How to Increase Your Property Value with a Bathroom Transformation
Speak to anyone about increasing the value of your property, and chances are they would advise you to remodel or renovate your bathroom. On average, it is good advice as a bathroom remodel is guaranteed to increase your property value either for sale or personal use. The only catch is there are many inputs for bathroom transformations, and every single choice made would contribute to making or marring your plans to increase your property value with a remodel. This piece exists to give you all the information you should know when making your decisions and to clearly explain how to go about your bathroom transformation with your property value in mind.
Updating an existing bathroom
If you already have a nice bathroom and want only minor changes, you should be looking to revamp your existing bathroom. This is the ideal option to maximise home value; however, if you’re going to make electrical changes or fix any leaks in your plumbing, then you may need to call in professionals. Money intensive fixes like getting a replacement shower door require you to put more thought into the decision. The cost to change the shower door or change the shower door might be near challenging to recoup in a sale. If you are faced with this exact dilemma, check here to confirm if replacing a shower door is worth it, this will give you some handy advice on the cost vs the return.
It goes without saying that making updates and fixes is the more affordable option when placed side by side with installing a brand new bathroom. You would spend an average of £13,000 and can recoup as much as 66% of your investment on a sale.
Adding new bathroom
Ask a real estate agent for tips to increase property value, and you very likely would be instructed to add more bathrooms. Even if you have the nicest space on the market, if it lacks adequate bathroom and convenience facilities, it becomes challenging to make the sale. However, if your property has free space, you can make those spaces into one or two more bathrooms. It would be costly and arduous to execute, but the results speak for themselves.
Upscale bathroom improvements like this cost an average of £47,000, and you can recoup at least 60% of your investment.
Top improvements to increase property value
You need order to ensure that you get the most returns on your investments. Blind making fixes and renovations would see you spend a lot with little to nothing to show for it after the sale. Instead, the following are KEY improvements you should consider in your bathroom to BOOST your property value.
You don’t want to go around saying the apartment is new or furnished when showing it to potential buyers. You want your space to do all the advertisement for you. One look at neat plumbing and other fixtures in the house, particularly the bathroom, and they would be sold on the idea without needing you to emphasise the details. Plumbing is relatively cheaper than most other fixtures and fittings; as such, it should be your first consideration if you are working with a budget.
This is one of -if not- the most expensive remodel options you can add to your project. On the plus side, a vanity upgrade ensures a more significant return than most. To recoup the most from your investment, you should ensure to put vanities at reasonable heights and preferably with a marble finish.
Fresh paint coat
You don’t necessarily need to change the colour, although that’s not off the table. What is essential is renewing and refreshing the bathroom’s look, and very few things spell NEW like the smell of fresh paint on the wall.
Invest in new flooring
While this would completely change the bathroom’s look, this upgrade option is only advised if you are working with a fat budget. You can decide to DIY the floor installations if your bathroom is small, but if it is a sizable bathroom, you will spend about £3 per square foot for high-end bathrooms and slightly more than £1 for lower end bathrooms.
The world has gone green, and if your house and bathroom don’t have energy-efficient options or energy-saving features, your property is likely to be valued poorly and would probably spend longer than it should on the market. On the other hand, your toilet, sink and shower can be optimised to use less water and would mean money is saved on water bills. This is sure to attract potential buyers and increase the value of your property.
Any renovation done on your property is sure to increase the value, but some bolster the property value more than others, with the bathroom being the best example. Unfortunately, it is possible to renovate your bathroom and still lose out on the sale. This is why it is increasingly vital to crunch down all the info on this post and use it when making your home transformations.
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