How Bathroom Remodeling Can Increase Your Home Value
A survey by the National Association of Home Builders found that bathroom remodeling is the single most-requested job in the United States, making up a full 78% of all renovations.
But if your goal is to increase your home’s value, what kind of return can you realistically expect from hiring bathroom remodelers? And what are some ways that you can maximize your return on investment by having your bathroom remodeled?
In this article, we’ll be discussing the ways bathroom remodelers can help increase the value of your home, as well as what particular aspects should receive the most attention to get the most bang for your buck.
The Importance of Bathroom Remodeling to Home Sales
When it comes to home sales, bathrooms are often dealbreakers (and deal-makers) for buyers. Many people looking to buy a house are very particular about how many bathrooms their new home should have. Likewise, the quality, cleanliness, and beauty of a bathroom goes a long way in shaping a potential buyer’s view of the home.
Now, bathroom remodels won’t necessarily recoup everything you spent on it at resale. But it’s still one of the highest-returning investments you can make in your home. Anecdotal evidence suggests that a brand-new bathroom can help inspire direct offers on your home, while small, inexpensive bathroom upgrades could result in a 2% to 3% increase in the ultimate sale price.
However, there is a catch: Every single decision you make when you update your bathroom can be placed under scrutiny, so each one is high stakes. For this reason, it’s a good idea to talk with an experienced interior designer, contractor, and your real estate agent to get advice on what upgrades are most important for you.
The biggest factors for increasing value are updating worn-out items, increasing functional space, and modernizing fixtures. If you approach a bathroom remodeling project properly, you could expect to recoup 50% of what you spent on the project. Many real estate agents recommend always updating your bathroom before selling your home if it’s in need of sprucing up.
The Top 3 Remodeling Projects with the Highest Return
Perhaps remodeling your bathroom is something you’re very interested in doing, but you don’t have the budget required to gut it and start with a clean slate. If that’s the case, the following three projects have been shown to offer the highest return on your investment.
- Vanity: Updating your bathroom’s vanity tends to be a bit more expensive than other options, but it’s still one of the best projects to perform for the highest return. A full vanity update should include the countertops, sink, and faucet. The majority of modern homebuyers are searching for vanities with granite countertops at a comfortable height. If you choose this route, pay careful attention to the cost of the materials you purchase, as these can add up quickly if you aren’t careful.
- Flooring: In terms of overall appearance, replacing your bathroom’s flooring will go the farthest. Inexpensive materials such as porcelain, ceramic, or even vinyl, can be made to look like classic stone or wood. And yet, they’re also waterproof and fairly durable. If you live in a colder climate, installing a radiant-heat mat underneath the flooring will make your bathroom quite attractive to buyers.
- Tub or shower: In master bathrooms, in particular, the current trend is to do away with bathtubs altogether, opting instead for a larger walk-in shower. Soaking tubs are still attractive features, but because people tend to use them only a few times a year, they’re less important than a nice walk-in shower would be. As a side note, you shouldn’t remove every bathtub in your house — if there’s only one full bathroom, it’s probably best to leave the tub in it.
Keeping Costs Low During a Remodel
The main expense when it comes to bathroom remodeling is in the materials. In most cases, you will want to go for middle-of-the-road options when it comes to brands and products. Don’t buy luxury brands unless it makes sense for the house and your budget, but you also shouldn’t buy the cheapest of the cheap, as the inferior quality will show.
Design is another place where costs can soar, but it’s also something that may be worth splurging on. If you have a very good sense of aesthetic design, then you might feel comfortable choosing the materials for your bathroom yourself. This could save you a bundle of cash as opposed to hiring a designer or buying your contractor’s design services. However, if you’re not sure about your own design abilities, it may be something you should reserve for the pros to handle. The look and feel of your bathroom is going to be critical to making the sale, after all. You don’t want to accidentally defeat the whole purpose of remodeling it.
Hiring bathroom remodelers in no way guarantees you’ll make all your money back when you sell your home. However, it goes a long, long way in getting buyers’ attention, which can dramatically lessen the amount of time your house spends on the market.
And that’s not the only thing you’ll gain from getting bathroom remodelers to upgrade your home. By hiring the right bathroom remodelers and getting the right design, you’ll dramatically improve the experience of living in your home for yourself.