Will a Bathroom Renovation Add Value to Your Home?
The obvious answer is yes, but only if it’s been done correctly. Many DIY renovations can actually do the opposite and devalue your home. Even a small remodel will increase the value and a full bathroom renovation will add more than that. It’s obviously not as simple as any renovation (even by skilled bathroom renovators) will automatically add value, there are some basic design principles that will add more value with no extra cost that you may not have thought of, but a professional reno company will.
Bathrooms Increase House Price
Most real estate agents will tell you the same thing, that one of the main factors in valuing a house or property is the kitchen and bathroom. Indeed, it is what you yourself will look at more than anything when buying or even renting a house. They are the areas that get used the most and are easily the most important to most people. An average bathroom renovation in Australia circa 2020 was around $20,000 but with a high recovery rate of around 75% of that is immediately reflected in your resale value. This means that your $20,000 bathroom was only $5,000.
Renovations Mean a Quicker Sale
It’s quite common to renovate for the sole purpose of selling your property. Many older houses weren’t designed for the amount of appliances or eve the importance of bathrooms in terms of lifestyle so if you have a small badly laid out bathroom in a family home, it probably won’t be so easy to sell it to a family with today’s expectations as when the house was designed and built say 50 years ago. Renovating will almost certainly solve this issue. Manny buyers simply don’t want the hassle of renovating themselves or won’t buy a property because of an under par kitchen or bathroom.
Things That Add the Most Value to a Bathroom
Plumbing - This is always the number one cost to a renovation if you are moving your bath, toilet or shower. Installing new pipes is costly but can be massively beneficial to the layout in terms of utilising space, or it can be an unnecessary cost if you are moving things for the sake of it. Your renovators will be best placed to help you avoid simple mistakes which can increase your budget and devalue the reno itself.
Walls and Floors - Tiling and or specialised flooring are also expensive but they offer the most effect visually and certainly the most “wow” factor when selling. Real stone tiles, under floor heating or a proper wet room will be areas you don’t want to skimp on but these long lasting parts to you bathroom will certainly add a lot of value.
Furniture and vanity Units - This is an easy part of the renovation process. Cabinetry will affect the space a great deal and customised ones even more so, maximising the use of space. A lot of units are free standing and you may want to retain or buy yourself to save money but not deflate the value added of the reno to your house price.