As a homeowner who wants to sell his/her house or increase the worth of the house in anticipation of a future sale, a question often comes to mind: Which rooms are the most valuable to remodel? This is a decision that requires a careful and critical evaluation from you as a homeowner, as it helps to improve the appeal and value of the house for sale. In fact, some renovations are reported to provide up to a 70% return on investment. According to DS Brothers Ltd, a group of professional builders in London, one remodel that provides a high return on investment is the bathroom.
According to the National Association of Realtors, if a bathroom remodel is tackled well, homeowners will recoup 50% of the cost put into the project.
What Is the Average Cost of Remodeling a Bathroom?
The cost you would incur to remodel your bathroom is dependent on certain factors, such as the current condition of the bathroom, the design plans for remodeling, the cost of the materials to be used, the person you hire and the like.
According to Remodeling Magazine, a low-end remodel costs on average $2500, mid-range bathroom remodel generally costs about $19,000, and an upscale remodel will cost you about $62,000.
How Do I Optimize ROI on a Bathroom Remodel Project?
To be honest, a bathroom remodel would not necessarily translate to a 100% return on investment; however, it has its advantages. A well-remodeled bathroom will get the buyer’s attention. Also, it will bring joy to you during the period when you get to use it as a homeowner.
The basic rule to optimizing return on investment on a bathroom remodel is to keep things simple and inexpensive, instead of going into the highest-end renovations or remodeling. Don’t aim to win any design awards with your remodeling; your aim should be to make a profit. You should choose furniture and fittings that do not require you to blow the budget but still appeal to the buyer.
Simply updating worn out items, modernizing fixtures and creating a more functional space could help increase the value of your house and make it more appealing to buyers. Generally, low-range and mid-range renovations tend to bring a better return on investment than upscale remodels.
What Bathroom Remodeling Projects Have the Best ROI?
As I have said, the best way you can optimize your return on investment is to keep it simple and inexpensive. If you are planning to remodel your bathroom and get the best return on investment, here are some projects you can embark on:
This may seem cliché, but it works every time. There is an undeniable attraction to a newly painted room. Repainting your bathroom is a sure way to increase its appeal to buyers. To make it more appealing, the repainting should be done to blend with the lighting to give the bathroom a cosy glow and a high-end look.
Update Furniture and Fittings
Another project you could embark on is to update worn out and outdated furniture in the bathroom. Worn out pieces of furniture give the bathroom an undesirable look; you will want to avoid this if you intend selling that house.
Outdated or worn out towel bars, vanity, door and drawer handles, shower heads should all be updated to something new and appealing.
The flooring of your bathroom is a potential deal breaker in any house sale. If the flooring looks worn out, it wouldn’t appeal to buyers. You need the flooring in your bathroom to have a new modern look to attract buyers.
It is advisable that the flooring is completely waterproof and durable to any level of moisture. The installation of radiant heat mats underneath your bathroom flooring of choice is another project that will make your bathroom attractive to buyers. It is an attractive feature for buyers, especially in colder climates.
The space in the bathroom should be used optimally. This should be done having the buyer in mind. For instance, if the bathroom is spacious and the buyer is a working couple, the sink could be upgraded to a double sink. This will allow both of them to prepare for work at the same time.
The importance of lightning in the bathroom is often underrated. Plenty of light that creates a warm and cosy glow will definitely be appealing to your buyers. Also, good lighting will bring to the buyer’s attention all the remodeling project that has been executed in the bathroom.
Fix All Plumbing Issues
You should ensure that all plumbing issues are fixed. Leaking pipes, taps without water running through them will lessen the value of your house. You should make sure that all such problems are fixed.
As a homeowner who wants to or plans on selling your house, increasing the appeal and value of the house the most you can is very important. Remodeling of the bathroom is one of such ways. For many homebuyers, the bathroom is a dealbreaker (or dealmaker). As such, remodeling your bathroom is very important as it adds much value to the house and it increases its appeal.