Once you’ve decided to sell your house, it’s pretty common to think about doing some pre-listing remodeling to increase the sale price as much as possible. And without a doubt, the bathroom is one of the most popular indoor remodels because they often provide homeowners with a faster sale and the biggest bang for their buck.
Do Bathroom Remodels Add Value?
When buyers are considering potential properties, some may be willing to overlook a smaller second bedroom or an unkempt garden. But many will be pretty inflexible about the condition of bathrooms or how many there. Because the bathroom is one of the most essential rooms in any house. So even a few minor bathroom upgrades can add enough value to have a real impact on buyers.
Obviously, the amount will ultimately depend on a wide range of factors regarding your specific property. This can include things like where you live, bathroom size, current condition, your remodeling plans, future property markets, and the final sale price. That being said, many homeowners have found that their bathroom remodel was responsible for adding thousands of dollars to the resale value of their property.
What’s The Average ROI On A Bathroom Remodel?
While homes with remodeled bathrooms often sell for statistically higher prices, remember that the upfront costs of remodeling can vary significantly. So just like when planning any other home improvement, it’s important to have an idea of what the potential returns on your investment will be first.
Research data has shown that bathroom remodels generally yield higher returns in terms of boosting resale values. Especially when they’ve been planned, budgeted, and executed appropriately. In fact, you can generally expect significant returns from a universal bathroom remodel, with the average ROI an impressive 70%. But just like any increases to resale values, it can vary considerably depending on multiple factors as mentioned above.
Bathroom remodels can be an excellent way to invest money in your property with pretty high returns. So, once you’ve worked out a potential ROI for your specific bathroom remodel, it will generally guide your thinking to ensure you’re always making the best possible financial decisions. Just remember that your ROI will always be higher when your spend is less. So don’t go overboard with your bathroom remodel by always keeping to your budget.
Will Remodeling Your Bathroom Pay Off?
While bathroom remodels generally aren’t cheap, you don’t always need to spend up big to see a decent return on investment. To make sure you avoid sinking too much money into the remodel, keep the same bathroom layout and do some of the work yourself. Also, focus on replacing any old or faulty fixtures and upgrading them to energy-efficient bathroom features. These are all excellent strategies for saving costs and maximizing your ROI.
Remember too that potential buyers will often have completely different tastes. So if you want the bathroom remodel to increase the resale value of your property, it’s essential to factor in the buyers as well. And while bespoke bathrooms with exciting and elegant designs seem to be popular on social media lately, it’s much smarter to go for more neutral styles and muted tones when you intend to sell. Besides, modest bathroom remodels often tend to retain their value better and for longer.