Fact or Myth? Bathroom Renovations Helps Increase Your Home Value

When shopping for a new house, people will usually set aside part of their budget for remodeling. Finding the perfect house is not a thing of dreams, but it will surely come at a cost. That’s why most people resort to buying existing homes and then carry out the necessary constructions. However, renovations do not stop there. A huge factor that everyone considers when buying a new house is the kind of options they can add to increase the resale value when the house is put on the market. One of the most popular house renovations are kitchen and bathroom revamps. Apart from the maintenance jobs where you fix water pipes or the heating system, renovations are believed to significantly increase the market value of a house. Although essential, that is not the only reason to take on the hassle of renovating your bathroom(s). Needing bigger bathrooms as your family grows or redesigning to fit a new sleek and practical walk-in shower are all valid reasons that make such renovations worth it. Still, the question remains unanswered: Does renovating your bathroom increase the value of your home? Let’s consider some important factors:

Everyone Values a Decent Bathroom

Think of it this way, a bathroom should always feel welcome with a showering space that provides the refreshment you seek. That is why it makes sense that bathroom remodelling can help improve your home value, given the importance of this space and the importance most people ascribe to an attractive and fancy bathroom when they are in the market for a new home. With the new enhancements, getting popular and more accessible, everyone is keen on installing a jacuzzi system or owning one of those fancy temperature-adjustable toilets. For further proof, statistics show that buyers are willing to pay some extra money for remodeling bathrooms.

The Cost of Renovation vs. Home Value

This is a very important issue to tackle when deciding whether to go for that long due bathroom renovation you want. There is no point in investing in a remodeling job that comprises around 10% of your home’s estimated market value. You can go on with the renovation for your own pleasure, but not for profiteering from it when selling. You will want to look at neighboring homes and figure out whether your whole neighborhood is considered “hot” at the moment by potential buyers. This should give you an idea about how much to spend on your bathroom renovation.

The Feasibility of Enduring a Renovation

One can do with the extra bedroom or dining room being under construction. However, that is not the same case with bathrooms. If your home has only one bathroom, the new buyers might be willing to pay more for your recent renovation just because they do not have the ability to overtake this job themselves. Maybe they do not have anywhere else to go to wait out the bathroom remodeling. Retiling and building or taking down walls are not disruptions to live with. In such cases, your remodeling endeavors will tip the scale in your favor when selling.

Bathroom Renovations Are Inside Work

It is a hard fact that what your house looks like on the outside is what catches people’s interest and gets them intrigued to come to your open house. Given the importance of “curb appeal,” experts recommend spending any renovation money on enhancing the exterior of your house. No matter how fancy your newly remodeled bathroom turned out to be, it is all work on the inside, so it does not really exist to perusing buyers. Yes, you get to enjoy your multiple thousand-dollar shower head, but unfortunately you cannot count on it to do much to leverage your asking price. Unless your house is in tip top shape externally, bathroom renovation for resale purposes is redundant.

Particular Tastes Won’t Help

If you are looking to recover the costs incurred for renovating your bathroom when selling, you need to keep it classy. Make choices that would appeal to the general public. Red and black might be your favorite color combo. However, a red-tiled bathroom with a black sink and toilet is not going to cut it for everyone. By all means, flaunt your extravagant whimsical taste, it’s your house after all. Yet, maybe you can do this with accessories and your collection of towels.

So long as you do not have a short-term plan to sell your home, you should try to find proper renovations through which you can rebuild the bathroom of your dreams without forsaking the shot at a higher market value.