Remodeling a bathroom is essential sometimes, but it is reasonable to wonder how much value this action adds. After all, a lot of money goes into a renovation, so you want to make sure you’re getting something from the effort. Added value may range from 57-64% of the cost, providing at least a modest return.
Other factors may include whether you’re remodeling a half or master bath. It’s most important to know which upgrades add the most value, their cost, and which you should prioritize. Read on to learn more about the value of bathroom remodeling.
What Bathroom Renovations Add the Most Value?
Some upgrades provide a better return than others, and there are different factors that affect each of these. The most valuable upgrades include:
- Flooring – Laminate and vinyl flooring can provide a fresh look with relatively little cost, while heated flooring may prove a major selling point for prospective buyers
- Vanities- A new vanity is a relatively simple upgrade but can change the whole overall look of your bathroom
- Tile- Retiling your bathroom is reasonably expensive but improves your bathroom’s appearance and increases the value
- Ventilation- Good ventilation helps prevent unsightly, damaging mold and is a worthwhile addition
- Lighting-Lighting plays such a leading role in your bathroom’s appearance that an upgrade will certainly increase the value
What Are the Overall Benefits of Remodeling a Bathroom?
Remodeling a bathroom helps make your home more attractive to buyers, and also offers other important benefits. As much time as most people spend using their bathrooms, making the space work for everyone is an important part of an upgrade.
Leaks and cracks are unsightly and in the case of an upstairs bathroom, can cause leaks into the rooms below. Remodeling is a great way to get these problems out of the way.
Remodeling also gives you the chance to give your bathroom an updated look. Although vintage looks have their advantages, they seldom add to a bathroom’s overall appearance.
You can also add extra storage easily in the context of a renovation. Most bathrooms are woefully short on storage, which makes this a smart upgrade.
Energy-efficient fixtures and appliances are a perfect way for homeowners to meet their goal of greater energy efficiency. Saving on your water, electric, and gas bills is always worth the effort.
Any of these types of updates will look good for buyers, as well as offer greater convenience for you.
What Are Some Considerations When Planning Your Remodeling Project?
If increasing your home’s value is a consideration, other nearby home values may make a difference. Some of the things to ask yourself include:
- How many bathrooms homes similar to yours have
- Is there a market demand for upgraded bathrooms?
- Will remodeling before selling make a difference?
- Does your bathroom require repairs anyway?
When you’re working n a budget for your renovation, think about what you want versus what you need. Wants can come later and include upgrades like the new decor. Needs will include anything that requires repair.
It’s always a good idea to look into financing options in case your project goes over budget. This happens more often than many people realize and could hinder your project. There is nothing worse than having a major remodel only partially completed because the funds run out.
If the bathroom you’re remodeling is a half bath, you may want to consider converting it to a full or even three-quarter bath. Your home’s resale value will rise with an additional full bath. If space doesn’t allow for another full bath, a three-quarter bath might be your next best option.
Karin Ross Designs can help you with remodeling a bathroom, regardless of the scope, contact us today to find out more about your options.