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There are many ways you can preserve the value of your home. Maintaining and repairing your property is one way to achieve that goal. However, you have the possibility to increase its value as well.
The number one method to boost the value of your home is through renovation and remodeling. Many homeowners opt for bathroom upgrades because home buyers love functional and aesthetically pleasing bathrooms.
Keep in mind that not all the bathroom upgrades are equal in terms of the added value potential, says Sterling Property Solutions. Some improvements may bring you back considerably more money when closing the sale one day.
Now we are exploring the topic of bathroom upgrade in depth. You’ll learn which bathroom updates carry the highest potential for the return on your initial investment.
The Starting Point: Bathroom Upgrades
Bathrooms can make or break a home sale. While the high desirability of your home’s bathroom won’t necessarily compensate the full amount you put in during the project, bathroom upgrades are one of the higher return projects in any home.
The associated costs depend on the materials, manpower, and scope of the project. Minor remodels could easily start from $10,000. At the same time, upscale renovation projects can exceed $60,000.
When we look at the return on investment, a multitude of studies have been conducted on this topic. Generally, you could expect a return of up to 70% on a midrange bathroom upgrade.
Even simple and cheap improvements can make a substantial difference when you want to sell your home in the future. Things like new fixtures, upgraded hardware, and re-caulking raise the perceived value of your bathroom.
In addition to monetary value, you may consider the joy score. This metric was invented so that there would be a way to measure a homeowner’s satisfaction and enjoyment.
The NAR has released data that shows how the bathroom renovation joy score is a whopping 9.6 on a 1-10 scale. And there is no difference whether the remodeling was a professional job or a DIY project.
What are the best bathroom upgrades to increase your home’s value?
Now we are going over particular upgrades that have the best potential for boosting your property’s resale value.
#1: Make it “greener”
Energy-efficiency is something that more home buyers are looking for. That’s why many homeowners are currently finding ways to make their properties greener and more sustainable.
The bathroom is one of the most energy-use intensive areas of your home. Resources like electricity and water are likely to be used at a higher rate than in other structures.
Use only energy-efficient lighting such as modern LED solutions. Purchase a high-efficiency sink faucet and showerhead. Finally, upgrade your toilet because the newer models have much better efficiency than the older products.
#2: Consider a walk-in shower
When you are upgrading your master bathroom, it pays to switch the old bathtub for a walk-in shower. As the popularity of walk-in showers grows, you could benefit from this trend. However, keep tubs in your other bathrooms. Replacing all the tubs with walk-in showers could actually lower the value of your property.
#3: Check your vanity
Upgraded vanity could have a great return on investment. Do a single project that covers all the vanities in your bathroom. This is the best approach because a unified design and color scheme will make the final result much better.
#4: Upgrade the flooring
Homeowners who upgrade their bathroom floorings could be making a top-grade investment. The initial costs aren’t huge, but the results could completely change the look of your bathroom.
We recommend installing porcelain or ceramic tiles. This type of flooring works great in the bathroom as the material is waterproof and durable. Additionally, these materials are not too expensive compared to the alternatives.
Would you like to have next-level comfort in your bathroom? Install floor heating. The idea of stepping on a warm floor in the colder season is enticing, to say the least.
#5: Update your plumbing fixtures
When your fixtures are old, the entire bathroom will seem worn and outdated. Buying new showerheads and faucets doesn’t result in big expenses, yet the difference in the bathroom’s look and feel may be tremendous. The fresher feel of your bathroom will increase the value of your entire home.
#6: Reface your cabinets
The condition of your cabinets makes a considerable difference. You should reface your cabinets if they look old-fashioned and dull. Sometimes even a simple update to the hardware will do the trick. The goal is to make your bathroom look nice and modern.
In a nutshell: Bathroom Upgrades to Increase Your Home’s Value
Remodeling and renovation projects can significantly increase the value of your home. But when it comes to bathrooms, even simple upgrades can bolster the worth of your property.
These are our top bathroom update suggestions to boost your home’s value:
- Reface your tired cabinets and purchase new hardware
- Upgrade the worn plumbing fixtures for a fresh look
- Create a sustainable and energy-efficient bathroom
- Consider switching the master bathroom tub to a walk-in shower
- Add new flooring to update the look and feel of your bathroom