How Much Home Value Could You Add By Remodeling Your Bathroom
According to Zillow reports, the typical value of homes in Houston is $272,084. The value will adjust seasonally and will include the middle price tier existing at that time for the homes. It is common to find homeowners looking for ways to increase the value of their homes before resale. One way to achieve this is by updating the bathroom.
This shows the current average home value in Texas.
Studies show that about 26% of sellers will make some form of home adjustments, including improving the bathroom, before reselling. By remodeling a bathroom, you increase your chances of attracting buyers, but sometimes greeting back every dollar invested is not guaranteed.
Data by Zillow shows that bathroom remodels have the biggest returns in terms of increasing home resale value. For example, a minor cosmetic change can lead to a $1.71 increase in value for every dollar spent. Such changes include simple projects like applying new paint, refinishing cabinets, and upgrading the existing hardware.
The Value of a Bathroom Remodel
Generally, the metric experts apply when determining the value added by a renovation project is not a flat dollar amount but a percentage of the upfront costs the owner will likely recoup when they sell the house.
It is common to find minor renovations having a better return on investment than other extensive projects due to the costs involved. Additionally, adding a new bathroom to your home can sometimes make the most sense depending on your personal preference, but the ROI will only be moderate when you sell the house.
In several cases, it may be impossible to match the value added to the initial investment. But there are specific remodels that will do better than others, so it is essential to keep them in mind when making plans.
It is also best to consider how particular upgrades will save money over time, like energy-efficient lighting and low-flow toilets. Remember that returns are never guaranteed and will differ from the national average based on the location and the existing market conditions.
Planning For a Bathroom Project
Before you think of renovating a bathroom, it is best to plan to get the most of your investment without breaking the bank. Here is some way to ensure you succeed in the project:
Plan Your Budgeting and the Scope of the Project
Whether you want to renovate an existing bathroom or add a new one, it is best to know how big the remodeling project is and how much it will cost. Determine the upgrades or extra additions you make to get several estimates from contractors.
Also, consider whether the remodel will need an entire overhaul of your plumbing or electrical systems, which will require additional funding. You can make the right decision by consulting a qualified electrician or plumber to determine the exact costs.
Choose Your Preferred Finishes
When you plan to sell your home in the near future, it is best to select colors that invoke a neutral feeling. But, if you will live in the house for a long time, choose unique colors that best suit your taste and focus on the style and quality you want.
Don’t DIY for Major Remodels
The bathroom is the last place you should consider DIY when remodeling. It involves technical projects like electrical work, plumbing, tiling, and water considerations, leaving no room for error. Anyone who goes down this route may spend excess to fix mistakes, or the project drags out over multiple years.
If you want to DIY your bathroom project, consider getting an estimate from a reliable contractor to get an initial opinion on the project.
Get Effective Bathroom Renovation Ideas from Everhart Construction
At Everhart Construction, we believe the bathroom is one of the most important rooms in the hose as it is mostly used and intimate.
We offer various bathroom renovation services that will turn your current bathroom into a functional soothing retreat that helps you relax and improves your home resale value. Contact us through our online contact form to get a no-obligation bid you’re your next bathroom remodel project.
If you’re not sure exactly how to turn your dream concept into reality, don’t worry. At Everhart Construction, we have the skill and experience needed to take care of all the technical details. To learn more about room additions and home remodeling in Houston, TX, contact our team right away.