If you’re remodeling or adding a new bathroom to boost your property’s value on the market, there are a few ways to make sure you’ll get a higher ROI.
As a rule of thumb, to get the highest bathroom remodel ROI possible you’ll want to look for stylish, timeless upgrades that don’t cost a fortune.
Focus on getting what potential buyers are looking for, and you’ll not only get a higher ROI, but your property will sell faster!
Let’s look at some ways to boost your bathroom addition ROI or your bathroom remodeling project ROI.
Cost Of A Bathroom Remodel
If you’re not sure about whether a bathroom remodel will increase your home’s value, here are some facts based on Remodeling Magazine’s 2021 Cost vs. Value Report.
These are the national averages for various bathroom remodels:
- Midrange Remodel: the average cost is about $24,424 and you can expect to recoup about 60.1% of the cost.
- Bath Remodel (Universal Design): the average cost is about $38,813 and you can expect to recoup about 57.4% of the cost with a standard bathroom remodel.
- Upscale Bathroom Remodel: the average cost is about $75,692 and you can expect to recoup about 54.8% of the cost with an upscale remodel.
- Bathroom Addition (Midrange): the average cost is about $103,613 and you can expect to recoup about 52.8% of the cost.
Upgrading your bathroom doesn’t have to be a costly endeavor. With a little forethought and some smart choices, JN Tiling And Construction can easily boost your ROI and create the bathroom of your dreams.
There are many ways you can renovate your bathroom, from making it an elegant room for your family to modernizing outdated elements.
Keep your budget in mind at all times. Home value accounts for the whole house- not only the bathroom. To attain an accurate estimate of your home’s new worth, take into account the condition of every other room too.
What Should You Upgrade In Your Bathroom?
Adding A Double Vanity
Double vanities are undoubtedly more sought after than simple ones. These give you more storage space, and will fill out the empty space in your bathroom, but most importantly, they’ll set the style and mood of your entire bathroom.
Double vanities do cost more, but they bring a decent ROI and are a really great investment, both for ROI and for improved functionality. You’ll also need double sinks, which are also a great upgrade!
According to KCMA, semi-custom cabinets bring the highest return on investment!
New Flooring
If you want to modernize your bathroom, new flooring is a great and easy way to do it. Not only will it spice up the room, but you’ll also get your investment back fairly quickly.
Luxury vinyl planks are highly efficient flooring materials that also don’t cost a lot. Tile is a more efficient material, but it’s also more expensive, so the return will be lower.
Refinished hardwood floors are also a great option to make your bathroom floor look great at an affordable price.
New Toilet
New toilets are one of the most popular bathroom upgrades for a reason – they save you money! A recent study found that upgrading to a low-flow toilet can save you as much as $100 per year in water costs. That’s money that stays in your pocket!
Plus, low-flow toilets are better for the environment.
Toilets and sinks are bathroom essentials, so you want these to look great. A sleek, new toilet will catch the eye of any potential buyer.
Shower and Tub
Both a shower and tub bring around 70% return on investment, depending on what materials they’re made of.
Tubs and showers can cost as much as $13k, but you can also find them at a more affordable cost, pre-fabricated or not.
For example, here at JN Tiling And Construction, we’ll build you a walk-in shower at the best price you can find. Beautiful tile surround, high-quality craftsmanship, efficient water fixtures, and a shower that’ll last for years are all perks of working with us!
New Backsplash
A new backsplash is a great way to add some character and style to your bathroom. It’s also a relatively easy and affordable way to upgrade your bathroom.
Backsplashes can be made of a variety of materials, but tile is one of the most popular options. It’s durable, looks great, and is highly versatile.
Italian porcelain tile is one of the most popular tiles on the market, and it’s our recommendation as well.
New Plumbing Fixtures
One of the most important aspects of a bathroom is the plumbing fixtures.
If you want to give your bathroom a new look, new plumbing fixtures are a great way to do it. They come in a variety of styles and finishes, so you can find the perfect ones for your bathroom.
Depending on the color scheme of your bath, golden or black water fixtures are some of the most popular upgrades people get, and they look amazing!
You can also save money on your water bills by upgrading to new, more efficient plumbing fixtures. Many newer fixtures have a WaterSense label, which means they meet EPA’s criteria for water efficiency.
Replace Tile Counters With Slabs
One way to save money on your bathroom renovations is to replace tile counters with slabs. Slabs are a more affordable option and they come in a variety of colors and styles.
They’re also a more efficient option, as they don’t require any grouting or sealing. This means that they’re easier to clean and maintain.
If you’re looking for an affordable and easy way to update your bathroom, replacing your tile counters with slabs is a great option.
Modernize The Bath With Gadgets
Some popular gadgets that can be installed in a bath are:
- Rainfall showerheads provide an amazing showering experience and come in a variety of styles. Chromatherapy systems use different colors to create different moods.
- Sound systems can play music or nature sounds to create a relaxing atmosphere.
- Towel warmers are a great way to add some luxury and comfort to your bathroom. They keep your towels warm and cozy, which is especially nice in the winter months.
All of these gadgets can be installed relatively easily and can really transform your bathroom.
Conclusion
Achieving the highest bathroom addition ROI is not so difficult.
As a rule of thumb, focus on getting timeless and stylish upgrades that most people like. Don’t go for something unique and completely different, as many potential buyers may have a different taste than yours.
Focus on expensive upgrades and materials if you’re looking to get your forever bath – the space you won’t ever sell. For increased ROI, get medium-range upgrades that won’t break the bank.
It’s important to note that a bathroom remodel is also about you.
NAR (National Association of REALTORS®) has stated that the Joy Score, or happiness factor, of a bathroom renovation, is 9.6/10. This means people will experience several benefits from renovating their bathroom.
Call us today at (260) 316-4537 to discuss your bathroom addition ROI and how to get the best remodel in Fort Wayne and the surrounding areas! Contact us now for a free quote!