In general, a bathroom remodel can be a great way to increase the value of your home. Estimates range from 10 to 40%, making it one of the best renovation projects for increasing the attractiveness and value of your home. According to Zillow, an online real estate database, “Zillow data shows that bathroom renovations generate the most benefits in terms of increasing the resale value of a home.” The National Association of Realtors (NAR) reports that satisfaction score for a bathroom renovation is 9.6 out of 10 for both homeowners who hire a professional and those who undertake the project on their own. When planning a bathroom remodeling project, it's important to consider the return on investment (ROI) of the changes you want to make before you start.
If there are no bathrooms on each level of the house, consider installing a sink in the basement or other areas. This could allow you to move a parent or other elderly family member into the house without having to use the family or master bathroom. On average, remodeling a bathroom could increase the value of the home by approximately 66% of what is spent on the renovation. Hiring a licensed and experienced bathroom remodeler is the best way to get the highest ROI.
Certain tasks, such as electrical work, waterproofing, and structural changes, should be left to the professionals. Glenn, an experienced contractor and real estate professional, recommends approaching bathroom remodeling with ROI in mind. You can expect to recover an average of about two-thirds of your investment in a bathroom remodel when you sell your home. Overall, bathroom remodels are one of the best ways to increase your home's value and attractiveness.
With careful planning and consideration for ROI, you can get the most out of your remodel and maximize your return.