February 4th, 2020
For most homeowners there are usually two rooms in their home that they want to update. Kitchen and bathrooms are the top to areas for home improvement and to increase value. But not all remodels are alike. Will a bathroom renovation really increase the value of your home? According to the the National Association Of Realtors a bathroom remodel is the most popular of all home improvements. Returns are going up on both midrange and upscale bathroom renovations.
Will A Bathroom Renovation Increase Resale Value
When it comes to increasing the value of your home, National Data on Remodeling a midrange bathroom renovation project will cost around $20,000 and an upscale bathroom renovation around $65,000. When the home is sold midrange renovations recoup 67.2% and upscale renovations around 60.2%. While you will not make a fortune you will see a nice return. It is very rare that you will get a complete 100% return.
High End Value On A Budget
If you are looking to renovate your bathroom on a budget, look at what brings in the highest returns. This way you can target those renovations so you can allocate funds to areas that pack the most bang for your buck. These projects will stretch your dollar and increase your home value:
1. New Fixtures:
New fixtures in your bathroom can make an entire bathroom look more modern and inviting. The other benefit is that switching out faucets and shower heads do not have to be an expensive purchase to still make an impact. If you do not intend to do any more work in your bathroom make sure the fixtures match the existing bathroom so they do not clash.
2. Upgrade The Vanities:
The next reasonable upgrade is to upgrade the entire vanity, that is, the faucet, sink and cabinet. These are available in kits or you can choose materials individually. Marble and granite for countertops are still the top choice for homeowners and buyers alike.
3. Fresh Coat of Paint:
Painting is possibly one of the few DIY projects that will give a new look to your bathroom. A simple modern coat of paint can make a big impact, especially if the room shows any sign of water damage. While you are at it, new caulking can also brighten up the look of your bathroom.
4. Replace Your Flooring:
Replacing your bathroom flooring is one of the less expensive renovations you can do, yet change the look and feel of the room. According to Remodeling Expense, the average cost for flooring runs between $2.50 and $4.00 per square foot. Even if you want to install radiant heat to take it to the next level, you are looking at an extra $5.00 to $8.00 per foot. This remodel will give you a dramatic change for reasonable cost.
These are just a few ideas to help you improve your bathroom.
Is a Bathroom Renovation Worth It?
It is up to you the homeowner to decide if remodeling the bathroom is worth the expense. Generally you can expect to get a good return. Even if you are planning to remain in your home, having a bathroom you enjoy is important. When it comes to bathroom improvements, the experts at Design Basics can help you with all your bathroom remodeling.