Did you know your bathroom remodel can also boost the resale value of your entire home?
Sure, remodeling your bathroom adds/ gives you more comfort, aesthetics, and reliability in everyday life, opening up your space possibilities and giving you a place of peaceful retreat. But did you know your bathroom remodel can also boost the resale value of your entire home?
In fact, when you add a bathroom or significantly remodel your existing one, you can recoup between 80 and 130 percent of your initial investment, says HGTV. New and improved bathrooms are the big places buyers want to see some flash, and these investments will continue to remain at the top of the list when it comes to investments. New buyers want to splurge in those areas because that’s where a majority of their time will be spent. They want the granite counter tops, the steam showers, the extra cabinet space, the luxurious bathtub, the his-&-her sinks.
Areas to Concentrate On
When looking to remodel your bath as an investment in higher resale value, there are some areas experts say to focus on. Those include:
- All-wood cabinets
- Stone countertops
- Walk-in showers
- Floor-to-ceiling steam showers
- Extra cabinetry and closet space
- Large sink areas/vanities
- Neutral colors
- Sufficient lighting
You may decide you’d really like a new whirlpool tub in your bath, but if you’re planning to sell your home in the near future, go for a walk-in shower instead as part of your bathroom renovation. These elements are replacing the tub as the primary way to relax and get clean. That’s because not everyone has time for a tub bath, but everyone takes showers.
Adding a Bath
Also, another piece of advice: don’t sink a lot of money into bathroom remodeling if you have a one bath home. Your money is better spent adding another bathroom, which is more attractive to buyers. According to a National Association of Realtors study, adding a bathroom increased the sale price of a home by 8.7 percent, more than twice the rate for adding a bedroom.
Give Buyers What They Want
Home buyers don’t mind putting in a little work to spruce up certain areas of a potential home, such as adding an updated appliance in the kitchen or changing the paint color of the living room. However, an old and out dated bathroom presents a big project to potential homebuyers and they don’t want to put a lot of work into it. Neutral colors are important when updating your bath, as is space. Even if you don’t have a huge bathroom to begin with, you can bump out a portion to give it just a little extra space. Most buyers would rather have two full baths instead of one full and one half. Even if you can’t add extra space by blowing out a wall, there are things your contractor can do to maximize the space you do have.
Throughout your bathroom renovation, keep in mind that what’s popular or trendy now in terms of colors and decor may not be so in a few years. Keep it neutral and you’ll appeal to buyers of all kinds over many years.