How Remodeling Trends Impact Rental Prices in Maryland – What Renters Should Look For

Estimated reading time: 6 minutes

As remodeling trends evolve, they don’t just change the physical landscape of rental properties – they change the financial one, too. In Maryland, where rental demand is steady and prices aren’t exactly heading south, these trends are worth paying attention to if you’re a prospective renter. And if you’re a landlord, brace yourself: the upgrades you’re considering might mean asking your tenants to dig a little deeper into their pockets.

Open Floor Plans and Expanding Rent Checks

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Once a hallmark of the ultra-modern, open floor plans have gone mainstream. Walls? Who needs them! Maryland rentals are embracing this trend across the market. Still, while open layouts provide a seamless flow and make spaces feel bigger than they are (handy for smaller apartments), they don’t come cheap. Construction costs go up when you start knocking walls down and restructuring load-bearing elements. And guess who’s footing the bill? You guessed it – the renters.

Renters looking for open floor plans should consider if the extra breathing room is worth the extra dollars. There’s something undeniably attractive about being able to keep an eye on the TV while whipping up pasta in the kitchen, but those wide-open spaces might leave a little less room in your budget.

Artificial Grass: A Low-Maintenance Luxury

More rental properties in Maryland are adding artificial grass to outdoor areas to offer tenants a low-maintenance, always-green space for recreation and relaxation. Artificial grass requires no mowing, watering, or regular upkeep, which makes it an attractive feature for tenants who want an aesthetically pleasing outdoor space without the hassle. However, this convenience may come with a rental increase as landlords factor in the installation costs of fake grass. Renters should consider whether the convenience and year-round greenery are worth the potential uptick in rent.

Smart Homes: Clever Gadgets, Higher Rates

Say hello to the era of the smart home! Maryland’s rental scene has started to jump on this bandwagon, and who can blame them? Smart thermostats, automated lighting, and keyless entry offer up a convenience that’s hard to ignore ; but here’s the thing about all that “smart” technology – it’s also “smartly” factored into your rent.

As cool as it is to unlock your door with a phone app, it’s wise to think about whether you’ll get much use out of these additions or if they’re more of a novelty. Those living in Maryland’s chillier areas may find that smart thermostats save money on heating bills in winter – but renters who don’t need or want the tech could be paying extra for gadgets they never use. Bottom line? Check the tech before you sign the lease.

Kitchens: A Recipe for Rising Prices

There’s a phrase that’s sure to make many-a-renters’ hearts sink: “newly remodeled kitchen.” Landlords know that kitchens can make or break a rental, so they’re increasingly calling in the home remodelers in Maryland to upgrade these spaces and lure in tenants. Granite countertops, chef-grade appliances, and subway tiles are appearing left, right and center, and typically served with a hefty price tag.

While a renovated kitchen is tempting, renters should weigh the benefits against the costs. If you love cooking, those high-end appliances might be worth the splurge; if your idea of dinner is ordering takeout, you might end up paying extra for a feature you barely use. Don’t let your budget burn; take a hard look at how much you’ll actually use that shiny new stove.

Outdoor Spaces: How Much Do You Need that Fire Pit?

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These days, even apartments are getting in on the outdoor action. Maryland landlords have realized that a touch of green can justify a rent increase – private balconies, shared courtyards, and rooftop gardens are trending hard. If a cozy outdoor space with string lights and fire pits is your dream, you’ll find plenty of rentals to tickle your fancy, but be prepared for the added expense.

Outdoor space comes at a premium – especially in city apartments where real estate is at a premium, period. While it might be nice to have somewhere for a potted plant or two, consider how much time you’ll really spend out there; for some, it’s a must-have – especially if you’re a grill master or a sunset enthusiast – for others, it’s more of a luxury than a necessity.

Green Upgrades: Saving the Planet (and Maybe Your Wallet?)

Eco-friendly improvements are making a splash in Maryland rentals. Energy-efficient windows, solar panels, and low-flow showerheads are trending in rental markets, especially in urban areas where going green has become a badge of honor. Some renters may find a nice payoff here, with lower utility bills and a clearer conscience. But be warned: landlords often pass the initial installation costs onto tenants.

For renters, it’s important to do the math. If an energy-efficient apartment translates to noticeably lower bills, that green feature might be worth the green in your wallet; if not, it might be smarter to save your money and invest in a few energy-saving gadgets of your own.

What Maryland Renters Should Consider

As tempting as it is to jump at a place with all the bells and whistles, renters in Maryland should keep a few things in mind:

• Prioritize practicality: It’s easy to get swept away by modern finishes, but consider your lifestyle; are you really going to use that top-tier gym, or would a basic workout room suffice?

• Run the numbers: A remodeled kitchen might be impressive, but if you’re not a culinary enthusiast, it’s just an expensive place to store your takeout menus

• Consider your future plans: Moving into a high-end rental with all the latest trends can be fun – but it’s only worth the cost if it fits your plans. If you’re likely to move within a year or two, splurging on the bells and whistles might not be the wisest move

• Negotiate: Rental prices aren’t always set in stone. If you’re willing to sign a longer lease or make other concessions, you may be able to get the price down on a place that has the features you want

The Fine Print

Remodeling trends can drive up rental costs, but they also make properties more attractive and comfortable. Maryland renters should ask themselves what they’re truly looking for: is it a home base, a status symbol, or simply a place to rest their head? It’s easy to get blinded by shiny new features, but wise renters take a step back and consider the real value of what’s on offer.