When you're planning a bathroom remodeling project, consider the ROI for the changes you want to make before you begin
How much value will your bathroom renovation add to your home? It depends on a few factors, such as your location, the type and extent of renovation, and the quality of the labor and materials involved. Some additions and upgrades will bring in high ROIs of 70% or more, while others might actually turn off potential buyers, dragging your home’s value down.
If you’re thinking about selling sometime in the near future, you’ll want to make sure your financial investment is maximized by choosing projects that will help sell your home more quickly and for a higher price. Routinely, housing experts name bathroom remodels as one of the best renovation projects you can undertake if you want to increase your home’s resale value and attractiveness to potential buyers.
The typical cost range for a bathroom remodel ranges from $6,200 to $15,250, with a national average of $10,800. You can expect to recoup an average of about two-thirds of your investment in remodeling a bathroom when you sell your home. Moreover, a home that’s been recently updated tends to attract a committed buyer more quickly.
Upscale bathroom remodels can average much higher at around $65,000. Mid-range remodels typically earn a slightly higher ROI, recouping around 67% of the remodel cost, whereas upscale remodels earn an average of just over 60% back in the sale.
Homes with only one or one and a half bathrooms can truly benefit from adding an additional bathroom, whether full or half-bath. Most current buyers want more than one full bath, especially families with young children who need additional space to make evening baths simpler and speedier. Whole or half-bath additions that are either midrange or luxury bring an average ROI of 55%.
Whether you’re currently working with cold outdated tiles, peeling and cracked laminate or other materials, substandard or damaged flooring in a bathroom can make the entire space look and feel dated. You may also want to consider adding heated flooring, which can provide a luxurious touch and really appeal to potential purchasers on a cold morning. Upgrading your home’s flooring generally is considered a prudent investment, yielding an average ROI of 107%.
One of the most popular upgrades for primary baths is to swap out a single pedestal sink or small vanity for a larger model that includes a dual sink, plenty of storage, and modern finishes such as granite.
Also consider swapping out a standard tub for a larger walk-in shower with high-end fixtures such as a rainfall showerhead. Just make sure you leave at least one tub in another bathroom, as most families shopping for a new home will expect that.
“Painting, lighting, and any upgrade on storage can have a major impact on the look, feel, and value of your space,” says Eugene Colberg, architect and founder of Colberg Architecture. “If you’re looking for the most bang for your buck, these simple fixes will brighten and improve any bathroom space. Whether it’s a surface mounted medicine cabinet or decorative shelving, you can do this easily, whether you DIY or hire a pro.”
To heighten the ROI from your bathroom renovation project, consider the following three tips:
1. Put repairs ahead of purely aesthetic upgrades. If some feature of your bathroom is visibly damaged, fixing that will have a bigger impact on a potential sale than something like a new paint color or prettier light fixtures. The same is true of repair projects that address things like mold, leaks, or cracked tiles. Additionally, if your bathroom currently has insufficient ventilation, improving this feature can also help sell your home for a higher price.
2. Look at low-cost changes. Often the least expensive improvements can provide a significant bump to your house value. Switching out your current light fixtures for something more current, adding storage, a fresh coat of paint, or swapping an old scratched mirror for a brand new one may all seem pretty low-key, but they can create a much more modern vibe for potential home buyers.
3. Keep it neutral and traditional. If you want to maximize your ROI, consider sacrificing bold aesthetic declarations for a neutral color palette and traditional design scheme. Modern lines and neutral tones will appeal to most home buyers, who can either project their own design over the canvas you’ve presented or see themselves enjoying the space as-is.
Some bathroom upgrades typically don’t add much value to your house’s value, usually because active home buyers are leery of them either because they require a great deal of upkeep.
One of the lowest ROI projects is swapping out a regular tub for a jet tub model. While it might seem like a fantasy spa upgrade for a primary bathroom, the reality is a bit different. Jet tubs can be hard to keep maintained. They also tend to break down easily, which means you’ll have to eat the cost of bringing an experienced repair professional to your home. Steam showers are another example of low-ROI upgrades for similar reasons.
If you’re planning on selling your home at any point in the near future, you’ll probably enjoy a higher ROI on the renovation work if you hire a licensed and experienced bathroom remodeler near you to complete the work.
Some simple bathroom upgrades can be safely performed on a DIY basis, such as new paint or swapping out a tired old faucet for a newer model. However, if you’re undertaking more complex jobs, such as replacing flooring, bringing in a new vanity, or creating a walk-in shower where there used to be a standard tub, then you’re far better off hiring a professional.
