If you are considering remodeling your bathroom, chances are you have questions about how your investment will influence the value of your home. Bearing in mind the current real estate climate you must consider if a bathroom remodel is worth the cost. Here are answers to some of the questions you might be pondering.
Why a bathroom remodel?
When it comes to improving a home many people do not immediately see the value in remodeling a bathroom. Let’s face it, the more visible sections of the home tend to take higher priority. However, if you want to experience return on other updates to your home, it is important not to neglect the bathroom. This is because the bathroom should match the style and design of the rest of your improvements. For example, potential buyers will ultimately lose interest in the home if they are first impressed by sleek and updated kitchen only to be let down by a drab, outdated bathroom. Bathrooms add luxuries to the home that potential home buyers are looking for; such as updated showers, baths, and added sinks. If you are planning on selling your home in the near future, a stylish bathroom can be a major deciding factor. Keep in mind that home improvements add combined value so do not opt out on this significant remodel.
Will I see a return on my investment?
When considering a bathroom remodel recouping your costs may be a concern. Before exploring monetary considerations keep in mind how a well-designed bathroom can add tremendous living value. You spend a significant amount of time in your home as do most home buyers, so the return of luxury and even improved functionality of a bathroom are worth the investment. Plus, sales on mid-range homes in the United States recoup more than 72% of the bathroom remodel costs according to Remodeling Magazine. However, Zillow.com reports some homeowners recouped investments of more than 100% on bathroom remodels depending on the area. This means improving your bathroom is a top upgrade choice. Keeping these numbers in mind will help you determine how much to invest in your bathroom remodel.
Will a bathroom remodel help me sell my home faster?
Again, most home buyers are looking for an updated bathroom. Homes with professional improvements have a tendency to sell faster than outdated ones. However, you will need to do it right if you plan on your bathroom adding value to the buyer. Trying to get away with just the minimum will not work. Great lighting, layout, design and fixtures are all important deciding factors. Focus on master bathrooms for major upgrades but improve additional baths as well.
So how much does a bathroom remodel increase the value of your home? That depends. Your location can greatly affect your return, but expect a significant increase in recouped value and certainly an improved attraction to buyers. Of course if you are planning on living in your home for years to come, consider the added enjoyment value a remodeled bathroom will bring.
What do you think? Have you experience increased value from a bathroom remodel? If you’ve sold a home how did a remodeled bathroom effect the sale? Comment below...we'd love to hear your feedback.