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How A Bathroom Remodel Can Boost Your Home Value

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Few rooms in the house are as crucial as the bathroom, but they’re often neglected when homeowners are trying to boost their property value. A functional, stylish bathroom not only makes your home more comfortable to sell but dramatically increases its final selling price. In fact, a bathroom renovation offers one of the highest ROIs of any of the projects you could take on when trying to increase your home’s value.

Updating An Existing Bathroom

Contrary to popular belief, it is pretty easy to complete a bathroom remodel within the parameters of an existing one. The first thing to consider is how functional your current bathroom is. If you have any leaks or damaged plumbing, you have to tackle them first before addressing any cosmetic changes.

Upgrades to your bathroom’s plumbing, electrical, or structural systems will be costly, so brace yourself for the cost if any are necessary. On the bright side, taking care of these issues now will improve your home’s market value and avoid any surprises when buyers start bringing inspectors in.

Next, you need to decide whether you want to adjust the dimensions of your bathroom. Knocking out walls or reconfiguring the room’s layout is apparently more expensive than a simple design change, but more substantial bathrooms are frequently a selling point home buyers are looking for.

If you lack the budget to increase your bathroom’s size, you can still add value by making it appear larger than it is. Glass showers appear smaller than standard tubs, so installing one will make your bathroom look more prominent. Likewise, wall sconces around the mirror and brighter light fixtures make the bathroom appear more roomy for a fraction of the cost of actually making it so.

Once you know exactly what you want to do regarding functionality and design, you can start to determine the budget you’ll need to get it all done. Prices vary wildly depending on whether you need to hire a contractor, electrician, plumber, or any other specialists for your bathroom renovation. If you have the requisite necessary skills, you might be able to handle some of the labor on your own. However, a professional should be brought in if you need to tear out walls, move plumbing, or play with your bathroom’s circuitry to achieve your vision.

In general, a primary bathroom remodels costs a minimum of $3,000 to $12,000. The cheaper end of that range is for projects involving only new fixtures and a modern backsplash. According to Remodeling Magazine, the average cost of a bathroom renovation hovers around $18,000. The same report states that roughly 66 percent of the cost can be recouped in the form of higher resale value when the home is placed on the market.

Upscale bathroom remodels run an average of $57,000, with an average of 58 percent recouped when the home is sold.

If ROI is your primary motivation for your bathroom renovation, new tile, brighter lighting, and updated cabinets and fixtures offer the best bang for your buck. Improving your bathroom‘s usability and adding a touch of luxury can also be worthwhile investments. Here are a few of the most popular choices:

  • Jacuzzi tub
  • Steam shower
  • Double sink
  • Shower seat
  • More storage

For cosmetic changes, you should stick to neutral colors that help buyers imagine themselves living in your home. Trendy materials and designs may appeal to some buyers, but they quickly become outdated and require immediate replacement. Your bathroom should also fit into the overall decor of your home.

Adding A New Bathroom

Any unused space in your home could be used to add a brand new bathroom to the property. This is expensive, frequently requiring professional contractors, plumbers, and electricians to do right. However, buyers love bathrooms. The typical buyer is looking for at least three (a master bath, family bath, and half-bath for guests) according to HGTV.

A home equity loan can be an excellent way to fund the project if you’re light on capital at the moment.

The best way to determine if a new bathroom is right for you is to hire an appraiser to determine how the project would impact your property value. A Realtor can also help determine if the project will make your home too valuable for your neighborhood (and therefore more difficult to sell).

As always, any value added to your home by a bathroom remodel should be one factor among many considered when planning your project. Any bathroom renovation should enhance your enjoyment of your home first and foremost.

Bathroom Renovations Vancouver BC

Caliber West Renovations
Suite 600 – 1285 West Broadway
Vancouver, BC V6H 3X8
(778) 785-7395

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