Home renovations are very common today. Changes are sometimes needed to accommodate a growing family, while older homes need work to keep them up to date and functional. While renewal costs can get expensive, did you know that not renewing could cost you more?
Many real estate experts speculate that the bathroom is one of the most important factors determining the resale value of your home and one of the main concerns of potential buyers. Bathrooms can positively affect home value because of their luxurious features. While all bathrooms have a sink, tub, and toilet, not all have jetted tubs, recessed lighting, or quirky features like heated tile.
While the bathroom may be the most influential factor in a potential homebuyer’s decision, unfortunately in used homes it’s often a negative factor. The bathroom is one of the rooms that is hidden and can be closed with a door, and unlike the living room or the kitchen, it is not visible and can often be ignored and not renovated until it is very old-fashioned. The fact that bathroom renovations are also often expensive can influence a buyer’s decision to move on or buy a home.
Bathroom renovations do not always have to cost a lot of money. Simple renovations still have a high return on investment. A coat of paint or removing rust pink wallpaper can have a huge impact on the overall look of the bathroom. If there are 1970s-era-inspired avocado-colored tiles in your bathroom, there’s still hope, as some companies specialize in painting tiles. A color change to white, black or neutral is something that is more modern and will stay current longer. Changing the lamps can also improve and modernize the bathroom, and can even be an efficient way to save money in the long run. If your bathroom just needs a quick update, try replacing bath towels or simple fixtures as an easy fix.
Bathroom remodeling is so much easier today because there are products made for do-it-yourself homeowners. Products such as tile or wood flooring panels can be purchased and installed with little or no anguish. While all of these changes would affect the appearance and value of your home, the most drastic changes would have an even greater impact. Gutting out the bathroom and installing new shower units, toilets, and sinks would create a completely new bathroom that can increase the sale price and the likelihood of selling your home.
A return on capital estimator calculated that a modest bathroom remodel would have a return of 102.2 percent! While many of our investments are negative right now, a return of more than 100 percent is huge, especially when it comes to the value of your home. For easy fixes and upgrades, your local hardware store is always a good source of information, as is a professional installation company. Ask questions and get the most out of your home!
