Will Remodeling My Bathroom Improve My Home Value?
One of the most popular types of remodeling project for American homeowners is the bathroom remodel. There are a number of benefits associated with remodeling your bathroom, not the least of which is the increase in convenience and luxury it provides to your home. But you should also consider the benefits that an upgraded bathroom can provide in terms of your home value.
Let’s take a closer look at the valuable benefits of expert bathroom remodeling in Phoenix, AZ.
Getting good value
It can be a bit intimidating to actually move forward with a bathroom remodel, given the price tag. The average cost to remodel a master bathroom is between $15,000 and $18,000, with the prices being lower for smaller bathrooms. If you’re going to be spending that kind of money, it’s important to make sure that you’re getting a good return on your investment in the form of an increased home value.
One of the reasons why remodeled bathrooms make such a difference in home value is because the quality of kitchens and bathrooms is a big subject of importance for potential home buyers. Home buyers tend to look at kitchens and bathrooms first and foremost, because a kitchen or bathroom that is not “up to snuff” will require a significant financial investment to improve. While some homeowners might feel up to the challenge, others might not want to sink that kind of money into a project. This means if the project is already done, there is a much larger pool of buyers who will be interested in purchasing the home, even with an increased price tag.
Of course, you might not be considering selling your home anytime soon. That doesn’t mean there isn’t any benefit to improving your home value—as your home value increases, so does your net worth, which can be particularly beneficial for estate planning purposes.
The biggest benefit for people staying in their home is that if you’re going to be using your bathroom every single day for the duration of your time in the home, you may as well make it a comfortable experience. Why step into a cramped, outdated, gloomy bathroom when you can walk in and feel refreshed every morning, and give yourself some of the features you’ve always wanted out of your master bathroom? The bathroom is likely to be the room in your home that gets the most usage, so even beyond the financial value it adds to your home, it adds a lot of value from a practical standpoint as well to create a space you enjoy using.
So how much can you expect to improve the value of your home with a bathroom remodel? Most experts say you can recoup anywhere from 50 to 65 percent of the value of your remodel, so long as the project is done smartly. Today’s features, beyond just updated fixtures, plumbing, flooring and countertops, include improved storage, energy-efficient appliances, better lighting and increased ventilation.
For more information about expert bathroom remodeling in Phoenix, AZ, contact Petrus Countertops and Remodeling today.
Categorised in: Kitchen Countertop Cleaning