eliminating the need for an entertainment center.
  2. Consider replacing your bedding every few years.  Replace outdated or worn comforters and pillows with fresh, relaxing or brightly colored accents.
  3. Color is always a great way to update your property at a minimal cost.  Accent colors photograph well, and make your property stand out among the competition.  Deep, rich colors photograph well and make the property appear more desirable  in advertisements and online listings.
  4. Resist the temptation to use 2nd hand furniture! Consider spending on a comfortable sleeper sofa and matching loveseat.  This investment alone will increase the appeal of your property!
  5. Common amenities that guests look for in a vacation rental include hair dryers, crock pots, irons and ironing boards and large pancake griddles.

Even if you aren’t planning a complete remodel, simply concentrating your efforts on a few key improvements can lead to cost effective ways to increase the number of rentals in your property.