Before you dive into major home remodeling projects, such as a bathroom remodel, it’s good to know how it will affect your resale value and if you’re going to get a return on your investment.
When homeowners remodel, it is usually to upgrade worn-out surfaces, finishes, and materials or because it is time for a change, to add features and improve livability.
- The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
- How much appeal each project is likely to have for buyers, according to REALTORS®
- How much REALTORS® estimates that homeowners can recover on the cost of the projects if they sell the home.
- Thirty-five percent of homeowners would rather move than remodel their current home.
- The success of taking on projects, and the increased happiness found in the home once a project is completed.
Thirty-two percent of owners report the single most important result from remodeling is better functionality and livability, 21 percent report durable and long-lasting results, materials, and appliances, and 16 percent report beauty and aesthetics.
Thirty-six percent of the owners did the project themselves, 35 percent hired a professional for all of the job, and 14 percent hired the labor but purchased the materials. Twelve percent contributed some do-it-yourself (DIY) labor.
Appeal to buyers:
- Complete Kitchen Renovation
- Kitchen Upgrade
- HVAC Replacement
- New Wood Flooring
- Bathroom Renovation
- Hardwood Flooring Refinish
- New Master Suite / Owners’ Suite
- Add New Bathroom
- Basement Conversion to Living Area
- Attic Conversion to Living Area
- Insulation Upgrade
- Closet Renovation
I love a project! I’m constantly looking for ways to update my home without breaking the bank and recently decided it was time to tackle a bathroom update. A complete renovation would cost about $25,000 but my budget was only $2,000. Here’s how I spent the money.
Paint is Number One
Paint always gives the highest impact for the least amount of money. Goodbye wallpaper and dark baseboards. I had a painter retexture the walls (I did this when I first moved in, so this was in addition to my $2000 budget) I painted with stain blocker followed by flat finish paint on the walls; oil base semi-gloss on the baseboards. Always use the best paint you can find. I used Sherwin-Williams stain blocker followed by pro-grade flat finish. The vanity cabinets were in excellent condition so I painted with an eggshell finish and new hardware.
Full Bathroom Remodel or not…please Replace the Hardware
Don’t overlook the simple change that can erase decades – with a few hundred dollars you can replace the hardware. And please do it! Towel bars too!
LED’s all the Way
Light fixtures LED with clear globes. Replaced the bathroom exhaust fan/fixture. The main event is the quartz countertop. I wanted a little more height to the vanity so I selected semi-recessed sinks (they’re 3 1/2″ above the surface) and single-lever faucets. I actually prefer the full-view bathroom mirrors instead of the more stylish individual mirrors (although I used one of those on the wall to check myself head to toe). They reflect more light as well as improved visual.
There’s not a doubt in my mind that I will fully recover the cost of this update when it’s time to sell. Meanwhile, I get the pleasure of living in the space.