Remodeling your bathroom is one of the most profitable renovations you can do when it comes to getting your money back from selling. But what most people don’t know is that doing so saves you a lot of money in the long run as well.
Most people who think of renovating their home usually start with the bathroom. After all, it represents a sound investment that can be advantageous for you in multiple ways. Even if you aren’t planning on selling your home, you could still see significant savings. Who doesn’t love keeping more cash in their own pocket?
Saving Money Through Efficiency
The thing is, you don’t have to wait until you sell your home to see a return on investment. Performing a bathroom renovation can actually increase the efficiency of your home as it pertains to energy. With recent changes in kitchen and bathroom designs, there are now several things in newer bathrooms that can save you money on your energy bill. This will be especially true if your home wasn’t built in this decade.
This includes things like dual flush toilets, low-flow shower heads, and energy saving light fixtures. You will save money on your monthly bills while going green, which is also good for the environment. Not only that, but the “sacrifices” you make aren’t even very noticeable. The lower water pressure in those kind of shower heads and toilets don’t make a huge difference, and you will likely get used to them quickly.
Not maintaining your bathroom properly can lead to safety hazards. Things like uneven floors and chipped tiles can cause you to slip and have an accident. Meanwhile, hidden dangers like mold and mildew can also have a very negative impact on your life. These are all things that can be addressed during a renovation while also adding features like slip-resistant flooring or additional handholds in your shower.
Keen-eyed homebuyers will quickly notice these kinds of problems, so be sure to handle those prior to selling your home. Not only that, but you shouldn’t discount the savings of not having to go to the hospital for an injury or mold-related illness. Medical bills can be very costly, so take that extra step in making your bathroom safer.
An option you might not have thought of is increasing the amount of space in your bathroom. This isn’t even talking about knocking down walls or increasing the physical floorspace of the area. There is a lot you can accomplish with well-designed storage and fixtures.
You might have a large vanity that is taking up entirely too much real estate. Well, you can swap that out with a more space-efficient solution. That way, you don’t have to give up your ability to organize while also de-cluttering your bathroom. There are also plenty of other modern design choices like hidden storage areas or custom-fit shelves that can really open up your space.
While you are remodeling, you might as well also make updates for your own comfort and relaxation. Things like heated towel racks or even improved lighting can transform a clinical-feeling bathroom into something far more zen.
Increase the Value of your Home
You might think that a bathroom renovation should only be done if you plan on staying at that place, but that isn’t always the case. If you want to sell the property instead, renovating your bathroom can cause your home value to go up and be more attractive for potential owners or renters. This is something to consider even if you aren’t planning on moving any time soon, as being prepared is always a good thing.
In fact, most realtors agree that the first thing that catch people’s eyes are a freshly renovated kitchen or bathrooms. There’s just something appealing about seeing brand new countertops or even something simple as a fresh coat of paint that is very enticing to buyers. A higher resale value means more cash to move on to the next step of your life.
For some more concrete numbers, experts have calculated that a minor bathroom remodel can equate to as much as a 102% return of investment once you sell the house. In this situation, a minor renovation means changing out the bath tub, sink, toilet, the tiles, and also new paint. All of that is very doable, and will also allow you to update particularly old-looking designs or fashion choices to a more modern aesthetic.
Past that, you could also look into adding additional bathrooms as well. This is especially helpful if you only have one bathroom in your home, which is a pretty big deterrent for home shoppers. Adding a half bathroom or even a larger one somewhere else will make it an easier sale while also raking in more cash.
These are all things you should think about when deciding to renovate. Just be sure to consult with a professional beforehand to see what would be best for you, and what changes need to be made. Armed with the proper knowledge, you can either create the bathroom of your dreams, or convince a potential owner that this is their future home.