When you’re looking to sell your beach condo or convert it into a Myrtle Beach vacation rental, a complete overhaul isn’t necessary. In most cases, a few updates and upgrades get you more bang for your renovation buck than a major redo. If you’ll be using your beach condo as a vacation rental, you might be wondering if it’s worth spending the money on updates. Yes! The more 5-star reviews your property gets, the more bookings you’ll have. The more bookings you have, the more “in-demand” your vacation rental is and the more you can raise your rates. Let’s explore the best places to spend your renovation budget:
1. The Bathroom – The bathroom is one of the first rooms to be updated when prepping to sell but one of the last rooms to be updated when converting to a vacation rental. Why? Many vacation rental property owners assume that as long as guests get a nice hot shower with good water pressure, that’s all that matters. While an outdated old bathroom that provides a decent shower might not earn negative reviews, it’s not going to help get those 5-star reviews you need.
If you have room in your budget, updating the bathroom to an ADA-compliant handicap-accessible bathroom will give you the biggest long-term return on your investment. A vacation rental with a handicap-accessible bathroom is not common so this feature will stand out. Anything that makes your vacation rental unit stand out gives you room to raise your rates.
If your budget is too slim to go the handicap-accessible route, there are still affordable updates you can do to make the bathroom worthy of a 5-star review. These updates include a fresh coat of paint in a light color, update lighting fixtures for modern style and brighter light, replace plumbing fixtures in sink and tub/shower, replace worn out flooring with affordable tile and make sure your plumbing is up-to-date for the best shower experience. Add plenty of fluffy spa-like towels and your guests will feel pampered (and positive).
2. The Kitchen – The kitchen should be no surprise. The old saying that kitchens and bathrooms sell homes is more or less true. The main reason guests give for choosing a vacation rental over a hotel is because they like having access to a full kitchen. The good news is that a few updates can make your kitchen shine without the need for a major overhaul. Replace worn out linoleum flooring with affordable, yet upscale-feeling tile. If the cabinets are damaged, seriously outdated or chipped and showing considerable wear, replace or reface cabinets. Repair and refinish counter tops, update appliances as necessary and swap out lighting for modern room-brightening fixtures. The final touch is making sure the kitchen is well-stocked with dishes, utensils and cookware.
3. The Bedrooms – The most surprising room that can make or break your efforts to convert your beach condo into a superstar vacation rental is the bedroom (or bedrooms). A good and comfortable night’s sleep is the thing guests remember most. The more the bedrooms “feel like home”, the better. Skip the cheap furniture and spring for good quality mattresses, bed frames and night stands. Select modern and comfy bedding and include plenty of extra pillows. Switch out window treatments for light-blocking blackout curtains so guests can sleep in late – an often overlooked detail that makes a big impression with guests.
Whether you plan to sell or plan to use your beach condo as a vacation rental, you can maximize your profits with a few strategic updates. A full-on major renovation isn’t necessary and most experts advise against it. A few repairs and replacements and you’ll be reeling in the 5-star reviews (or excited buyers) without breaking the bank.