Is Bathroom Remodeling a Sound Investment?
Considering remodeling your bathroom but aren’t sure if it’s worth it? Data from Zillow shows that bathroom remodels yield some of the biggest returns when it comes to boosting the home’s resale value. Even smaller, more minor cosmetic changes can increase by almost $2 for every $1 you spend.
The Average Cost of a Bathroom Remodel
The average cost of a bathroom remodel with many bathroom remodeling companies is around $20,000. This is for a midrange bathroom remodeling project. For something more updated and upscale, homeowners can spend upwards of $65,000, depending on what they want done.
The midrange renovations allow the homeowner to recoup around 67% of their remodeling costs, while upscale renovations that are more expensive may only provide around 60% of the cost.
What Bathroom Updates Add the Most Value?
When deciding what to upgrade during a bathroom remodel, consider what can provide you with the best return on your investment. A new jacuzzi or steam shower in the master bathroom, heated flooring, or a double sink are all great updates that add value to your home.
If you are remodeling the bathroom to sell your home, consider neutral colors when you paint. Neutral colors allow potential home buyers to see themselves in the bathroom. You also want to ensure the design of the bathroom is cohesive with the style throughout the rest of the home. You don’t want everything to start looking outdated in just a few years.
Can Bathroom Remodeling Companies Give You A Sound Investment?
Is it a sound investment? To answer this question, you need to think through all your reasons for doing a remodel in the first place. Why are you remodeling? Do you want to update your bathroom to match your style, or does it need plumbing repairs?
Are you remodeling to improve the resale value of the home? If it is the latter, keep in mind that you will only recoup around 60% of the cost, so if you don’t plan on staying in the home, you may want to dial down the remodel so you don’t spend as much.
You also need to consider the size of the bathroom you are remodeling. Are you working on a full bath or a half bath? Are you tearing everything out and starting over or just focusing on a few key aspects?
If you are ready to get started with your bathroom remodel, consult with the professionals at Cardigan Kitchens and Baths. Bathroom remodeling companies can help you design your dream bathroom and help ensure it is a sound investment for the home.