Home Renovations for AirBNB Income
Renovating your home as a ‘side hustle’ can be an effective way to supplement your income and homeowners are discovering new ways to make their home viable for vacation sites like Airbnb, Homeaway and VRBO. Making home renovations for AirBNB income can be a smart investment. After all, Airbnb hosts average more than $500/mo from their gigs. Is your home ready to accommodate guests? In this article, we’ll explore the most common home improvements you can make for this trend, along with practical ways to make the most of your investment.
Many homeowners prefer guests to be in a separate area, outside of their living quarters. A garage addition is a fantastic way to accomplish this! In this recent garage addition renovation project, a two car garage was added to the existing home with a loft suite and separate entrance for guests. The new space above the garage is fully functional with a kitchen, small living area, bedroom and bath. It doesn’t take long for this kind of investment to offer generous returns. If used for AirBNB, guests would even have a separate entrance from the main house, adding to the homeowner’s privacy too!
Adding an In-Law Suite
Whether you call it an ‘in-law suite’, ‘granny flat’ or just a ‘side hustle,’ a separate entrance to your home can add value. Whether you want to accomodate the in-laws, your adult children, or generate AirBNB income, the traditional in-law suite is always a great option! Some regions refer to this as an Accessory Dwelling Unit (ADU). According to Freddie Mac, 1.4 million single family properties have ADUs. Many Realtors believe this will also be a prominent home design trend, and potentially attractive feature, in the coming years.
Whenever you add square footage to your home, it’s always a good idea to consider accessibility. These features are sought more and more by Airbnb customers and home buyers alike. With a home renovation or addition, consider including accessibility features like:
- No-step entries
- Wider doorways (min. 36 inches – preferably 42-44″)
- Open floor plans with fewer obstructions
- Grab bars in the bathrooms
- Height of sinks and faucets
- No throw rugs
In addition to accessibility, there are a variety of design considerations for home renovations that can make your home Airbnb friendly. Neutral and lighter paint colors make your space feel larger and cleaner. Consider larger windows and fewer draperies for allowing more light into the space. When it comes to your design selections, go for durability over high-end. For example, while granite and marble are more upscale design options, you may want to choose countertops that are more durable in nature. The look of wood flooring adds a lot of warmth to a space, but porcelain tile that looks like wood or vinyl plank flooring will provide a lot more durability for wear and tear.
It’s also important to work with a contractor that can understand your goals, make recommendations, and even help you maximize your investment. After all, getting a return on your investment is a big part of the project! Be sure to select the right contractor for your remodeling project or home addition.
Are you considering home renovations for Airbnb income? Would you like to add a home addition that can be used for family, guests, or rental options? Contact Parker Design Build today to begin the design process.
Financing Options for Home Renovations