Will a Bathroom Remodel Increase the Value of Your Home?
It is not uncommon for homeowners to undertake a bathroom remodeling project in the hopes of boosting the value of their homes. While it’s true that updating your bathrooms can increase your home’s worth, the question of how much — or if the trick even works at all — boils down to the type of upgrades you make and the overall condition of your home in general. Below are the top considerations to make if you plan to invest in bathroom remodeling for the sake of boosting your home’s value.
The Extent of Your Updates
Assuming your home is in fair to good condition, you cannot go wrong with a bathroom renovation. If you don’t have a lot of money to put toward a remodel, something as simple as a fresh coat of paint on the walls and cabinets can boost a room’s appearance and your home’s overall appeal. However, if you have more money to spend, spend it. You can achieve a greater ROI with upscale updates, such as heated floors, double sinks, increased storage and swanky showerheads.
The Condition of Your Home
If your home is in poor to bad condition, bathroom remodeling is unlikely to boost its value. Though people appreciate nice bathrooms, they are rarely the selling point of a home. A fancy master bath and pretty powder room won’t make up for faulty wiring, a failing foundation, a crumbling roof and/or an outdated kitchen.
The Number of Bathrooms
If you have a substantial budget and an existing bathroom that is in good condition, consider adding an additional bathroom. Only do so, though, if it makes sense. If you already have four bathrooms, a fifth may be excessive. However, if your home is a three-bedroom, one-and-a-half bath, adding a master bath or a second, full bathroom somewhere could significantly boost the value of your home. This is particularly true if other homes in the area have two to three full bathrooms.
Bathroom remodeling can be a worthwhile investment. However, before you invest any money, consult with a professional to see what types of upgrades will add the most value.