When it comes down to it, you want your house to not only look good, you want it to sell. It does not matter if you plan on selling tomorrow or in a few months, having a home that looks up-to-date and maintained is bound to attract prospects. That is why more and more people are opting to improve parts of their home prior to selling.
One of the most popular home renovations? The bathroom. But is remodeling the bathroom worthwhile? Is the return of investment (ROI) decent?
We’re going to answer those questions and more today, so keep reading.
Should I Remodel My Bathroom?
Does your bathroom really need remodeling? It depends. A bathroom that needs repairs should definitely be remodeled, but you do not have to go overboard. Some things may be in working order, or the design may be passable. In that case, you can just replace the vanity counter with some natural stone, like granite, update the medicine cabinet, swap out some fixtures, and you are good to go.
But if your bathroom has water damage, structural problems, defunct appliances, cracked tiles, mold, and other problems, you will want a complete remodel. That ensures that you pass the inspection rather than just covering up potential hazards.
What Does The Local Market Show?
The national average of return of investment for a mid-range bathroom remodeling was around 70%. The ROI on an upscale bathroom remodel was 56.2% in 2018. The puts the average return of investment at 60% on bathroom remodeling. Look at the local market to see if it would be a worthwhile project, or if your money would be better spent elsewhere. For instance, in some places, adding new windows and stone veneer ups the value on your home far more than a renovated bathroom.
Still, even if you are not making back 100% of what you put into the project, that does not mean that remodeling a bathroom before you sell is not worthwhile. It still helps attract people to your house, even if it isn’t the reason why they make the purchase.
Types of Bathroom Remodels
There are two routes most homeowners choose: remodels and additions. Further, there are two kinds of remodels—mid-range and upscale. A mid-range remodel involves things like new fixtures, replacing ceramic tiles, installing a new standard toilet, and a solid surface vanity. The average cost nationally is around $19,134, and the ROI is around 70%. You recoup around $13,422.
Upscale bathroom remodels include any structural changes, like adjusting or expanding the space. This also means you add things like high-end fixtures, stone countertops, double sinks, and heated floors. You might opt for rain shower fixtures or tiled shower walls, too. Freestanding tubs are also considered upscale.
As you can imagine, an upscale remodeling is much more than a mid-range remodel. It costs around $61,662 on average, and you get back only $34,644—or 56.2%.
Choose The Right Bathroom Projects
If you decide that your bathroom needs to be remodeled, then you will need to decide exactly what to spend your money on. You don’t want to waste money on superfluous elements, so stick to what you know is going to boost your home’s value the most. Bathrooms are an excellent remodeling choice because you can be creative.
Here are some things you can considering upgrading to make the most out of the bathroom remodel:
- Multiple sinks
- Plenty of light, both natural and artificial
- Energy-efficient fixtures
- Built-in storage features
- Modern toilet
- New paint and flooring
The list also shows some of the best home renovations you can make throughout the entire house since they ultimately work together to increase your home’s value.
To get the most ROI on your bathroom, you will want to choose things that appeal to buyers. Most will want to see neutral colors. You do not have to go upscale or choose upgrades that are expensive. Instead, select fixtures that look modern and new, not used. Try to increase the size of smaller bathrooms, if possible. You could do this by removing an old bathtub and replacing it with a sleek shower stall, for instance.
Depending on where you live and the scale of the project, the ROI on remodeling a bathroom is between 50-75%. A bathroom remodel does not have to be extensive or costly for it to have a major impact on the overall value of your house and the ROI. The trick is to choose projects that provide the largest return.