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We just finished completely remodeling our guest bathroom for our 2 private rooms we Airbnb , we spent around $3000 , new toilet , sink , new tiled shower and floors. Ofcourse it was paid with the money we have earned with Airbnb
So what big renovations have you done to your home and has it paid off and how much did you spend ?
My Veranda was totally renovated, I have added 4 pergolas lots of plants and flowers , a gardening watering system , tiles on the floor , wooden table with chairs and much more.
It is the main part of my listing of course and worths every euro and time spended.
I totally approve your investment , in that way you raise bookings and you show to your guests care and respect (they totally understand it and appreciate it be sure of that)
I totally remodeled my rental house, new shower, new toilets, new tile floor, took all carpet out, put in wooden floor, kitchen I painted the cabinet, new counter top, new sink, faucet and all new appliances. Cost about $10k.
I spent $16k adding a porch, separate entrance, ensuite bathroom, and entryway, painting the guest room, adding a closet, ceiling lights and fan. This year I added a microwave and small fridge. There is still a door into my space but it’s locked most of the time. It’s been worth every penny. I’ve doubled my booked nights, I’m getting more couples, so a higher rate, and more 2 and 3 nighters. It’s not just the dollar ROI, it’s also made it easier for me and I’m enjoying it more without having to worry about people in my home while I’m not there. I also board dogs so I had to balance the two things differently when they entered through my house. In talking with guests about why they chose my place I have learned that people love having a private entrance, ensuite bathroom and fridge and microwave. Bathrooms are expensive additions but if anyone can add a private entrance I recommend it.
There was a similar thread not too long ago. I suggest reading through it - there were some great observations shared.
There are limits to the kind of return you can expect in a very, very tight market. I added on a whole addition and not only did I NOT see a significant increase, I saw my rate go down due to increased competition in my area. Thankfully, this is my home and not, strictly speaking, an investment property.
I have spent about 2000 euros on my listing since we started in July 2016. Since then i have hosted 16 trips and have attained superhost status for a second quarter in a row with a 4.9 average rating. While i have not recuperated the money yet, i am halfway there and with the busy seasonal season approaching i am hopeful i will make a profit this year. I even got a booking for august now for double the price that i started last year (40 euros).
What worries me is simply the amount of terrible cheap airbnbs around my city that hinder my bookings. I offer quality and hospitality though so i am not going to drop to ridiculous levels. Air recommended to drop my nightly price at 11 per night…
So far though it has been a great investment and all my guests have been absolutely incredible people and that is reflected in the reviews. It is great to read everyone’s thoughts and investments. Sorry if i got offtopic slightly.