Bathroom remodels can significantly increase the value of a home. According to a Cost vs. Value report published by Remodeling magazine, the average homeowner can expect a 70 percent return on investment (ROI) on a bathroom remodel when selling their home.
The decision to remodel a bathroom before selling is not always easy but is often worth deliberation. Modern home buyers tend to appreciate an updated, well-designed bathroom and are often willing to pay more for a move-in-ready house.
Should I Remodel Before Selling?
Bathroom remodels yield the biggest returns when selling a property, according to Zillow, and approximately 26 percent of all sellers make some type of improvement to the bathroom before selling. While not every dollar invested into a bathroom remodel can provide a guaranteed return, a professionally designed bathroom is more likely to attract buyers.
When deciding to remodel before selling, there are several things to consider. First, look at the current condition of the bathroom. Are the materials outdated or damaged? Is there water damage, mold or substandard electrical? If the answer to any of these questions is “yes,” a bathroom remodel is usually a wise choice.
Sellers should also consider the local housing market. Is there a demand for updated bathrooms or is the property competing with newly built homes? If so, remodeling the bathroom may be what the home needs to make a quick and profitable sale. Having these types of updates is especially important when a homeowner is trying to make a quick sale and wants to impress potential buyers.
Top Ways To Achieve The Best ROI
It is a well-known fact that bathroom improvements are one of the best ways to increase the value of a home. However, a full remodel is not always necessary to reap these benefits. There are some profitable projects that homeowners should consider when planning a bathroom remodel.
Start by updating the floor and backsplash. These areas of the bathroom often cover a lot of real estate and can have a major impact when entering the room. Select a classic and versatile tile that is likely to appeal to a general audience. Standard 12” by 12” or 24” by 24” tiles look modern and stylish in nearly any bathroom and are available in a wide range of neutral colors.
Updating fixtures can also make a big difference and yet require a low investment. Even just changing out the sink and shower fixtures can make the space feel more high-end. Consider implementing technology into the bathroom to achieve that “wow” factor. Touch-activated faucets and similar updates are sure to get buyers talking.
When remodeling a bathroom, aim for a universal design with modifications designed for accessibility. Options like zero entry showers can benefit individuals with limited mobility, as well as the elderly and children. Slab countertops are popular in the bathroom as they give a vanity a continuous look that adds elegance and sophistication.
The Cost Of An Average Bathroom Remodel
The average cost of a bathroom remodel is $10,804, according to HomeAdvisor. Most homeowners spend between $6,160 and $15,449 to remodel their bathroom, while larger bathrooms and master baths can cost upwards of $25,000 or more.
Many different features in a bathroom can impact the final cost. The style and size of the bathtub and shower contribute to some of the biggest expenses in a bathroom remodel. Wall and floor tile can also be costly, especially when homeowners choose popular options like porcelain, ceramic or natural stone.
Other expenses include cabinets, vanities, countertops, sinks, toilets, faucets and shower/tub liners. Depending on the homeowner’s location, there may be extra expenses for permits and the disposal of materials. If water damage is discovered during a remodel, any damaged materials will need to be repaired or replaced.
Increasing A Bathroom Remodel’s Return
Many sellers struggle to make necessary improvements in their homes while also staying within budget. Here are a few tips to keep in mind during a bathroom remodel:
Design a Functional Layout
The layout of a bathroom should extend beyond aesthetics. Be sure that the space is functional and convenient, such as having sufficient clearance for cabinet doors and installing electrical outlets near the counter.
Prioritize Repairs and Upgrades
Although there may be many things that a homeowner wants to fix or replace, it may not always be possible with a limited budget. Prioritize what needs to be repaired first before moving onto less important changes.
Opt for a Neutral Design
Consider keeping the bathroom color scheme and overall design neutral. Light, neutral colors often appeal to buyers and are more likely to win buyers over compared to bold colors and busy patterns.
Book An Appointment With An Expert
Ready to get started with your bathroom remodel before putting your home on the market? Reach out to the remodeling professionals at Monumental Contractors to book an appointment today.