How much does a bathroom remodel increase home value 2022?
How Much Does a Bathroom Remodel Add to the Value of a Home?
One of the most popular home improvement projects is a bathroom remodel. It can also be one of the most expensive, costing between $10,000 and $20,000 on average. But how much does a bathroom remodel add to the value of a home?
The answer is determined by several factors, including the size and condition of your existing bathroom, the quality of the materials used, and the scope of the renovation. A simple update, such as new fixtures and paint, may not significantly increase the value of your home. A more extensive remodel, such as new flooring, tile work, or a custom shower, could increase the value.
If you plan to sell your home soon, you should consult with a real estate agent to get an estimate of how much your bathroom remodel will increase home value. They can tell you what buyers in your area want and how much they’re willing to pay for it.
In general, you can expect to recoup 50% to 80% of your bathroom remodel investment when you sell your home. So, if you spend $10,000 on a renovation, you could see a $5,000 to $8,000 increase in value. Of course, this is only a general guideline; your actual return on investment will be determined by a variety of factors unique to your situation.
Do it Yourself or Hire Local Contractors?
There are several factors to consider when deciding whether to do your own bathroom remodeling or hire local contractors. The first is the project’s scope. A simple refresh with new paint, fixtures, and hardware can be done on your own with minimal disruption to your daily routine. More extensive renovations, such as reconfiguring the layout, adding or removing walls, or changing the plumbing, will necessitate the assistance of licensed professionals.
The second consideration is your budget. You can often save money on labor costs if you have the time and patience to complete a DIY project. However, if you need the work done quickly or are unsure of your handyman abilities, hiring a contractor is usually a good investment.
Finally, consider your own personal stress level. If dealing with permits, ordering materials, and coordinating tradespeople sounds like too much trouble, then hiring a professional is probably the best option. However, if you’re up for a challenge and enjoy being involved in every step of the process, DIYing your bathroom remodel could be right up your alley.
A bathroom remodel is an excellent way to increase the value of your home. If you intend to sell your home in the near future, a bathroom remodel can help you get top dollar. Even if you do not intend to sell your home anytime soon, a bathroom remodel can add value to your life by making it a more enjoyable and functional space.