When many homeowners think of an upgrade they would like to make to their home, they think of bathroom remodeling. Bathrooms are small so it may seem like an easy project to take on that will improve the enjoyment of the home.
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A homeowner who is thinking of making some renovations on their home should also be aware of what sort of value remodeled bathrooms will bring to their home. To answer the question about what value increase a bathroom remodel will bring to a home, we have put together this article with some key concepts to understand how a bathroom remodeling will affect the value of a home.
BATHROOM REMODEL NUMBERS
Bathroom makeovers can have a range of prices depending on many factors like size of the bathroom and scope of the project. Whether you are just putting a fresh coat of paint on or you have more drastic bathroom remodel ideas, your project is going to take some money.
It has been estimated by Remodelling magazine that a mid- range bathroom renovation will cost on average $20,000. They also estimate that a high end bathroom remodel will cost as much as $65,000.
So now you can have somewhat of an idea of how much your bathroom makeover may cost. An important part of the equation is missing though, that is how much value will this type of remodel add to your homes value?
A mid- range renovation will add back about 67.2 percent of the cost of the project, while a high end remodel can be expected to add back something like 60.2 percent of its cost. In other words, that average mid- range renovation would add $13,717 of value to a home. The high end remodel would typically add $38,952 to the home’s overall value.
When you put these numbers together, you see that a typical bathroom remodel costs more than the value it adds to a home, so it is like buying a bathroom and then getting a rebate coupon for when you sell the home.
BATHROOM REMODEL IDEAS
Now that you can see about what a bathroom remodel will do to the value of your home, you may start to wonder what types of bathroom remodel ideas will be the best to go with. A great place to start getting ideas is with bathroom remodel professionals.
Bathroom contractors will have real world experience with the ideas you have and can tell you what is possible and what is practical. You can also seek the help of real estate professionals if you are thinking of selling your home, and asking them what bathroom renovations are making people choose to put in a better offer.
When you make your budget for your project, you can always remember that you will be getting back a certain percentage if you sell the home. But you also need to consider how much you will enjoy a new bathroom. Knowing the value your bathroom project will add to your home can help you in deciding which bathroom renovation ideas will be best for you.
BEST VALUE ADDING PROJECTS
There are some different projects you can take on in your bathroom that will add different amounts of value or will attract different sets of buyers. You need to consider who you want to have interested in your home, as some buyers will pay more than others.
Many pieces of the bathroom can be upgraded to use less resources. Faucets, shower heads and toilets can all be purchased that are rated as energy efficient because they use less water to do the same jobs. Not only will this upgrade add some value to your home, it will save you money each month in your water bill.
When people are shopping for homes, they like to see that a home is resource conscious. It is better for the planet that way and it is easier on the wallet. They may even be willing to pay a higher price if they see that the home is doing what it can to be efficient.
The footprint of a bathroom being small means that it can be an easy task to replace just the flooring without breaking the bank. New flooring could be a huge key to making your bathroom beautiful.
If you want to aim for a high end home buyer, it is easier than ever to install heating in the floor of a bathroom. This could really set your home apart from others and get someone to offer a higher price to make sure they get that luxurious heated floor bathroom.
If your faucets are looking tired or worse, leaking water, you could pretty easily replace them yourself and then you would be adding some sweat equity to your home. A plumber would easily charge $100 an hour to do this work, but it is fairly simple for most people to do with basic tools.
A bathroom with worn out faucets will surely not sell for a higher price than a home with shiny new ones, and this project is certainly attainable by most.
A great small project that can really change a bathroom without gutting it is a new vanity. Installing a new one with some added storage space can really make shoppers want to make a better offer on your home.
A lot of cabinet makers can help you get a beautiful bathroom vanity designed and installed to make your bathroom more beautiful and functional. You can even add a second sink if it is a bathroom used by multiple people.
Adding a fresh coat of paint can help turn an old dingy bathroom into a comfortable room to do your grooming and other business. People would rather buy a bathroom that they can see themselves in. It is best to use a whitish color, which seems clean and also makes the bathroom look bigger than it really is.
Painting is very easy for a homeowner to do themselves, it just takes time and is boring. Having a fresh coat of paint could definitely help raise the overall value of your home, especially changing from a scary color to something more neutral.
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