How Much Does a Bathroom Remodel Add to the Value of a Home?
Many homeowners are always looking for ways to make their property more appealing to prospective buyers when it comes to home improvements. A full bathroom remodel is one of the most popular upgrades, and it usually has a significant impact on home value.
The average cost of a full bathroom remodel, according to a recent Remodeling Industry Magazine study, is $26,574. For which homeowners can expect a resale return of approximately 60% — approximately $15,944. Despite being one of the more expensive home improvements, bathroom remodels are generally well-received by buyers.
Indeed, according to Realtor.com®, 92 percent of homeowners say they would recommend a full bathroom renovation to a buyer. This high level of satisfaction is most likely due to the fact that bathrooms are frequently focal points in homes and can have a significant impact on how people feel about living in them.
Whether you’re just getting started on your bathroom remodel or you’ve already decided what you want, make sure to discuss all of your options with your contractor so you can get the job done right and maximize your return on investment.
What are the advantages of remodeling a bathroom?
Depending on the details of your project, a bathroom remodel can increase the value of your home. According to a Remodeling Magazine study, a typical bathroom remodel increases home values by 5% on average. Here are some of the advantages:
1. Enhanced curb appeal. A well-executed bathroom remodel can make your home appear newer and more modern, potentially leading to a higher selling price.
2. Increased functionality. With more storage and better lighting, a renovated bathroom can be more user-friendly. This may increase the number of people interested in living in your home and make it more appealing to potential buyers.
3. Improved material quality. When you upgrade the materials used in a bathroom remodel, you’re also improving the finished product’s quality. Even if you don’t sell your home right away, this may increase its value.
4. Lower maintenance costs. A well-executed bathroom remodeling project can save you time and money on future repairs and replacements, such as plumbing or flooring issues.