It’s common for those who are seeking to sell their home in the next few years to start focusing their remodeling projects on increasing their home value. If that’s you, and you’re planning to remodel your bathroom, it is a wise idea to focus on the parts of the bathroom that will give you the best return on investment. The general idea is this: the most valuable bathroom remodels in the average home are mid-range remodels. This is according to data from Remodeling. It’s therefore wise to complete a mid-range remodel that is in line with the data but also with your neighbourhood and the expectations of your potential buyer. We don’t know your neighborhood, but we can offer you these general strategies.
How Much to Spend
That same remodeling report found that the average homeowner spends $24,606 on their midrange bathroom remodel and gets back $16,413 in home value. That means that they get a 66.7% return on investment. Should you spend the same? It depends on the current condition of your bathroom. We suggest you spend up to this average figure, whatever you need to get the bathroom up to midrange, stylistically up-to-date standards for your area. Returns aren’t guaranteed, but this is a smart strategy.
What to Spend it On
You know what you can afford, so what should you spend it on to make the biggest impact? Identify the parts of your bathroom that are in the worst condition or are the most stylistically out of date. You’ll get the most value from updating these. Most people will end up putting on a new coat of paint, and that’s valuable, particularly because it is low cost. But you should also consider these other elements:
- Flooring: Often, a bathroom’s flooring dates the room. New flooring can bring it up to modern style standards and will add significant value.
- Vanity: The vanity is the center of the room and changing it can change the design of the space, as well as make the room more functional.
- Fixtures: Fixtures are relatively cheap and can have a great return if they make the space look significantly better—which they absolutely can.
- Shower or tub: Keep the tub if you only have one—seniors and those with children need tubs. If there is another tub in the house, consider adding a modern glass shower, these are still very popular.
Avoid High-End Features
Unless you’re in a high-end market, you should try to avoid high-end features. Buyers in your market are often not prepared to spend more for them. Especially those features that are costly or challenging to install. Some include:
- Heated flooring
- Towel warmers
When you have a bit left in your budget, there are a few smaller items that fit into a mid-range remodel that you could consider, including:
- Refinishing cabinets
Always focus your remodeling efforts on things that will matter most to your potential buyer and that meet expectations for your neighborhood.