Five Upgrades For Panama City Beach Rentals
Five Upgrades For Any Panama City Beach Rental
Beach Properties of Florida says that vacation rentals in Panama City Beach, condos and single family homes combined, are giving investors more than a 98 percent return when buying.
This staggering figure is a welcome relief for locals that want to invest in a house and use it to generate a regular income.
Rental investors that plan to fix up homes and market them as vacation rentals are cashing in with smart renovations and updates that have online tourists clambering to book the property before someone else does.
While you can add a new coat of paint to the front door for a quick equity boost and better curb appeal, this will only bring a small return. To get the most money back on your property, vacationers enjoy using fancy washers and dryers.
Installing features renters want in a rental like a dishwasher in the kitchen, adding a gourmet stove, a brick pizza oven, or a massive island can give you as much as 80 percent of your investment back says U.S. News. The key is only to upgrade the appliances and fixtures.
A huge remodel will lower what you see in the end, so it is best to refinish or paint the cabinets and add some style or gourmet upgrades.
Outdoor living spaces
There are tons of ideas for making the yard an inviting and useful space for vacationers in your Panama City Beach home. Panama City real estate with outdoor square footage is a premium in any market, so you may want to consider activity areas for volleyball, corn hole, or bocce ball. Other items you may include to get a good return include:
- Breakfast patios
- Private gardens
- Fire pits
- Hot tubs
- Swimming pools
- Sprawling decks
- Tanning areas
- Serene gardens
- Yoga space
- Massive barbecue areas
Toys, games, boat access, and fun rooms
Whenever anyone goes on vacation, exciting amenities are the first things he or she looks for in a rental. Adding a pool table to a lower level room gives vacationers a place to relax after spending the day on the beach.
Access to boat slips and docks saves fees at the marina and gives boaters a private place to dock after fishing or exploring the waterways.
Foosball, pinball machines, video games, digital televisions, a projector, ping pong tables, and air hockey are items that top real estate agents recommend using to entice guests to reserve a stay at a home in this beach city.
When you want to sell a home, one way to make sure that you get top dollar is to transform a single-family property into a rental unit. More and more people are bringing pets with them on vacation. Be sure that you do not alienate this demographic.
It is best to upgrade small comforts for dogs or other pets. A dogie door, tile or scratch resistant laminate wood-style floors, and hidden feeding dishes are just a few things you can do to make these guests feel at home and ready to book another stay.
Spa bathrooms for a luxurious retreat feeling
If you want to get mass appeal, then remodel your bathroom to look and feel like a day at the spa. One of the main things that vacationing guests want to do when staying in the area is to relax.
Time away from home, work, school, and stress means soothing comforts and time to unwind. A jetted tub, huge shower, adjustable LED lighting, and radiant floor heating are some things that will bring you big bucks in the end. Consider installing a shower bench in larger units.
Multiple shower heads, aromatherapy equipment, sound machines, and waterproof televisions are other options to consider. Instead of marketing your home as a house for sale, a little extra time and renovating on your fixer upper vacation home can net you big bucks.
Panama City Beach is the top destination for ROI if you want to invest in houses that you can flip as vacation rentals.
When you want to get the most out of your property, contact your local realty broker, then consider sensible upgrades that vacationers will want to use.