Ep 12. Vacation Rental Renovations

Bang For Your Buck is a popular TV show that evaluates various home renovation projects in terms of their cost and value. In season 7, episode 12 we dive into the world of vacation rental renovations.

Vacation rental properties are booming in popularity. Many people host tourists through services like Airbnb and VRBO. Since these rental properties are a source of income, they need to be well-furnished, in great condition, and decorated with modern styles in order to attract more guests and receive a higher rental fee.

In this episode, the Bang For Your Buck team focused on three different vacation rental renovations: a historic beach house in North Carolina, a colorful Miami condo, and a charming Texas cottage.

The first renovation project was a historic beach house built in 1928 located in North Carolina. The renovation work focused mostly on the exterior of the building, with fresh paint and landscaping giving the property a charming, inviting look. Some work was also done on the interior of the home, with updates to the kitchen and bathrooms as well as refreshing the bedrooms. The renovation was done on a budget of $60,000 dollars. Now, the renovated beach house attracts more customers due to the inviting look and modern conveniences. But the question remains: how much more rent can the owner charge due to the renovation?

The second property renovated was a colorful and bright Miami condo. The property owners stayed within the same budget of $60,000 dollars, but the renovation focused more on the interior. The condo had a quirky design, but it was a little dated and in need of a fresh touch. The renovation included updates to the flooring, lighting, and the furniture. Some of the walls were updated with a fresh lick of paint, and some new window treatments were added to give the condo a cozier feel. The final results looked incredible, and this colorful Miami condo is now worth more than the cost of the renovation.

The third property was a charming Texas cottage that left plenty of room for the imagination. Unlike the other two properties, this cottage had a larger budget of $100,000 dollars. The main focus of the renovation work was to create an open living area, a larger kitchen, and a larger master suite to attract more customers. Additionally, the cottage was given a new modern look with a fresh coat of paint, new landscaping, and furniture. The final results were remarkable, and the cottage underwent an extraordinary transformation.

The three homeowners took different approaches to their renovation projects. The historical beach house renovation focused mostly on the home's exterior and refreshing the interior spaces. The Miami condo renovation worked on the interior, making it more modern and appealing. Finally, the charming Texas cottage received updates to the interior, including spacious rooms and an open layout that maximized the living space.

The Bang For Your Buck team is tasked with calculating the worth of each of these renovated properties. To weigh the bang for their buck, the team evaluates the budget allocated for each renovation project, the condition of the properties before the work was done, and the nature of the project. They pay special attention to the change in perceived value of each property, as it is this perception that will determine the future rental rates for the properties.

Overall, the team found that each of these renovated properties presented its own set of challenges and opportunities. The historical beach house renovation turned out successful due to the homeowner's investment in fresh paint and landscaping, as well as the interior updates. The Miami condo renovation was a bit of a challenge due to the unique and colorful design of the space. However, it ultimately turned out to be a great success, as the modern updates improved the property's overall perception and value. Finally, the Texas cottage renovation received a boost from the larger budget, allowing for maximum utilization of space and build quality.

In conclusion, season 7 episode 12 of Bang For Your Buck offers some exciting insights into the world of vacation rental renovations. The episode offers something for everyone, from the historical beach house renovation to the bright and colorful Miami condo renovation. Each of the property renovations presented unique beach-vibes and added something different to the final product. Anyone looking to renovate their vacation rental should check out this episode of Bang For Your Buck for some inspiration.