Adding value to your home is a good investment whether you routinely flip houses are don’t plan on moving for many decades. Bathroom remodeling is one way to add value and includes upgrading an existing bathroom or adding one on. Here is a look at how these projects add value.
It Depends on the Rest of Your Home
How much a new bathroom impacts your home’s value depends on the state of the rest of your home. Consider if your home is old and has out-of-date appliances and out-of-fashion floors, then a remodeled bathroom is not going to add much to your home.
On the other hand, if your home is in good shape, then a remodeled bathroom can be a great investment. The exact return on investment depends on the housing market in your area and the exact updates you choose, but some homeowners have seen as much as 80% of their investment contribute to the value of their home. When choosing a contractor for this endeavor, make sure the company is up to date on home trends.
Adding Different Kinds of Bathrooms
After a certain point, one more bathroom doesn’t make a lot of difference to the value of your home. That means if you are considering a bathroom addition, then you need to consider the purpose of this room. Three kinds of bathrooms that can add value to your home include a guest half-bath, a master bathroom and a basement bathroom. Each of these serves a very specific purpose and can add value to your home.
There are multiple ways to add value to your home and bathroom remodeling is one of them. Think about other areas of your home before proceeding because there could be another area that would provide a better return on investment. Know that when it comes to bathrooms, function is just as important as style.