We get this question a lot from homeowners. Another way of asking this is: Will a bathroom remodel return my investment when I sell the home?
This is a good question to ask before you invest a large chunk of money and begin remodeling the master bathroom. It’s not always a clear yes or no answer, either. Let me explain why this is a tough choice to make, sometimes.
Should you remodel your bathroom? You always have to evaluate the renovation project and really see it for the real issue. Is the age of the bathroom fixtures hurting the resale value, or is it the size of the bathroom? You need to determine the real issue to get your answer.
In older homes, many times it is the bathroom size. A lot of times it is difficult to get a larger bathroom when you are remodeling, because this is a fixed space within the walls of the home, with very specific entry points for water and drainage. If you can remodel the bathroom and achieve more square footage (like pulling square footage from a closet) then remodeling may work to be a reasonable choice.
Sometimes, just updating the bathroom with newer fixtures or a different layout may make it appear larger, by moving things in a more efficient way. This may also be costly, as plumbing renovations are typically expensive. You need to weigh out the final cost with the added value, in mind to decide.
In some older homes, there may be an old fiberglass shower that is very outdated, and you could add a custom tile shower to add more appeal. The homeowner could also take out an old bathtub to increase the size of the shower (by combining them), and that helps increase the square footage within a fixed bathroom space. Sometimes, we can move closets around and increase the shower space by moving that closet somewhere else or making it a smaller cabinet.One important thing to consider when adding additional ‘drops,’ such as a sink or stand-alone tub or shower, is the permitting jurisdiction may require you to bring the entire plumbing system up to current code. This is a bonus for the eventual buyer and can help speed up the inspection and closing process, but may not translate into a higher sales price.
Another good point to keep in mind is this: Who is your buyer? A good real estate agent should know the answer to this question, which should help guide your renovation. For example, if your target buyer is a family with young children, a bathtub would serve them better than a walk-in-shower, and it would cost you less, too.
When the space cannot be increased in a bathroom, you may want to switch out old features and make the bathroom look more updated. There are a lot of finishing options when renovating the bathroom, even when fixture replacement isn’t an option. When you call us for the initial walk-through, we can present you with several ideas that you can choose from, along with their associated costs.
When it comes to remodeling the bathroom, there is no clear-cut yes or no answer with remodeling. Each space is different, and we really should look at the home in person to advise you on whether or not it would be a good use of remodeling funds to invest it in the bathroom.
If you would like an opinion on your remodeling project, please give us a call. We are experienced real estate investors and renovators and we would love to help you! Before investing too much money in the wrong project, get a second opinion. Click here to make an appointment for your next home remodeling project.