When it comes to home remodels, one of the most popular rooms to have done is going to be the bathroom. In fact, it is a known fact among real estate brokers that bathrooms are going to be one of the biggest deal breakers when it comes to selling a house. Potential home buyers normally place a very hard minimum on how many bathrooms they want their house to have, as well as how nice that bathroom is. With that being said, is a bathroom remodel really able to help increase the value of your home?
When it comes to a bathroom remodel, you are more than likely not going to recover everything that you have spent on updating it when you sell your home. On the other hand, a bathroom remodel is going to be one of the higher return projects that you can do to your home. On top of that, when you have a brand new bathroom in your home, it is going to help to increase the number of offers that you will receive on your home, with some of the smaller, more inexpensive updates in this room fetching you up to 2-3% more on the final sale price of your home.
With that being said though, there is a catch. That catch is literally every decision that you make for this space (from the style of tub, to the pattern of the tiles), is going to be high stakes.
Average Cost of a Bathroom Remodel
When it comes to how much you can expect to spend on your bathroom remodel, it is going to be dependent upon a few different factors. According to Gregory Built Bathroom Renovations, those factors include:
- The contractor you use
- The timeframe allowed
- The materials that you use
- How much you are changing the room
Studies have shown that the average bathroom remodel is going to cost around $19,000, with the more upscale bathroom remodels running around $62,000. That being said, you will need to keep in mind that just because you have done an upscale bathroom remodel, does not mean that you will be getting a higher return when it comes time to sell your home (as compared to a low to mid-range remodel).
In fact, it is recommended that you focus on the simpler types of improvements when your bathroom is concerned. These can include things such as re-caulking your tub and shower, upgrading to new fixtures, and even replacing your old toilet with a brand new one.
ROI for Bathroom Remodels
When a bathroom remodel has been done correctly, you can expect to recover about 50%, or half of the total cost that you put into it. While that may not sound like a very good return on investment, it is going to help you sell your home faster, as well as be a much more enjoyable bathroom for you to use until the house is sold. So knowing this, you are going to need to weigh the pros and the cons when it comes to remodeling your bathroom.