Home renovation projects can help increase the value and return on investment (ROI) with the common renovations in the kitchen, but more should consider investing in renovating their bathroom. Doing bathroom remodeling can help increase the value of your home, depending on your personal situation.
It’s difficult to determine whether a bathroom remodel can increase your home value as it depends on the neighborhood you live in and outside market factors. The biggest thing to consider before deciding to remodel is the condition of your bathroom as older bathrooms can be more expensive to renovate, costing more money.
If you have an older bathroom it might seem to be an expensive renovation but can get more expensive the longer you wait while preventing any damaging repairs that might occur and you’ll also be able to have an inspection for other damages. Having newer renovated bathrooms are also attractive to potential buyers if you plan on selling in the future and is estimated to increase your home value by 2-3%.
These categories of standard bathroom renovations will give you an idea of which remodel plan will be best for you and each will increase the value of your home at different rates:
- Midrange – standard renovation materials like a new vanity counter, ceramic tile floors, a standard white toilet, and a new shower handle.
- Upscale – this involved structural modifications such as expanding/adjusting the layout of the bathroom, tiled shower walls, heated floors, double sinks, high-end faucets, and stone countertops.
- Universal Design – this method is for creating a universal use bathroom that can be accessible for anyone including making the bathroom wheelchair accessible with features including support bars throughout the bathroom, a widened doorway, a walk-in shower, and accessible storage.
When considering doing a bathroom renovation, you should address the problems you know about first such as cracked tiles, leaking stains, and loose grout that can be hazardous to the integrity of the structure of the home like the ceiling of the room below. This should be the first thing to do before moving ahead with other renovations.
A more popular trend for bathrooms is utilizing energy-saving measures investing in modern features and appliances to reduce energy waste. Energy-saving renovations can save energy with a lower utility bill by replacing light fixtures, water heaters, low-flow toilets and showerheads.
Renovating your bathroom will also give you a chance to incorporate more storage space if your current bathroom is lacking. This will give the chance to consider installing a storage space into the wall and placing shelving from the floor to the ceiling.
A bathroom renovation might seem more about replacing and repairing appliances but can also give you the chance to revamp the décor to amore modern style. Some prefer the vintage look of a bathroom if it blends with the home décor theme, but more home buyers are more tempted and will pay more for modern bathrooms. Another consideration when doing a bathroom renovation thinking about the other bathrooms in your home as it adds value to have matching bathrooms throughout the home to match the décor theme.