3 Things To Consider When Renovating Your Bathroom
When it comes to home renovations that have a high return on investment, bathroom renovations are high on the list. A bathroom remodel can increase your home's value and make it more attractive to potential buyers. When purchasing a home, potential home buyers tend to look most closely at the kitchen and the bathrooms. If your bathrooms are outdated, in disrepair, or simply need some attention, a bathroom renovation may be a good idea. Here are three things to consider when renovating your bathroom.
The cost of renovating your bathroom can vary depending on how much work needs to be done. The typical range for a bathroom remodel is between $5,923 and $14,045. If you are making a few mainly cosmetic changes or if your bathroom is small, you can expect to pay anywhere from $3,500 to $7,000. Large master bathroom renovations tend to be pricier and can cost upwards of $13,000. Going with high-end materials for your remodel can increase your cost. Another thing that can make your remodel more expensive is moving plumbing fixtures.
Return On Investment
Even just a few improvements to your bathroom can make a big difference. The return on investment for your bathroom remodel can vary. In some neighborhood a bathroom remodel might have a better return than in others. The average return on investment for a bathroom remodel is between 64.8 and 68.4 percent. However, if you are looking for the best possible return on investment, it's important to not overdo the renovation. A high-end bathroom remodel has a return on investment of only 56.7 percent. So unless you live in a neighborhood where high-end bathrooms are the norm, it's best to go with a mid-range renovation.
Consider The Entire Home
If your home has multiple bathrooms, it can be difficult to renovate all of them. The bathroom that home buyers pay the most attention to is the master bathroom. If you can only afford to remodel one bathroom, the master bathroom is most likely to make the biggest impact if you plan on selling your home in the future. Another thing to consider is the style of your bathrooms. Having a cohesive style when it comes to the bathrooms in your home can attract potential buyers. Even just a change of paint and new fixtures can make the bathrooms feel more coordinated.
Renovating your bathroom can be pricey, sometimes costing over $10,000. When renovating your bathroom it's important to consider your return on investment. Mid-range remodels tend to have the best returns. A master bathroom is also likely to have the biggest impact when it comes to bathroom remodels. For more information, contact a company like Guthrie Kitchen & Bath Plus LLC.