Any time a homeowner considers a home renovation, it’s usually because they either want to enjoy their space more or add more value to their property. Of course, sometimes adding extra value doesn’t always pay off, but in some ways adding additional value to your home renovation can be profitable. And one is if you decide to renovate by fixing a bathroom. Bathrooms in good condition can then increase the total price of your house when it comes time for you to sell.
Bathroom renovations are popular, but they’re also tricky. Remodelers know that the first step to a successful bathroom re-do is working with homeowners who already know what they want from the project. Maybe you’ve considered remodeling your home before and coming up with your plan.
We want to remind you that it’s because, for a bathroom renovation to be a success, you must consider not just colour schemes, lighting, and tile; but also storage space in all bathrooms as well as practicality, in terms of accessibility and use, among many other factors. Letting your remodeler lead the way can help you get started on your remodeled bathroom sooner rather than later.
A bathroom renovation will require a lot of heavy-duty work. Not all the tools will be on hand, and you might even have to call in some experts who can take care of things like plumbing tasks. Before diving into your bathroom remodel, though, here, we’ll tell you how much a bathroom renovation can increase the price of your home and point out some ways you can maximize your profits.
Renovation Index conducted a study where they surveyed the National Association of Realtors, residential real estate agents, to gather data on the estimated remodeling return rate. The surprising results paint an exciting picture of what value one can expect to recoup upon resale based on different renovation categories.
Their findings indicate that if you’re planning to renovate your main bathroom, you can expect to see at least (140,000 AED) (for an upscale remodel) or (73,500 AED) (for a midrange remodel) returned in equity upon sale. Should you be thinking about selling your home anytime soon (in the next few years) and have the funds available for a more significant overall project, it would make sense for you to opt for a more considerable addition which should bring in somewhere around (98,500 AED) in return when going with a midrange option or (183,500 AED) when going top-line.
Adding a New Bathroom in Your Home
If you have extra space and not enough bathrooms, you may want to plan on adding a bathroom. Many people are looking for affordable housing options with an additional bathroom. One place to find them is by checking out homes with second bathrooms that haven’t sold well in the past. If you have an unused room in your home that could be converted into an extra bathroom and improve the value of your property, additional tiles might help.
To know whether a bathroom upgrade is doable, you must choose what kind of bathroom you want to add. Suppose you are the owner of your own business. In that case, you need to hire either an appraiser because they will estimate how much value it will add to your home or if you don’t want to pay for an appraisal, then ask a Realtor about their existing clients. The latter have recently renovated with them (among other things).
So make sure that when looking for someone, it’s always best to recommend referrals from people in your network because word of mouth is almost always the most trusted source. Asking around can often yield outstanding results as well, and let’s be honest here: everybody loves talking — so why not get some valued advice while they’re at it? And the final way we will suggest that might prove helpful is by asking your realtor what the average price tag is around town for homes in your neighbourhood and comparing it to yours.
If you own any real estate property, an excellent way to pay for remodeling or to build an addition to that property is by taking out a loan on your house. The return on investment (ROI) tends to be higher with these types of loans than with other types of financing.
For example, let’s say you have equity in your home and are considering using it to fund a remodel of the bathroom or add an addition to it. Or, maybe you are thinking about doing some home renovations generally but don’t know which option would be the most economically viable for you.
Whatever the case, you should always consider what sort of effect these changes will have on the overall value of your real estate property. Not only does this factor play into whether your project would yield enough ROI on its own, but it also plays into whether this type of project is worth pursuing in light of how much money can be made by simply selling your existing house.
When Renovations Bathroom For Getting Good ROI
While remodeling your bathroom, many features can be upgraded and installed. But not all will provide a better return on investment (ROI) than others. Minor, inexpensive updates that offer effective ROI include
One project Glenn suggests for making the most of remodeling your bathroom is to update the sink and/or vanity first. This can be done quickly and affordably given that this wall is basically a free-standing wall at this point and is easy to update and redesign. Vanity is what hides all that plumbing before revealing a clean and modern flat surface for your sink.
But it also will typically include countertops, faucets, and sinks as part of its functionality. While these are undoubtedly expensive line items within your budget, buying the most contemporary design can significantly impact how much you can sell your home for at resale. Those eager buyers who are shopping for new homes or simply looking to move up may be willing to pay more than others because they got such a beautiful bathroom as part of their purchase.
Refinishing your bathroom floors with a different flooring texture will give your home a new appearance. You can restore your antique tiles cheaply by refinishing them, or you can better control what replaces them with products that come in various styles, sizes, and prices. Also, protect the type of tile you choose for your bathroom by grouting well and placing floor mats in front of the wet benches or bathtub. Just another great way to increase value when it’s time to sell.
Your choice of bathtub or shower will be simple or striking, particularly with the main bathroom. Today’s trends are leaning toward choosing a walk-in shower instead of a bathtub because people don’t use them as often, and they’re easier to maintain. A jetted tub still allows you to soak in luxury without taking up too much time, but the logic is that people only need it on special occasions. The reason behind this change is comfortability and ease of maintenance – today’s homeowners don’t need anything fancy when they run their daily routine because they only need to shower daily.
Unlike other remodeling projects, it may seem like a minor element of your bathroom makeover, but lighting fixtures can make or break the overall appearance of the space. Dim, outdated lighting will take away the new look you want for your bathroom even if you’ve spent a lot of money on it in other areas. Consider updating your vanity lighting as a small affordable way to ensure the bathroom looks great and gets updated with modern style.
Why Does a Bathroom Remodel Increase Home Value?
While your home’s bathroom might be one of the essential rooms, it’s also necessary that potential buyers will think so too. As such, you need to make sure that their expectations match up with what they like seeing because even small details like having a window in the shower or an excellent colour on the walls can have a significant impact.
If a buyer (who is already anticipating something pleasant) likes what they see and hear when they walk through your front door, it will ultimately increase your chances of selling your house.
Mould and mildew are unsightly and may make you sick. While they might be easy to hide during the tour, an inspector will surely be able to identify potential problems if you have leaky pipes or poor ventilation. Of course, no one wants to remodel their home to update aesthetics, but mould-resistant sealants will give you peace of mind that your remodeling project was well worth it.
2. Modern Design
While there’s nothing wrong with antique-style features and designs, it is worth noting that modern fixtures have been designed to provide convenience and efficiency at their most basic level. As a result, they are very much in tune with the times we live in right now, which isn’t surprising when you think about it.
Increasing energy consumption is what most people are trying to avoid when they choose a home to purchase or improve. Today, homeowners sometimes even buy a new home to reduce the energy they will use every waking hour. So, consider using more modern and efficient alternatives instead of installing older appliances that run on electricity or refuse to supply hot water at a manageable temperature. This will save you money in the long run instead of replacing them with older appliances that will inevitably break down faster than newer ones.
Can Bathroom Remodeling Increase Your Home Value?
Yes, Whether or not it’s possible to increase the value of your home by remodeling a bathroom depends on many other factors, such as market trends and even the neighbourhood where you live. Therefore, it’s tough for us to give you an exact answer about whether or not it’ll be a good investment because we don’t know your specific situation. However, if you ask us is it possible, then we would say yes because of all the reasons mentioned previously.
From the moment you decide to start remodeling your bathroom, you will have to decide how much to spend on the project. Remodeling a bathroom will be one of the most important steps in creating a house that you have always wanted. However, remodeling a bathroom is not a small task and can be quite expensive. We hope that this blog will help you to learn about the different factors that can help you determine how much your bathroom remodeling project will cost.