Does Remodeling a Bathroom Increase Home Value?
If you’re considering putting your home on the market, you’re likely weighing the pros and cons of a number of home remodeling projects in order to determine what’s worth it and what’s not. Two of the most popular renovation projects before listing a house are a kitchen upgrade and a bathroom renovation. But is remodeling a bathroom worth it? And what’s the actual value of a bathroom remodel? In this article, we’re diving in to find out.
How Does a Bathroom Remodel Affect ROI?
It’s a difficult question to answer because ROI can vary widely from home to home. There are a number of variables to consider, such as trends in the market in your area and the details of the bathroom remodel itself. But in general, the National Association of the Remodeling Industry (NARI) reports that homeowners who invest in a bathroom renovation recoup about 57% of the costs, on average.
It doesn’t sound like much, but when you compare it to the 52% of costs recouped on average for a kitchen upgrade, remodeling your bathroom makes more sense.
What’s the Value of a Bathroom Renovation?
If you’re concerned about the remaining 43% of costs not typically recouped, consider the other ways that a remodeled bathroom can provide value to you while you still live in your home. According to the same report by NARI, people who renovated their bathrooms enjoy their homes 58% more than they did previously, and they also report a 35% increase in functionality and standard of living. Besides the facts and figures, think about how a long, relaxing soak in a gorgeous new bathtub can relieve your stress and anxiety, or the ways that a walk-in shower can provide easer accessibility and enhance your bathroom’s aesthetics.
Your Bathroom Renovation
Convinced that a bathroom remodel is right for your home? Don’t hesitate to reach out to BathWraps! Find your local dealer to get started on a bathroom renovation.