Do you want to remodel a home that you both use and rent out to short-term vacationers for income? If so, your renovation plans must balance the family's needs and what attracts potential renters. Discover five tips to help you get the most out of your remodeling budget.



1. Make It Low Maintenance

A low-maintenance home is important for any owner who plans to rent it out for any length of time. The less maintenance you must do, the cleaner and more tidy the rental will look. This also means you spend less time and money fixing and keeping up things. And finally, you can more easily manage the rental when you live elsewhere — especially if you are a snowbird up north.

Low-maintenance renovation options come in many forms. These options include tough and reliable flooring and countertop materials, updated appliances, less clutter on the floors, stain-resistant paint, hardy exteriors, and modern utility fixtures. This also involves keeping the design simple so cleaning is easier and fewer things need maintenance. 

2. Boost Curb Appeal

The first impression renters get makes a big impact on whether they book your home and whether they return. How can you make your place more appealing to vacationers? Should you spend some of your renovation budget repainting the exterior, fixing the roof, adding a welcoming porch, or giving the exterior architectural charm?

Honestly assessing your own home can be challenging. You must look at your home from the perspective of someone deciding between your rental and a competitor. If you have trouble with this, ask for help from friends or even a professional contractor.

3. Stick to a Budget

Remodeling can easily get out of hand and go over budget. How much of a problem this is depends on your own financial situation and your rental income. If you rent out the house primarily to keep it occupied while you spend the summer in cooler climates, going over your budget may not be a big deal. However, if your goal is to have the rental income pay for the house's expenses, set a budget and stick to it.

4. Don't Overpersonalize

One of the biggest challenges when remodeling a dual-use home is how much of yourself to put into it. You likely want the home to be suitable for your style of living and enjoyable for the family, but you also should maximize its appeal to renters.

The key is to avoid personalizing the home too much toward your own use. Instead, think about universal appeal. You may not ever use a bathtub, but might your guests want to take a bubble bath? If so, find a compromise that allows you to design a bathroom with features you want and also features renters expect.

5. Look at Kitchens and Baths

The kitchen and bathrooms are usually good places to start with renovations. A dated kitchen or bathroom or one that does not appear sparkling clean will often turn off renters. If your remodel budget is limited, this is a good place to put the money. They are rooms you and your family use all the time, and they are something that renters look for. Everyone wins.

Are you ready to start planning the renovation of your Florida dual-purpose home? No matter what your rental plans are and how you use the property the rest of the year, the best place to begin is by consulting with Genuine Home Builders, Inc. We will work with you to identify your needs and goals, and then we will help you meet them successfully. Call today to make an appointment.