It’s no surprise that in terms of room renovations, bathroom and basement remodels provide a lot of value. Finishing a basement into hundreds or thousands of feet of newly livable space provides a good return on investment. This is why these two spaces are common remodeling projects, especially for homeowners who are looking to sell.
However, a bathroom renovation can be accomplished with a much smaller upfront cost. It’s a smaller room, with fewer fixtures, and those fixtures and materials often don’t need to be replaced in order for the house to sell. However, if your bathroom is outdated, and could potentially keep your home away from a sale, it’s important to set a budget and call a contractor to get the most out of your remodeling project, and your home.
Bathroom Renovations That Add Value
The bathroom is a place of comfort, solace, and relaxation within our homes. It’s no wonder why so much of Flooring Master’s expertises is used to remodel bathrooms. Homeowners looking to sell often need to update their bathroom to get the most out of their sale price. This cost versus value report states that “a midrange-budget bath remodel, with an average price tag of $24,606, will yield an ROI of 66.7 percent. Basically, it involves replacing all the fixtures (tub, toilet, vanity) with fresher, modern versions.” However, it always comes down to the details, and you can get a higher ROI out of spending less in the bathroom. As long as your fixtures are not damaged, keep them. Simply replacing old flooring with new tile can provide a generous boost to the value of your home. Other low cost improvements to your bathroom that may positively impact the price of your home are:
- A deep cleaning only costs time.
- A coat of paint refreshes the look of your bathroom.
- A new backsplash and sink fixture gives your bathroom a brand new look at a low cost.
- New flooring totally refreshes the bathroom.
- Tiling the walls, along with the floor, gives an old bathroom a totally new look.
Should I Replace My Bathroom Fixtures?
If your toilet, tub, and shower are old, outdated, or have mold problems, yes. Outdated bathroom fixtures can prevent the sale of a home.
What Colors Add Value?
If your bathroom is any color that is not close to white, you may have problems selling your home. White tile, white toilet, white tub. If the tile is not white, it should be a neutral color. Just a shade or two away from white. Everyone expects this color scheme in the bathroom, and any colors that are too far away from white may result in missed opportunities. So if you’re looking to add value to your home, and to sell, choose white, a neutral blue, or another popular bathroom color to prevent these problems. However, you might add some pops of color with some bright accent tiles in the backsplash, floor, or shower. The furnishings within the bathroom can also contrast the overall neutral color of a bathroom without creating problems.
The Value of Eco Friendly Energy Efficiency in Your Bathroom
Many potential homebuyers are looking for energy efficient, eco friendly features in the homes that they buy. This includes a new window, and new exhaust fan in the bathroom. A low flow toilet is a great, modern money saving feature that should be carefully considered in a bathroom remodel.
But it is important to consider waste when trying to keep your remodeling project green. Luxury Vinyl Tile (LVT) is a great low cost option for your bathroom flooring. However, LVT wears out quickly, and all of those vinyl tiles must be disposed of when it is time for new flooring. Tile is extremely durable, and can last a lifetime. In addition, it’s made from natural materials.
Basement Remodeling Adds Value
If you have an unfinished basement, finishing it provides a great return in terms of value added to your home. “On average, finishing your basement will provide a 70% to 75% return on investment” according to Angi’s List. the National Association of Realtors’ 2022 Remodeling Impact Report says that “a full basement reno can deliver as much as an 86 percent return on investment.” This high return is a result of expanding the livable space of your home without adding to the home’s footprint. A finished basement provides a better return than a room addition because there is no pouring a new concrete foundation, and the plumbing, electricity, and HVAC require a lot less work.
What Do I Do With My Basement?
Since 2020, millions of people are working from home, and need home offices. The basement is a perfect, quiet place for that. If you’re looking to finish your basement, and sell your home fast, consider building a home office as part of that. But there are many things you can do with the rest of your basement. Turn it into a theater, a speakeasy, create a home gym, or if you aren’t looking to sell, you might consider remodeling your basement into a small apartment for some extra income. We went over basement finishing ideas here and here.
What Do I Choose for My Basement Flooring?
The most cost effective flooring for a finished basement is Luxury Vinyl Tile, or Luxury Vinyl Planks. These types of flooring withstand the moisture that may arise in a basement, and don’t break the bank. However, we always recommend the durability, versatility, and moisture resistance of ceramic tile. But if you’re looking to sell, LVT is often the best choice for this purpose.
How Long Does it Take?
The schedule of finishing a basement depends on many different factors. If you’re just framing up the walls of the basement and not dividing it into rooms, putting up drywall, painting, and adding flooring, a finished basement might be done in a couple of days. However, a very basic finished basement that is all one room won’t add the most value. We did a deep dive on how long your basement project will take.
The Flooring Masters team is happy to help you get the best return on investment out of your remodeling project. Please Call or Email us for a free estimate today.
