If you are considering a home renovation, it is either that you want to enjoy your space more or to add more value to your home. However, the problem is that not all renovations result in increased value to your home. Some renovations come with much less value than you might have thought.
Related: Cost-Effective Kitchen Renovation
What about a bathroom renovation? Will it increase your home’s value or is it purely for aesthetics?
Of all home improvements, a bathroom renovation is the most popular. And also, whether you do a small renovation or a large bathroom renovation, the returns have gone up. This is welcome news if you are contemplating doing a bathroom renovation. This is even more important if you are considering selling off your property in the near future.
Before you call your builder though, here is everything you should know about just how much a bathroom renovation can increase the value of your home.
How much value does a renovated bathroom add?
As a homeowner, you need not be worried about finances when it comes to renovating your bathroom.
Renovations, whether minor cosmetic works or major structural redesigns have proven the most obvious way to boost the value of a property if thoroughly researched and expertly executed.
One of the most important factors affecting a home’s value is the present condition of its bathrooms. And bathroom and kitchen renovation, according to research, are the most common home improvement projects. This is because they have a very high recovery of rate-75%. For instance, a $20,000 renovation of a bathroom can increase the value of a home by $15,000.
Apart from the return on the bathroom remodel, homeowners can also enjoy a home that’s more comfortable for living.
But the good thing with renovated bathrooms is that they go well beyond their great selling features. Also, they make the home a more comfortable place to live in every day. Good bathrooms come in handy on those mornings when you want to take a shower first and be off for work, or in the evening when you just could do with relaxing in a hot bath.
5 Ways Bathroom Renovation Increase the Value of Your Home
If you want to only tackle a few upgrades in your bathroom or to renovate your bathroom on a budget, you should consider doing renovations that are most profitable. This way, you will put your money into the areas that are guaranteed to pack the greatest punch. Also, it helps you to prioritize your tasks.
These 5 renovations are sure to stretch your dollar furthest, whether they are on their own or when combined with others. Now, the question is where to start when remodeling a bathroom. Below are just a few simple steps that you can do:
1. Installing new plumbing fixtures
In the same way, old fixtures make a room appear dated, new fixtures can transform an entire space and give it an inviting and a modern look. This means that homeowners can swap showerheads and faucets at a much fairer rate.
If you only want to upgrade plumbing fixtures, then make sure that you choose fixtures complementing the rest of your bathroom. By simply upgrading your bath or shower area (or both), you are already adding value to your property.
2. Vanity upgrades
Upgrading the whole vanity will pay off immensely. This includes not only the mixers but also the basin and the entire cabinetry. You can purchase vanity fittings consisting of all the fitting & fixtures you require at a single price or even compile the perfect vanity yourself. Ensure you choose materials that appeal more to buyers. For instance, granite and marble are usually the best for countertops, while laminate and tile can appear a tad bit retro.
3. Applying new paint
If you are looking for the simplest way to create a dramatic impact on your room, giving it a new paint colour should be the top of your agenda. This will even be great if your room had started showing mildew or water damage signs. In the latter case, you will be advised to tackle the actual cause and not just hide behind the paint.
Painting is one renovation project that you can do by yourself, especially because the bathroom isn’t a big space. To streamline its look, use painter’s tape. Also, consider choosing a neutral colour as this is sure to have a larger appeal.
4. Installing New Flooring
Want a dramatic change? If so, a good place to start is to upgrade the bathroom flooring. Bathroom flooring cost average $15+ per square foot on the low end and could be as high as $30+ not including the labour costs.
5. Energy-efficient updates
The benefits of updating energy efficiency in your home go well beyond the environmental. More crucially, it also increases the resale value of your home. You can optimize your toilet, shower, and sink for optimized flow, meaning less water usage, which translates to more savings on the amount you pay for your water bills. Also, this is a strong appeal for buyers. Therefore, when choosing bathroom fixtures, insist on those that promise to save energy the most.
If you are thinking of maximising the value of your property, one of the sure-fire ways is doing a bathroom renovation. This is because the state of your bathrooms plays a great role in determining the value of your home. As such, this is one investment you can never go wrong about because you are sure to recoup a great part of the cost of bathroom renovations in Melbourne. You just have to make sure that your renovations are aligned with the required standards.
If you decide to update your bathroom, value is only but one factor to consider. An upgraded bathroom will also enhance your life and increase your property value in case you decide to sell it and move to another place.