Before scheduling a renovation project, you might be wondering, how much does a bathroom remodel increase home value? While a bathroom upgrade can mean a more functional space for you and your family no matter its cost or increased property values, knowing how much a bathroom remodel increases a home’s value can help you decide on your budget.
On average, a bathroom remodel might increase home values by some 66% of what’s spent on the renovation. Upscale remodels might recoup some 57% of your costs in terms of increased home values.
In simpler terms, a bathroom renovation costing $100,000 might increase your home’s value by about $66,000. If you choose upscale materials and luxury renovations, that increased value drops to $57,000. These are just average figures; your potential increased value will depend on the changes made, the materials chosen, and what homebuyers look for in your area.
Before you decide on a bathroom remodel for your home, consider some added information about which home improvements add the most value, how to remodel a bathroom on a budget, and if adding a new bathroom is worth the cost. Discuss this information and your needs for an updated or new bathroom with a bathroom renovation contractor near you, to ensure you’re happy with your space for many years to come!
If you’re concerned about adding the most home value with a bathroom renovation, consider some suggestions for what to include. It’s often suggested that you start with functional changes that make a bathroom more usable for everyone and then move on to aesthetic changes; for example:
A homeowner should never make the mistake of thinking that all bathroom renovations will add value to their home, or that they’ll see a healthy return on their investment no matter the materials used or changes made.
As a homeowner, you might need to decide between updating an existing bathroom or adding a new bath to the home, or might be wondering if adding a bathroom is worth the cost in the first place. On average, a new bathroom might cost around $40,000 and see a 60% return on investment, or a property value increase of $24,000.
No matter the cost of a new bathroom, there are many reasons to consider adding even a half bath or lavatory to your home. One vital consideration is if there are bathrooms on every level of the home; if you finished the basement, for instance, but didn’t add a bathroom in that space, consider installing a lavatory. This ensures no one needs to run upstairs every time they need to use the lavatory, creating added convenience and comfort in that finished basement.
A full bathroom addition might also allow you to move an elderly parent or other relative into the home, without them having to use the family or master bathroom. A new full bathroom with a shower on the home’s ground floor might also allow you to stay in the home as you age, without having to risk stairs every time you need to shower or use the tub.
It is possible to remodel a small bathroom for $5000 but you’ll need to plan carefully and shop wisely! To remodel a bathroom on a tight budget, check out some quick yet simple tips:
Generally speaking, a bathroom renovation or addition might see twice the return on investment as a new bedroom. This isn’t always the case, however; for example, if your home has two bedrooms and two bathrooms, a third bedroom might add more value than a bathroom renovation.
It’s also vital to consider typical homebuyers in your area when deciding between a new bedroom or bathroom renovation. If you live in an area with lots of family homes, a third bedroom is often a must-have for potential buyers who appreciate separate rooms for their children more so than updated bathroom features.
On the other hand, if you have a two-bedroom, one-and-a-half bath condominium in a city that’s home to lots of single professionals, potential homebuyers might not need that third bedroom. An updated bathroom or kitchen renovation might then be a better option for your home.
If your home needs lots of work but you want to start with whatever improvements add the most value to a home, turn to the kitchen! One reason an updated kitchen renovation is so valuable is that the kitchen is probably used by everyone in the family, every day. An outdated, crowded kitchen can seem very unwelcoming, while drab finishes are unhygienic and even downright unsafe for use.
Generally speaking, a bathroom remodel increases home values almost as much as a kitchen renovation. As with the kitchen, a bathroom sees lots of foot traffic every day and must be functional as well as welcoming. A small bathroom, especially one used by two people, lacking storage and space can mean a frustrating daily routine for everyone, while outdated surfaces are often harder to clean than many of today’s modern floor tiles and countertop materials.
After a kitchen and bathroom renovation, the best improvement to add value to a home is reinventing an outdated space! As an example, homeowners today often prefer a kitchen that opens up to the dining or family room; if your home still has small, separate spaces, consider removing a wall and creating a more open feeling. If your master bathroom’s door is in the hallway, as another example, relocate it as needed to create a functional yet welcoming master suite.
Along with reinventing rooms, another improvement that adds value to your home is finishing all usable spaces. This includes the basement, attic, laundry room, mudroom, and other such rooms. Adding drywall, tile floors, ceiling tiles, and other finishing touches creates an upscale look and ensures every square foot of the home is usable and welcoming.
One last improvement that adds value to a home is an outside deck or patio space! An unfinished backyard is just wasted space, and homeowners often appreciate having an outdoor area for entertaining or enjoying their weekend coffee. If your home is finished on the inside but lacks living space outdoors, consider a new deck, patio, or even an outdoor kitchen to increase your property values.
An updated, attractive home is more likely to draw in potential homebuyers and sell for top dollar than an outdated home in need of updates. If you’re thinking of putting your home on the market, your first step is to ensure it is structurally sound; schedule roof repairs, replace worn floorboards, ensure the plumbing and electrical are up to code, and so on.
After needed repairs and fixes, concentrate on how to update the kitchen and bathroom as these add the most value to a home, as said. If you cannot afford a renovation or don’t want to invest in remodeling a home you’re selling, make affordable changes; replace old kitchen appliances with something new yet basic, install peel-and-stick tile over the current flooring, and ask a stonecutter about remnants you can use for new countertops.
Professional, deep cleaning also go a long way toward restoring the appearance of various surfaces and materials around your property. Have the rugs cleaned and schedule power washing for the home’s exterior. Paint is also an excellent way of updating the space; choose light, neutral colors and cover dark and dingy walls, a worn exterior deck, worn fencing, and other such areas. Your home will then look like new!
This information is proudly provided by the home renovation pros at North Star Kitchen and Bath Remodels. If you’re still wondering how much does a bathroom remodel increase home value, or are in the market for a full-scale kitchen or bath renovation, give us a call! The team at North Star Kitchen and Bath Remodels works with every customer individually to create a renovation plan that fits your needs and budget, and we stand behind our work with an ironclad guarantee you can trust. Whatever your vision for a dream space, rely on the experts at North Star Kitchen and Bath Remodels for your next bathroom remodel in Boise to add value to your home.
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