As we move into 2018 and approach the Spring months, one of the big activities is to plan what to do to your home in the new year. Your plans could include new landscaping, painting a couple rooms, or even major renovations. If you’ve owned your home for some time or are considering selling it soon you may want to add new life. One of the easiest ways to make a big splash but also consider return on investment (ROI) is to upgrade your bathrooms.
Adding a Bathroom
Older homes, especially here in Albuquerque, lack the number of bathrooms that newer homes offer and homebuyers would prefer. An addition may be for yourself and your family’s enjoyment but if home value is of importance it requires a bit of homework.
Begin by getting a quote from a contractor. Then hire an appraiser to value your home with the addition. Paying money for an appraisal may not be help in the ROI. If that is the case, contact a trusted local real estate agent. The agent, at no charge, can provide you with a market snapshot of your neighborhood to see what comparable homes are going for. With the snapshot and the agent’s expertise you should be able to have a fairly solid idea of the expected market value if you add the bathroom.
Once you know what the market will bring with the addition you have enough information to determine if it will bring a sufficient ROI. With the help of the agent, you can also determine if the addition makes the home more attractive to the market.
Why Remodel Bathrooms?
Bathrooms can be one of the rooms overlooked, but a lot of time just a couple small changes can add a big “Wow!” And if you are considering selling, nice bathrooms with updated cabinetry, fixtures, and lighting can go a long way in wooing potential buyers.
According to Joe Brooks of Keller Williams Real Estate, “Buyers look for the features and benefits in a home that are important to them for the least amount of money. Having an updated bathroom significantly increases your chances of selling and beating out the competition.”
As Joe infers, if your home is on the market it competes with all the other homes for sale in the neighborhood, with similar price points, and similar features. Having better bathrooms than the home down the street might mean your home sells faster and at a better price.
Bathroom remodels can vary widely in pricing from the basic tile and paint to complete reconfigurations. It is important to decide what you want to do to determine costs and budgets. Before any cosmetic considerations you must address the practical items like- is the electrical and plumbing working correctly? Addressing these problems may be expensive up front but will save money and headache down the road.
After addressing the “bones” you can address the fun part of design. If your intentions are to be in the home for a lifetime you can certainly do something that you and your family will forever enjoy. But if you think you may be putting it on the market anytime soon, many experts recommend keeping the design timeless. There may be current design trends that you love, but you must consider the possibility that those styles lose popularity over time. Having elements in the home too wrapped-up in current design trends may hurt the home’s future ability to sell.
- Stick to neutral colors. The potential buyers want to see themselves living there.
- Try to make it cohesive with the design of the rest of the house
- Stick with the same design theme for all the projects in the bathroom remodel. If you choose a contemporary look- the shower, fixtures, cabinets, etc. should all be contemporary.
- Make the room look bigger
- Install brighter light fixtures
- Replace a tub with a glass shower
- Add wall sconces around the mirror
- Improving usability or adding a touch of luxury goes a long way for ROI
- Adding a jacuzi tub or steam shower in the master bath
- Adding a double sink
- Installing a shower seat
- Adding storage
- Installing a special shower
Good luck with your upcoming remodels and renovations. Hopefully we provided a useful guide to help in your bathroom remodel. If you have any questions about remodeling your bathroom do not hesitate to contact us.