You have been shopping for homes in a new area, and are planning to sell. Your bathroom is out of date and you are wondering if you need a bathroom remodel before putting your home on the market. We want the answer to be a resounding “Yes!”, but the truth is that it depends. Is it so outdated that it will turn off prospective buyers? Then you need bathroom remodeling. If it is only a few years old, but you installed some items that fell out of fashion, the answer is maybe. Have no plans to sell your home, but need to know if bathroom remodel will provide a return on investment in case you change your mind next year? Read below to find out everything you need to know about getting a return on investment from your bathroom renovations.
Need more help getting the best return on investment from your bathroom remodel? Call or email Flooring Masters & Professional Remodelers today for a free consultation.
What Does a Bathroom Remodel Cost?
You can DIY a bathroom makeover with a coat of paint and a new mirror at nearly no cost. A large mirror makes a small bathroom appear larger. But if your remodeling project is too big to take on yourself, or if your design ideas are beyond your skills, Flooring Masters is here to help. Hiring a contractor for full bathroom remodels can cost anywhere from $3,000-$15,000 for labor and materials. We do what we can to help our customers keep material costs low by letting you acquire your own materials and fixtures. We even provide access to our suppliers, along with our discount.
I Want to Sell My Home, But I Don’t Want to Lose Money Remodeling My Bathroom
If you are considering remodeling your bathroom because you intend to sell, you need to know if your neighborhood has a demand for an updated bathroom. When homes in your zip code are selling at their list prices without bathroom updates, it is unnecessary. In a new or up and coming neighborhood, you will need your bathroom to be current. New homes being built near you means you need a new bathroom to compete.
Consult An Expert
The best course of action in this situation is to ask your real estate agent what home features sell best in your area. Just because you have the money for remodeling your bathroom does not mean that you must remodel. Your agent may tell you that your money is better spent on installing veneer siding, new flooring in the living room, or any number of other improvements that sell well in your area. Some of which may have a return on investment above 100%. A middle of the road bathroom remodel in a mid range home provides about a 70% return.
When is a Bathroom Upgrade Unavoidable?
If your bathroom is already in need of repairs, a bathroom upgrade is a must. Problems like cracked tile, mold, leaks, or water damage will have to be repaired before placing your home on the market or they will come up in the inspection, and drop the value of your home. The return on investment on a bathroom in need of repair is much worse than the ROI for a new bathroom.
How Do I Maximize My Return?
Your ROI will always be better when you spend less. Many people make the mistake of spending far too much on frivolous features that provide no return in their bathrooms. First, fix anything that would look bad to a prospective buyer. Cracks, stains, leaks, any eyesore of any sort.
Inexpensive changes that you can make:
- Paint or refinish cabinets, and replace hardware instead of replacing them.
- Paint the walls as well. Stick to neutral colors.
- Also replace towel bars to match new cabinet hardware.
- A new mirror goes a long way, and is low cost.
- Don’t skip the new toilet.
- New lighting works wonders, and is low cost.
- Replace your basin if it is scuffed or scratched.
- Refinish your scratched bathtub instead of replacing it to save on your bath remodel.
Bathroom Remodeling – Function or Form?
The most important thing to keep in mind is that, first and foremost, a bathroom must be functional. The layout should allow all doors to open fully, and there should be plenty of storage. If it has either of these problems, talk to a bathroom renovation professional about what you can do to fix it, and to keep it low cost.
What About Design?
The color of your bathroom will greatly affect its appeal. Few people want a bright orange and pink privy. Neutral colors are a safe bet. Everyone prefers neutral paint and tile, with some flashes of accent colors. A neutral blue, like periwinkle, is a safe bet. There is research that suggests that a periwinkle blue bathroom will increase your home’s overall sale price.
Worst Improvements for ROI
Do not install a jet powered bathtub, or steam shower if you are looking to get a return on investment. These features are great for your own enjoyment and relaxation, but when it is time to sell, expensive and unnecessary additions always lose money. Prospective buyers do not want extra maintenance and more things that could require repairs in the future.
Bathroom Remodeling – Features to Update
If your bathroom is not well lit, new lighting and/or a new window are both great improvements that will make the space more desirable. Especially if it is a small space. Better lighting, and lights colors make it appear larger. One of the best upgrades you can make is to the vanity. If you have a pedestal sink, or small vanity install the largest vanity possible. Everyone always needs more storage. Function over form. Replacing old flooring refreshes the entire room, and provides a great return on investment.
Takeaway
As long as you make the right decisions, and keep costs low when remodeling, it will help your home sell quickly, and provide a good return on investment. At a minimum, painting and making any necessary repairs will help your cause. We believe that a great middle of the road solution to getting a good return on investment for your bathroom remodeling is to maximize your vanity, upgrade your mirror and lighting, and install new flooring. However, it may make sense to replace all of your fixtures if you are competing with brand new homes.
Need more help getting the best return on investment from your bathroom remodel? Call or email Flooring Masters & Professional Remodelers today for a free consultation.
