Bathroom Upgrades with the Greatest ROI
If you’ve ever watched a show on HGTV, you know that two key areas of a home can make or break a home sale. I’m talking about kitchens and bathrooms. Today, I want to talk to you about the latter — and what you can do to spruce it up, whether you’re preparing your home for sale or simply want to improve your space.
Bathroom renovations typically have a high return on investment. HGTV estimates the ROI on bathroom renovation spending is 80-130%. According to the estimates provided by the National Association of Realtors®, a bathroom remodel can recoup 60% of the amount you’ve put into it.
So what are some things you can do to capitalize on this high-traffic space in your home?
While sinking $10,000 into average bathroom remodeling and $26,000 for more upscale renovations (the national averages according to Remodeling magazine) may seem like an extravagant expense, your bathroom greatly affects your home’s value.
An immaculate modern bathroom communicates consciously and subconsciously to the comfort, style, and value the rest of home portrays. Nothing is more alienating to a prospective buyer than an outdated, dysfunctional bathroom, especially considering the high costs and headaches associated with water damage and mold growth.
The National Kitchen and Bath Association (NKBA) recommends having a six-month plan to ensure things go smoothly, as major bathroom renovations last between 2 and 3 months on average. Be forewarned: as with most renovation projects, bathroom costs and expectations can quickly get out of hand, especially when homeowners are eager to sell their homes. That said, let’s look at various aspects of the bathroom and see what types of renovations can add more value to your home.
Bathtubs
Choosing the right bathtub for your master bathroom is worth some careful consideration. Some home buyers feel that a bathtub takes up too much space, while others make it a focal point of their relaxation. Some buyers prefer or need accessibility (i.e. mobility-impaired individuals), and for them, a bathtub may be a deal-breaker. For those that prefer elegance, a clawfoot tub may be appealing. Having a bathtub in one bathroom and a shower in a second is a solution to suit all needs. Ensure that any bathtub you select matches the overall theme of the room (for example, you would not install a Victorian claw-foot tub in a modern bath).
Sinks And Countertops
One way to add value to your bathroom is to focus on the countertops and the sink. A popular trend is to invest in a stone countertop.
Typically, bathroom countertops tend to be smaller than kitchen countertops, so you can spend a significantly smaller amount of money and still get a desirable spa-like quality. One strategy for saving money and adding value is to purchase a slab that contains some imperfections. If you make sure that the imperfections are masked by the sink that will be placed in or on the stone surface, you get the best of both worlds without having to pay the higher price of a flawless slab. It also helps to think creatively.
One common trend for DIYers is to take an old dresser and mount a sink on the top as a pedestal, or recess the sink on the top counter, creating an elegant solution. This is also useful if you’re struggling to find adequate cabinet space to fit the look of your bathroom.
Don’t forget to update the faucet, as wel