Bathroom remodeling has historically been one of the top producing ROI home improvement projects. But before you dive into installing a fancy steam shower and new vanity, consider the overall condition of your home. From a real estate resale view, the house needs to be structurally sounds with no leaking roof or major issues. You can have the world’s best bathroom but a leaky roof will turn buyers away before they have a chance to see it.
Assuming your home is structurally sound and current on all other basic home maintenance, a bathroom remodel could be a good place to invest. In fact, a recent study showed that in a hot housing market a bathroom remodel could bring in a return of 182% of its cost at resale. In San Diego, a $17,000-bathroom remodel investment netted a whopping $27,000 at resale. These figures are based around an average remodel that is in line with the homes overall cost. Meaning, don’t expect that a $40,000-bathroom remodel in a $200,000 one-bedroom apartment will bring in the same 180% return.
What Makes a Good Bathroom Remodel
Before jumping into your bathroom remodel, consider the overall layout of your home. If you are in a 3-bedroom, 1 bathroom for example, your money would be better spent adding a modest 2nd bathroom rather than updating the current one. In fact, adding a second bathroom has been shown to increase the resale value of your home by almost 9%. Twice that of the return from adding an extra bedroom.
When designing your dream bathroom think of practicality. Sure, the idea of soaking in a big bathtub with candles all around your sounds great, but how often, if ever, will you actually do this. Opting for a larger floor to ceiling shower is more practical and will likely lead to a higher return on investment. This being said, it is also important to note that you should make improvements in ways that you will enjoy them. It is one thing to plan for selling one day but another to spend a lot of money on improvements
that you may not like. The improvements you make should be to improve the home to fit your lifestyle. With the exception that you are planning to just flip the house.
Bringing in the Highest Return on Your Bathroom Remodel
Designing your bathroom to current trends will help you bring in the highest ROI on your bathroom remodel. If you are renovating the master bath, consider double sinks. Recent studies have shown that master bathrooms with double sinks are most attractive to buyers because they provide more convenience and flexibility. To go with these sinks, consider brushed metal faucets that match the other hardware in the bathroom. Keeping a consistent look and feel adds to the aesthetic and ultimately to the ROI. Lastly, add in a little something extra. If you live in a cold environment, consider a heated towel rack. If your neighborhood is popular with young families consider installing a hand shower. Hand showers are great for parents with very young children and pets. It is sometimes the little things that make the difference to perspective home buyers.
To bring in the most money on resale from remodeling your bathroom, be sure to keep it in line with the overall feel of your house. It is easy to get carried away with grand ideas for the ultimate bathroom. But, consider the overall flow of the house and how this grand bathroom will blend. Buyers will get turned away if only one room is spectacular and the rest of the home is very modest, and visa-versa.
Final Thoughts on Bathroom Remodeling
Fixing up an outdated bathroom has historically produced solid ROI at resale. More importantly to note, is that this is only the case on homes that have been cared for and properly maintained. Making sure that you have not overlooked the rest of your home’s maintenance is the best way to increase your home’s value. Once this is done, doing a bathroom remodel is a great step in increasing your home’s value.