As Asheville has grown into one of the most popular vacation destinations in the southeast, it has become a hotspot for the hosted rental market. Guests are looking for trendy, eclectic, affordable housing when they travel. How can you transform your empty basement or garage into an income producing space? Remodel!
To help get your remodel started off on the right foot, consider these tips from Brandon Duinkerken with Duinkerken Homes, who recently remodeled an unused Kenilworth basement and turned it into a hugely popular (and profitable!) weekly rental.
- Consider your location and who will be drawn to staying there. Are you in the City of Asheville or on a farm in Marshall? Will you have a lot of business people staying? If so, consider extra outlets and a designated office area. If you’re having people out to your farm, consider durable and easy to clean flooring to prevent mud build up. It is important to design and decorate your remodel to serve your targeted demographics needs.
- Is your basement a dry space? It is vital to examine and rectify any exterior water issues prior to remodeling the interior of a home. This may include grading, proper landscaping and making sure the foundation is properly sealed. Keeping your space dry is probably the most important aspect of starting a remodel.
- How much natural light is available? Most clients really enjoy having multiple windows, regardless of the view. It makes them feel less boxed in and more inclined to relax.
- Your suite will need to have a private entrance. How much parking space is available for your clients? Will they need to park off the street or can a dedicated parking pad be made available?
- What is the length of time your guests will stay? Will they require a full-size kitchen and washer/dryer space? Or will you be catering more towards guests preferring to eat out and therefore appliances can be limited? Keep in mind that appliance costs can greatly influence your budget!
- It is important to remember that the kitchen and bathroom will be the most used space in your remodel. When considering your budget, it is best to invest wisely in these areas and cut back or add adaptable touches to other areas.
- Employing a design-to-build general contractor from the beginning of your project, will help to curb structural and financial mistakes. Discussing your budget, functionality and style with a contractor is a must. Having all your boxes checked prior to starting will help things go smoothly.
Additional Note: Check your areas permitting restrictions for short term rentals.
Duinkerken Homes has been remodeling, renovating and building new construction homes in WNC for over ten years. Their extensive knowledge in design to build, cost to build and functionality of products has made them a leader in the WNC building industry. For more information please visit www.duinkerkenhomes.com or call Brandon Duinkerken at 828-450-9395.