Is It A Good Idea To Add A Bathroom?
Adding a full bathroom can increase the median home value by 5.7%, amounting to a $17,638 dollar increase on average. According to Opendoor data, adding a shower, sink, and toilet to an existing space can increase its value. Furthermore, many homeowners believe that adding a full bathroom to their home is an important part of updating it. Full bathrooms are in high demand and are often regarded as luxurious additions to homes, so your efforts should be rewarded. Having more space in your home also allows you to save money on utilities and other living costs.
What does it mean to add a full bathroom?
If you are considering adding a full bathroom to your home, there are a few things you should think about before making the investment. To begin, determine how much the renovation will cost in total. Second, is it necessary to use the restroom? If not, it might be better to save money by adding a half or partial bathroom instead. Third, do you have enough room in your home for the new bathroom? Fourth, will the addition increase the value of your home? Finally, check with your insurance company to see if full bathroom renovations are covered.
When calculating the total cost of the renovation, including any permits or licenses required, as well as any additional materials required for the project, such as tile, countertops, and flooring. Consider any architectural changes that may be required, such as adding a full-height shower enclosure. A good rule of thumb is to budget at least 10% more than you think the renovation will cost.
The Advantages of Including a Full Bathroom
There are numerous advantages to adding a full bathroom, including increased curb appeal, more storage space, and potential tax deductions. While there are a few things to think about before making the investment, adding a full bathroom is usually worthwhile. Among the advantages are:
1) Increased Curb Appeal – A well-maintained full bathroom can add significant curb appeal to your home, assisting in the increase of its value. This not only looks good from the outside, but it can also increase the resale value of your home if you decide to sell in the future.
2) More Storage – Full bathrooms typically have more storage than half bathrooms. This extra space can be used to store linens and towels, making them more organized and accessible. It can also help you save money on closet space by storing clothes in one location rather than dispersing them throughout the house.
3) Potential Tax Deductions – Adding a full bathroom to your home may improve its livability and curb appeal, but that doesn’t mean you have to pay the full cost. In some cases, you may be able to deduct expenses related to the addition, such as flooring and paint. It’s critical to consult with an accountant or tax specialist to see if this is an option for you.
Depending on your circumstances, adding a full bathroom to your home can be a wise investment. If you have children or pets and frequently use the bathroom outside of your home, adding a full bathroom inside may be the best option for you. On the other hand, if you only visit friends or family outside of your home on a regular basis and don’t require a full bathtub/shower area, it may not be worth it to add one to your home. Everything is dependent on the specifics of your situation and what you believe will be most beneficial to you.