How Much Value Does a Bathroom Add to a House?
Remodeling offers an affordable way to customize your home that can add value to your property down the road. Perhaps spending more time working remotely has put these projects at the top of your to-do list. We’re using living spaces to fulfill more needs, often making it necessary to consider additions, such as a bathroom remodel or installation of another one.
The remodeling market is alive and kicking, fueled by the pandemic. Its total value was $433 billion in 2021, up from $420 billion in 2020. Projects vary by the value they add to your home and how much you’ll recoup. But is it still a worthwhile endeavor?
Cost of an Additional Bathroom
One of the most expensive projects is adding a new bathroom. While you can redo an existing room or repurpose a closet, you’re still starting from scratch with the plumbing and perhaps wiring. Interestingly, increasing their home’s value isn’t the main reason people choose this route. Improving the space’s feel is a more powerful motivator for 78% of Americans.
Adding a bathroom isn’t cheap, especially if you want something upscale. You can expect to pay anywhere between $63,986 to north of $356,945 for a master bedroom addition with all the bells and whistles. Depending on the market, it can add an average of only 5.7% to your home’s resale value.
It’s worth noting that homeowners often take on these projects just to make their dwellings more livable or comfortable. It’s not as much of an investment in the property as it is an improvement in the satisfaction they get from their homes. However, it’s not always necessary to add a bathroom unless the house is underserved. A more affordable option is to look at the existing space’s upgrade potential.
Cost of Remodeling an Existing Bathroom
Unless your house’s plumbing is seriously outdated or inadequate, remodeling an existing bathroom can save you a lot of money. The infrastructure is already in place, so it’s often only a matter of getting new fixtures and lighting. A fresh coat of paint and window treatments can make a world of difference. Perhaps it’s because homeowners want to improve the feel of their space that 26% make it a DIY project.
You can expect to pay about $27,164 for a mid-range upgrade to $175,473 for a master bathroom job. Of course, if you’re just swapping out fixtures and updating the wall covering, you’ll get by with considerably less.
Return on Investment
It’s evident that a bathroom project comes with a hefty cost, no matter what it is. So what can you expect to get in return for your hard work and money? According to the National Association of Realtors, you can expect a 63% cost recovery from adding a new bathroom. A renovation of an existing one will get you a 71% return.
Making the Most of Your Investment
Your return on investment might not make as significant of a difference if you’re doing the project for the comfort of yourself and your family. However, if you’re doing it to increase your home’s value, consider focusing on an upgrade of the main bathroom. It likely gets the most use, so any improvements will make a better impression on prospective homebuyers.
Most people like to have at least one bathtub in their home, even if it is just to bathe the kids or give the dog an occasional bath. If you’re remodeling an existing bathroom, you should think about adding a tub if your house doesn’t have one and you have the space.
We also suggest keeping things neutral. Stick with muted colors that are visually appealing and will work with most interior designs. If your existing tub is a 70s-style sickly yellow color, consider refinishing it in a more pleasing shade.
Finally, keep an eye out for clearance items at home improvement stores. Many retailers will sell old display items for ridiculously low prices. It’s an excellent way to update the look of your bathroom at a fraction of the cost.
The value that adding or renovating a bathroom has lies in what it means for your comfort. It can make a difference in a sale, but you probably won’t get back everything you’ve put into it. Nevertheless, it’s a worthwhile investment of time and money if it can make your home that much more livable and functional.
Featured Image Credit: ARCHITECTURE, Unsplash