The Value Of A Bathroom Remodel
Despite all the pros of remodeling your bathroom, some homeowners are scared to take that renovating leap of faith. After all, according to the National Kitchen and Bath Association (NKBA), the average cost to remodel a master bathroom is about $16,000. This price can be cut down to almost $8,000 for smaller bathrooms. No matter the size, any professional contractor in your area would love to take on this project, but when you as the homeowner have to put up that kind of money, we can understand the hesitation. Nevertheless, ImproveNet is here to prove once and for all that the investment you make into your bathroom remodel is worth the time, energy and financial burden.
Homebuyers Look For Remodeled Bathrooms
Considering that the kitchen and bathroom are two of the most common rooms to remodel, homebuyers will look at these rooms first. They almost always check your bathroom as thoroughly as any other room in the house. They are going to check the water pressure. They are going to check around the toilets. They are going to check the lighting and natural sunlight that comes through in the morning. They are going to look at it all so you better have a “wow” factor before putting it on the market.
On the other end of the spectrum, if you are staying in your home, you want your bathroom to have a personal touch. This is the only room you will probably step into every day (we hope, unless you are on vacation), so it should feel and look as comfortable as your master bed. If you are choosing to update your master bathroom, feel free to step on the creative side. Not many outsiders will be viewing this part of the household so you have the creative freedom to make any update you ever imagined. Don’t be shy when it comes to perhaps the most trafficked room in the house.
Bathroom Remodeling MAY Increase Value Of Home
There is certainly much debate in our industry when it comes to increasing a home’s value. Like always, bathrooms and kitchens are first to mind, but even as popular as these rooms are, updating them does not always increase the value of your home. No matter what project you are tackling, you always want to maximize your return on investment. Despite popular belief, according to Remodeling Magazine’s Cost vs. Value Report, in 2013, bathrooms remodels have recouped anywhere from 54-65 percent of their value. We would all like at least a 100 percent return, but very few remodels will be able to do that.
Nonetheless, other industry professionals, like Marie Leonard, home improvement expert and author of Marie’s Home Improvement Guide, provide a different picture.
"As far as getting a return on your investment, the best money is in upgrading or remodeling your bathroom or kitchen," Leonard said. "All the realtors will tell people that you have the greatest chance of getting your money back on those two."
Improve Home Storage Or Decrease Clutter
Another key benefit of updating your bathroom is the extra storage. As bathrooms get larger and larger, homeowners are choosing to add in extra cabinets and storage areas to declutter the rest of the home. Some even place the washer and dryer in the bathroom. Extra storage space allows homeowners to clear off their countertops and store extra towels, linens and other toiletries that would otherwise be displayed for everyone to see.
Furthermore, if you find yourself with extra cabinets or closets elsewhere in the home, remove the storage areas in your bathroom. If the average person spends a year and a half of their life in the bathroom, you should have the freedom to move about and relax comfortably.
Generate an Energy Efficient Home
The EPA estimated that if one in ten homes upgraded their bathrooms with energy-efficient fixtures, over 70 billion gallons of water and $1.5 Billion worth of energy costs would be saved. Whether you are going green or looking to save some green, updating your bathroom with energy-efficient faucets, showerheads or lighting will put you on the right path.