Remodeling the Bathroom: A return on your investment

Published by: Donna Kshir
Published on: 2010-01-10 15:26:13

Remodeling your bathroom is no different than any other investment you may consider. Return on your investment is hard to figure in a bathroom remodeling project. Although most real estate agents recommend upgrading your kitchen and bathroom, studies have shown there is no guarantee that kitchen and bathroom upgrades will increases the value of your home, in the event you choose to sell, but it will increase the odds of selling!

Research has shown your return investment will be approximately 86%. In plain terms if you spend $10K outright to remodel your kitchen or bathroom, your return investment is about $8,600. Although it is up to the individual to determine if the upgrade is worth the initial investment, considering if or when you decide to sell your home.

There will be times you have no choice but to upgrade your kitchen or bathroom; especially in older homes. It is best to take into consideration other homes in your surrounding area, and consider your asking price, if or when you decide to sell your home. Always take into consideration what you will stand to gain on your return investment if you sell your home. For most average home owners, this is a hard decision to determine.

Take into consideration a bathroom that has not been upgraded in over 25 years. It is likely this bathroom will have several problems with the wiring and plumbing. After further investigation, you may also discover other problems such as the possibility of black mold when installing new plumbing behind walls, or when removing old carpet from your bathroom.

Some remodeling projects are more challenging and difficult than others. You may have to make major adjustments on your home’s existing electrical or plumbing, depending on the location of your home. It is a good idea to call the City Clerk’s office in the town where you live before deciding on any major renovations. The City Clerk’s office may suggest how you can bring your home up to code. If this is the case, your budget is going to have to be re-evaluated for addition costs.

Another consideration to take is who may be interested in buying your home if you decide to sell. Research has shown that people purchase homes that best suit their overall needs. For instance, married couples with children will more than likely want a bathroom with a tub for the convenience of bathing their children, while an elderly couple would rather have a shower instead of a bathtub.

In any case, it is hard to foresee the future or who may buy your home, but always consider the neighborhood you live in for potential buyers; the choice will affect the price of your resale or finding a buyer willing to purchase your home in its existing condition.

For help with your bathroom remodeling project in Connecticut, contact us today for a bathroom remodeler near you!

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