Whether you are planning to sell in the short-term or not, it is always useful for homeowners to maximize the value of their house. This gives them an opportunity to sell for a high price when market conditions are appropriate.
Many homeowners wonder what increases home value and which improvements are worthwhile. The bathroom is one of the most significant areas of the house to update. There is a range of renovations and upgrades that can seriously boost your home’s resale value.
Here are a few key points to consider:
How much of an increase to expect
Most people are rightfully wary of investing in bathroom upgrades since they can be fairly expensive in some cases. It is no surprise that most owners wonder how much does remodeling bathroom increase home value.
According to Remodeling Magazine’s 2020 Cost vs. Value Report, the following are the expected increase in home value and ROI on bathroom remodels in the Pacific US:
- Universal design remodel – $25,824 resale value (66.1% ROI on $39,097 job cost)
- Midrange bathroom remodel – $24,757 resale value (66% ROI on a $16,349 job cost)
- Upscale bathroom remodel – $40,882 resale value (54% ROI on $75,763 job cost)
If you want more accurate figures, research the comparables in your local area.
Although the ROI of the remodels listed above don’t go beyond 66.1%, bathroom updates do tend to yield higher returns and better value compared to a metal roofing replacement and a major kitchen remodel.
Additionally, bathroom updates provide the whole family with increased satisfaction, and a remodeling job means a more beautiful and functional bathroom.
Updating the vanity
Nothing dates a bathroom more than an old vanity, which can visually dominate the room. You can update this by replacing countertops, faucet, and the sink as well. 2020 trends point to floating vanities that serve to make the room look larger; quartz, marble, and increasingly, porcelain are popular materials for countertops; and square sinks with wall-mounted faucets in black or brass are trendy as well. Combined, these upgrades can make a significant impact on the look and functionality of your bathroom.
Replacing flooring
What’s on your floor is another indication of how recently you updated the bathroom. The latest bathroom flooring design trend is tile that looks like hardwood in materials that range from porcelain to ceramic. To achieve the calm, spa-like vibe that many buyers favor, choose light grays and other cool tones. The other advantage of these plank-like tiles is that there’s less grout and thinner grout lines to scrub clean.
Installing a new shower
With master bedrooms, it can be worth considering a walk-in shower. Consider 2020 trends like hidden shower drains for a sleek look, and darker hardware like matte black for taps and showerheads.
Full remodel
If you have the budget for it, you can also consider a full remodel. While you may get only a little over 50% back on your ROI, you should also think about the “Joy Score” of a bathroom renovation. The Joy Score is a metric created by the National Association of Realtors in 2017 to determine the level of satisfaction and happiness a homeowner feels over improvements in their home. In 2019, bathroom renovations yielded a Joy Score of 9.6 out of 10. Combine that with the slight increase in home value, then a full bathroom remodel could be a win for all.
If you’re looking to sell your home, you can get the best price by relying on an experienced real estate team with a proven sales history. Soldavi Realty has a unique understanding of the local real estate market in California’s Central Valley – which means we can sell your home quickly for the highest price. Call 209.383.3000 to get started.