Condo remodeling and ROI on Maui

Maui Makeovers has done many types of home renovations over the years and the condominium projects are an animal on their own. I’m referring specifically to condos used as vacation rentals, from economy to luxurious.

We are often asked by homeowners for advice as to weather they should upgrade their condo or not.

I explain the following to this group of clients. If your condo is outdated, todays vacationer will try and find one that has been updated, and typically there is one in the same building as yours that they are more apt to rent because of the updates.

Todays vacationers to Maui are more discerning. They most likely have new or upgraded homes themselves. With this internet era people can shop for anything a lot easier, including accommodations.

My point to these condo owners is, look at the revenues you are probably loosing due to the outdated nature of your condo, and of course, look at the possible revenue increase by marketing a remodeled condo.

We know first hand from many of our clients that revenues increased dramatically after we perform a renovation.

Don’t forget that the ROI on your condo is not only calculated by the value of the property, but also includes the rental income you receive.

Tagged as: Bathroom, Licensed contractor, licensed electrician, Maui, remodel, Renovation, Wailea