Does Bathroom Renovation Increase Your Home’s Value?

There are several reasons why homeowners want to renovate their houses. One of the prevalent reasons is to increase the value of their homes. A lot of homeowners spend their time and money renovating the living room or the kitchen but pay less attention to the bathroom. But this a huge mistake that homeowners create when they want to make their homes more beautiful.

Does a bathroom renovation increase your home’s value?

Definitely! A bathroom renovation will increase the value of your home and make it a relaxing and enjoyable place to stay. Of course, just like any other investments, you have to make smart decisions and avoid over-budgeting in order to maximize the return of investment or ROI.

Renovation cost vs. home value increase

To determine if the renovation is worth it, homeowners calculate the ROI after certain parts of the house are renovated. An average bathroom can be remodelled with just $6,010 to $15,030 budget can have a return of 67.2% return on the costs.

Of course, these figures change depending on your location as there are a lot of factors that affect the return of investment. But seeing the average cost and ROI for bathroom renovation, one can see clearly that it is a worthy investment.

To determine how likely homeowners will enjoy staying in their homes, realtors have created a method wherein they’re determining the value of their homes based on how much the homeowners enjoy the house after the renovation. New bathrooms have a Joy Score of a perfect 10 and newly renovated bathrooms are at 9.6 Joy Score. This says a lot on just how much a bathroom renovation can improve a house.

Tips and tricks to increase your home’s value

 

1. Study your house

The style of your home is the key to making sure to increase the value of your house. The prevailing style in your home, whether it is classical or modern, needs to be applied to your bathroom as well to create a wonderfully themed house that people will enjoy.

Furthermore, you have to make sure that the focus is not solely on the bathroom. There is no use in spending thousands on renovation the bathroom alone if the other parts of your home are a little outdated.

2. Determine why you need the increase in your home’s value

Are you selling your home as soon as possible or are you selling at a much later time? There might seem like there’s no difference but it actually affects your ROI for your house. If you are selling immediately, you should not spend thousands of your money and instead, just do minor upgrades. But if you will sell at a later time, you should make sure that your bathroom is modern and on-trend so that it will not easily go out of style.

3. Plan and create a budget

If you are on a low budget, you should focus on upgrading the most important things. However, if you will remodel the whole bathroom then you must create a more careful budget and always remember to stick to it.

Ready to renovate?

If you are looking for a reputable builder who can help with your bathroom renovation in Auckland, reach out to Betterbuilding. They will assist you and answer all your questions such as the quote for a renovation and the potential value increase of your home.

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