Any home improvement project involves an investment in time, hard work, and, of course, money. A bathroom renovation tends to be one of the more pricey remodeling projects, second only to the kitchen. And while some projects are unavoidable, like a roofing job to fix a leak or a new HVAC system when the old one fails, many bathroom remodeling jobs are optional. It’s natural to wonder whether kicking up your bathroom’s style or functionality is worth the investment.
So what’s the impact of a bathroom remodel on a home’s value?
Kitchen renovations are known to give the biggest bang for your buck when it comes to your home’s resale value, but part of that is due to the overall greater cost for the project. Depending on location and other factors, a full kitchen update can sometimes add up to 74% or more of the cost of the project to the value of your home.
Bathrooms are generally not as expensive to renovate, even if you’re re-routing plumbing, changing the footprint, or adding high-end features. Fortunately, bathroom renovations have almost as big an impact as kitchens, percentage-wise, on home value. For an additional bathroom, you could see about 60% of the cost added to the value of your home. If you’re doing a gut remodel, that number could increase to 72.5%.
These percentages vary widely across geographic areas. To see out how a bathroom remodel or addition will impact your home’s value, check out the latest stats on this cost and value report.
Small Changes, Big Impact
Realtors report that even small changes to a bathroom can make a difference in resale value in ways that are not as easy to quantify. Upgrading lighting, making sure the finish on the fixtures matches those of the towel rack, and re-grouting can have a buoyant effect. Switching out a standard tub for a soaking one or installing new cabinetry can also make a difference.
If you’re considering a bathroom remodel, keep in mind that the return in home value isn’t the only perk you should consider. Think about the day-to-day improvement in functionality–and joy. It’s hard to put a price on a daily spa shower whose jets massage you from all sides, or how good it feels to walk on a floor warmed by radiant heat, or wrap yourself in a towel straight off the warming rack.
The impact of that? Priceless.