One of the great things you can do to improve your home is a bathroom remodeling project. Remodeled bathrooms add so much comfort to your life, but bathroom makeovers can also increase the value of your home.
Many aspiring bathroom remodelers will wonder “how much does a bathroom remodel increase home value?” The answer to that question depends on what type of bathroom remodel you are doing as well as other factors like your area and competing home sales.
If you would like to understand more about the type of value that a bathroom remodel may add to your home, we have surveyed our expert bathroom contractors to get some accurate figures to share with you. To learn all everything you need to know about your bathroom renovation and its effect on your home value, read our helpful article.
Bathroom Remodeling Costs
If you want to increase the value of your home by doing a bathroom remodel, you should first find out how much it will cost you to remodel your bathroom. In the end, you can minus the increase in value of your home from the cost of the bathroom remodel to get a return on investment.
According to HomeAdvisor, the average bathroom remodeling project in the country costs $10,974. This is for a fairly normal sized bathroom with medium quality fixtures installed.
Most homeowners will spend between $6,600 and $16,326 for their bathroom makeovers. So if you have modest plans for your bathroom remodeling project, you could imagine your budget to be in there somewhere.
Larger master bathrooms could be more expensive, HomeAdvisor estimates that they can cost over $25,000. It is even possible to spend more than $90,000 on a large master bathroom with all higher end fixtures.
What Value Will Be Added To Home From Bathroom Renovation
According to Remodeling Magazine, a mid range bathroom remodel will return about 60% of the money you spent on it. That means that if you spent the average remodel cost of $10,974, your home’s value would go up by $6,584.
As you can probably see, you will end up spending more money than you make back on selling a home with a remodeled bathroom. In addition to that, the value of your home will be higher for tax purposes, and so you will pay more money in taxes every year.
For an upscale bathroom remodel, Remodeling Magazine has reported that the average return on investment is about 54%. So if you did a grand $90,000 bathroom remodel, your home value would go up by $48,600.
So the conclusion you might draw from this is that a bathroom remodel is better as a project you want to do to make your home better to live in, not necessarily a way to make more money selling your home.
Does A Bathroom Remodel Make You Feel Better?
Bathrooms are a super important part of the home and it would make sense that remodeling a bathroom would make one feel better. The National Association of Realtors did a study in 2017 that found that 65% of homeowners had more fun in their homes after a remodel while 75% found a greater desire to be in their home following a bathroom remodel.
From this data we can see that doing a bathroom remodel can improve your happiness and help you enjoy your home more. Having a new bathroom makes your home more comfortable to live in and will be a great investment to make your life better.
Best Projects To Take On To Add Value
The truth is that simple fix up projects are the best ones to add some value and make buyers happier to pull the trigger on your home. Making it look like you took care of your bathroom, kept it clean and loved the space will add more value than any major remodel.
You can do a simple thing like patching any holes in the walls that have been neglected. You can do this in a short amount of time and it will make a huge difference.
You might consider adding new fixtures to your bathroom if the old ones are worn out looking. This can make a good impression on home buyers and it won’t cost too much to get some decent ones.
One of the best things you can do is a fresh coat of paint. Slapping on a fresh coat of paint really livens up a room and will show people that you cared enough to make the space look nice.
Local Demand For Remodeled Bathrooms
You should do some investigation into the real estate market in your area and see how homes with newly remodeled bathrooms are selling. If that is the standard in your market, a bathroom remodel might make more sense for you.
In an area with many new homes, it could be helpful to show a potential buyer a brand new bathroom to help stack up against the new homes. You need to do what you can to make your home attractive and like a place the typical buyer in the area would be happy to live in.
Neglected or Broken Bathrooms
If your home has a non functional bathroom or has a bathroom with broken fixtures, making it into a fully functional bathroom could help you to find a buyer. Making a bathroom look nice for potential buyers can help you get a higher value out of your home.
Fixing leaking pipes is one major issue that you should definitely tackle before trying to sell a home. If the pipes are leaking, the buyer might not even be able to get financing for the home purchase, which would mean you would need to find a cash buyer.
Think about replacing any sort of broken mirrors that are in the bathroom. That is just a bad look that will turn people away. You can just remove the mirror, it is not necessary to sell a home.
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