A bathroom is an essential part of your home; what about a renovated bathroom? Renovated bathrooms increase the overall aesthetics of your home, and they have the potential to significantly increase your home's value. Homeowners can expect to regain 72.7% of their return on investment ( ROI) on average, helping you shoot up your home's resale value.
Let's have a look at how various bathroom updates can increase the bathroom's value, how much they cost, and which you should tackle first.
Optimal Bathroom Renovations for Good ROI
When remodeling the bathroom, we need to do a makeover of different features and aspects that will provide better ROI than others.
Lighting - It can flip the feel of a bathroom from a dull ambiance to high-quality lighting functionality. With the help of dimmable LED fixtures, adding scones on both sides of the mirror and lighting updates over the vanity can pop the space in a modern way for a small cost.
Flooring - It is what buyers notice first. Uses of materials like porcelain or ceramic tile provide durability and water resistance, making them absolutely perfect for high-moisture environments. And, budget-friendly alternatives like Luxury vinyl plank (LVP) portray the sight of wood or stone while making it easy to maintain. Also, do a heating upgrade for colder climates.
Bathtub and Shower Replacement - A high-quality trade that can bring the joys of investment. One can do further freestanding tubs for dramatic effect somewhere close to a window. A walk-in shower with frameless glass is known for its sleek, contemporary look. Therefore, do an installation of tub-shower combinations for the accommodation purpose of different choices.
Ventilation Updates - Fitting ventilation is necessary for maintaining the probity of your bathroom. Installation of exhaust fans for the reduction of humidity levels prevents condensation and protects walls and ceilings from mold and mildew.
Average Cost for a Bathroom Renovation V/s ROI
The Cost of Bathroom Renovation varies due to different sizes, the quality of the materials, the demand for the renovation, and final touches. Homeowners mostly spend around $10,000 to $30,000 on a bathroom remodel. But they can expect to recoup an average of about two-thirds of their investment in renovating a bathroom when they sell their home. Furthermore, a home that's been recently remodeled has the capacity to attract a committed buyer more quickly.
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Small Bathroom Renovation: Ranges between $5,000 - $10,000 for minor makeovers such as refreshing the floor, painting the walls, and replacing fixtures.
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Mid-range Bathroom Renovation: Ranges between $15,000-$25,000 for plumbing, electrical work, remodeling or installing tub-shower combination, and replacing vanities. And typically earns higher ROI, regaining around 67% of renovating Costs.
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Upscale Renovation: The amount can extend up to $50,000, installing luxury materials and high-quality features like heated floors. Upscale remodels can earn an average of just over 60% back in the sake.
Ideas That Pay Off
Smart Technology - In addition to the traditional life of your bathroom, that makes it look natural yet contemporary style. It is a premium project where you can start by adding a smart speaker or plug that commands lighting. You can do more upgrades once the budget is bigger, like smart mirrors, starting the shower, and heating the toilet seat with a touch of your phone or voice command.
Estimated Costs: -
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Mid-range Renovation - $500-$2,000 for adding a smart speaker, smart plugs, or a smart showerhead.
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Upscale Renovation - $2,000+ for the installment of a smart toilet, a smart mirror, incorporating lighting and displays, or an entire bathroom suite makeover.
Maximize your storage - Sometimes, the space becomes overwhelming because of the disorganized items in the bathroom, no matter how beautiful the aesthetic is. It could be overflowing cabinets or countertops, or something more. Therefore, be determined to maximize the storage capacity, especially for smaller bathrooms. But one can be creative and create a functional space for all the items present in the room, such as recessed medicine cabinets, pull-out hampers and vertical storage towers.
Estimated Costs: -
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Mid-range Renovation - $3,000-$12,000 for upgradation of new shelves and vanity with drawers, installment of a medicine cabinet, or adding a freestanding storage unit.
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Upscale Renovation - $12,000+ for custom-built cabinetry, a linen closet, and so much more.
Ways to Make Every Dollar Counts
If you are renovating to sell it as soon as possible, make sure you talk to a real estate agent before making any major upgrades. As your bathroom might need minor improvements, that would be solved by fixtures and repairs, and your home inspection would work smoothly before putting up a sale sign. Last-minute renovations should not cause you such stress.
It is advisable for all homeowners to at least consider consulting a licensed and experienced bathroom renovator so that their ROI can increase, especially if they are doing major updates like replacing flooring or creating a walk-in shower where there used to be a tub of good quality because simple and minor changes might be DIY but tough jobs require a professional.
