If you have been listing your home for sale in a while, you might have heard of this trick that will remarkable increase your home value. Experts say that the bathroom/s of a house can really increase a value of a home that is listed for sale. In fact, according to some reports and articles, the average midrange bathroom addition project in 2011 and 2012 cost $40,096 and boosted a home’s value by $20,455. Bigger bathroom remodeling and upgrades are found to have given a 55% increase in a home’s value.
However, remodeling a bathroom is not easy. Even planning about it is intimidating and can be overwhelming for some. But, with a little bit of background and information, you can have a better idea on where to start and what to do to prepare your house before selling it—making sure you get as much profit. Here are some tips you should know:
Which ones to remodel?
If you’re getting ready to put your house on the market, you’ll want your bathroom looking its best. You may want to update the following:
- Hardware: Function is always important—oftentimes deemed more important than the looks. It is important that you pay attention to your bathroom’s hardware and renovate and remodel anything that is not in mint condition. Keep in mind that this is going to be an asset since new cabinet hardware is a fairly inexpensive way to make your bathroom more appealing to potential buyers.
- Paint job: This is the best way to have a dramatic effect for little cost. A fresh coat of a neutral, updated color – blues and grays are favorites for bathrooms – can do wonders. If the walls are dingy, remember to clean them before painting.
- Storage and Vanity: If yours is outdated, put in a transitional-style model that combines traditional and contemporary. It could be a wood vanity that’s very streamlined and has simple hardware. Adding the storage that comes with most models is always a plus.
High investment, high returns.
If you’re primarily motivated to increase your home’s value when you decide to add a bathroom, you’ll get a much better return on your investment if you add a full or three-quarter bath instead of a half bath. Don’t be afraid to go big—but keep in mind there’s no need to go over the top. It is important that you acknowledge which actions can be more fruitful in the long run. For instance, adding a half bath boosts your home value by 10.5 percent on average, according to House Logic, but a bathroom with a shower stall or a tub will pump up resale value by 20 percent—which is a dramatic increase. General rule? A larger bath may significantly increase your home’s value.
But don’t go over-budget
Bathroom renovations and remodeling are not cheap by any means, this is why it is important that you’ve set a budget during the planning stage of the project. While most fixtures can be expensive—especially those which are of the highest quality, it is important to shop wisely, be resourceful, and creative. Hunt for bargains! If your area has a Habitat for Humanity or similar store that sells used and donated building materials, it might be a source of bargains. At the same time, you can save big on your materials investment by waiting to purchase fixtures when they’re on sale, or, better yet, take out-of-box items used as display models.
Keep it to scale
Although improvements to your home help boost its value, you’ll have to take care to match the addition to the home. While it is a proven fact that bathrooms increase the value of a home, it doesn’t guarantee that the price you have in mind will materialize. Be realistic about your goals. Keep in mind that there are still other factors potential buyers may consider, such as your location, size of the house, etc.
Choose the best bathroom remodeling company
At the end of the day, bathroom updates are always a smart move. Even if you can’t afford a full remodel, small changes such as replacing dated wallpaper with a faux or textured finish and replacing old lighting will update the room without denting your wallet. Just remember to seek the help of a professional bathroom remodeling company to make sure that you do the job properly, and avoid making a mess in the end.
Remember that when you’re hiring a remodeler, you are buying a service and not a product. Quality of service will determine the quality of the finished project. Select the best candidates based on their credentials, references or reviews, their portfolio and past works, and of course, the personalities of the people who will work with you.