How Much Do Bathroom Remodels Increase Home Value
Everyone wants the nicest stuff. The newest cars, the newest phones, the newest homes are all things that people strive for in day-to-day life. We want nice things because we want to be able to enjoy the benefits of our work. There are several ways that you can approach increasing the value to your home. Among kitchen remodeling and adding a backyard deck, bathroom remodels are becoming increasingly popular.
It seems like a small consideration when trying to sell a home; the bathroom is a simple room consisting of a toilet, a place to wash, and a sink (right?). The truth about the matter is that the bathroom is actually one of the first rooms homebuyers look at. People want to know how big the bathroom is, is there more than one, does it look nice. Let’s face it; we all know that guests in our homes are going to (at some point) ask where the bathroom is. First time buyers want to know that they have a bathroom they can be proud of. They’re going to want to see if the guest bathroom is appropriate for guest usage and if the Master bath (or if the home only has one bathroom, that one) is big enough for them to move around freely in. Another reason that home owners are becoming increasingly concerned with how the bathroom looks is because you can tell a lot about a house by the bathroom. If you go into a bathroom and it’s got duct tape on the floors, you know that the owners have simply fixed up the rest of the house in a hurry. It provides key secrets to how well you have done with the upkeep of the house as a whole. Why is this? It’s simple really, the bathroom is typically the last place we clean or remodel. We want the living rooms, kitchens, and bedrooms to be nice first, because these are typically the first spaces a guest sees upon entering our homes.
With all of that being said, it’s no wonder that remodeling a bathroom can greatly increase the value of your home. According to a 2004 Remodeling Study, a bathroom remodel costing about $9500 dollars can bring an addition 182% of that back in when the home is sold. It’s hard to tell exactly how much a bathroom remodel can increase the value of your home, because it really depends on how much you are willing to spend on the cost. However much you spend on the remodel plus the quality of the work done equals the value added to your home. If the job is done correctly, you should add at least an additional 75%, after earning back cost, of the amount spent. So, to summarize bathroom remodels can increase the value of your home by the price spent on the remodel plus 75% of that cost.