Bathroom Remodels are a Smart Investment
If you’re considering remodeling your bathroom, you’ll be happy to know that it’s a smart investment. According to a new study by Remodeling magazine, homeowners in all 50 states can expect an average return on investment of 60 percent when they remodel their bathrooms. The study looked at the cost of a full bathroom remodel in 2022 as well as the expected resale value of the property after the renovation.
A bathroom remodel will cost an average of $26,574 in 2022, but homeowners can expect a $15,944 increase in resale value. This means that, on average, a bathroom remodel will pay for itself and then some when the property is sold. So, if you’re thinking about remodeling your bathroom in the near future, know that you’ll get a good return on your investment.
Why Bathroom Remodels are a Good Investment
There are several reasons why bathroom remodels are such a good investment. First of all, bathrooms are one of the most important rooms in the house. They’re used every day, and potential homebuyers always want to see a nice, updated bathroom. Secondly, unlike other rooms in the house that can be customized to the homeowner’s taste (e.g., living room, kitchen), bathrooms need to meet certain standards in order to be functional.
This means that potential homebuyers are looking for certain features in a bathroom, and if your bathroom doesn’t have those features, they may be turned off by your property. Finally, because bathrooms are small rooms, they don’t require as much time or money to renovate as other rooms in the house (e.g., kitchens). This makes them a more affordable option for many homeowners.
Remodeling your bathroom is a smart investment because it will increase the value of your home while also making it more appealing to potential buyers. Bathrooms are one of the most important rooms in the house, and having an updated bathroom is something that many potential buyers are looking for. Because bathrooms are small rooms, they don’t require as much time or money to renovate as other rooms in the house. So, if you’re thinking about remodeling your bathroom soon, know that you’ll get a good return on your investment.