After kitchens, bathrooms are one of the best rooms in the house to renovate if you’re looking to sell. Even if you’re not planning to list sell away, it’s still a good idea to consider resale when planning a bathroom reno if you think you might want to list your home in the next few years. To help make the most of your time and money here are some ways to get the best ROI from a bathroom renovation!
Ways to Get the Best ROI From a Bathroom Renovation
The market is really hot right now, so if you’ve been thinking about selling your home it’s a good time. Especially if you’re downsizing or moving to a less expensive community. By planning renovations strategically with high ROI options you can help maximize the profits on your home’s sale.
Most of these bathroom renovation ideas are also “wow” factors, so even if you don’t plan on selling your home they’re still great ideas!
How Long is a Bathroom Renovation Current For?
This is a difficult question to answer. In terms of the fixtures, many can last 15 years or longer! How many times have you seen a completely outdated 1970s bathroom that’s still fully functional? By choosing high bathroom fixtures and doing finishing work (like tile and caulking) properly your bathroom should last a long time.
When it comes to design, though, these change anywhere from 4 to 7 years. Especially if you’re doing something really trendy. Of course, if you keep the big ticket items like the tub and tile timeless you might be able to get away with just updating paint and accessories to keep it current.
Do You Always Make Your Money Back?
The amount of return you get on your renovation depends on where you spend the money, the current market, how dated the bathroom was prior to renovation, and what the rest of the house looks like. For example, a dingy bathroom in an otherwise luxurious house can bring down the entire home’s value. Likewise, overspending on a bathroom that’s already current may not be the best place to spend your money.
If you’re only loosely thinking about resale, though, you should also consider the lifestyle benefits of a bathroom renovation. ROI is less important when you get to enjoy the space yourself!
Bathroom Renovation Ideas that Get the Biggest ROI
Fixing Obvious Problems
This should go without saying, but if you have some glaringly obvious problems with your bathroom this can be a deal breaker when you go to sell. Even if you’re planning to keep your home, these are also going to make your bathroom feel more functional.
If this involves repairs or plumbing, consider hiring a professional contractor to help.
Cosmetic Upgrades
Paint is by far the cheapest and easiest upgrade to any room. Make sure you patch the walls first and choose a colour that fits with current trends. Adding fresh accessories and artwork is another way to help maximize your budget.
Updating the calking or grout, especially if it’s an undesirable colour, can also have a huge impact.
Finally, upgrades to the accessories like towel racks, toilet paper rolls, and bathroom mirror can have a big impact for very little cost and effort.
Tile and Flooring
If you go too expensive with these they can definitely add up and start to lower ROI, but if the flooring is dated then and update will have a huge impact. Bathrooms are usually small spaces so they’re less expensive than other rooms when it comes to flooring.
Tile is another way to dress up the room without spending a huge amount. Subway tile is usually inexpensive and can have a big impact when used strategically in a bathroom.
Vanity
This is another area where you can go expensive, but don’t have to in order to still have a strong impact. Updating the vanity can completely change the look of the bathroom. Especially if you replace it with double sinks or some other luxury, space permitting.
Storage is another big selling feature in bathrooms, so keep that in mind when choosing a vanity.
Little “Wows”
If you can’t afford to create a luxury bathroom experience, you can bring in luxury features that fit in your budget. Here are some ideas to choose from:
- Heated towel holders
- Under-slab heating on the floor
- Heated bath mats
- High end fixtures (eg. faucets)
- Hand showerhead or other high-end showerhead option
- Adding seating (if there’s space)
- Lighting upgrades
The Worst Bathroom Renovation Mistake You Can Make for ROI
What is the worst thing you can do for your ROI? It’s not overspending on a bathroom renovation, it’s doing a bad job. If your bathroom renovation isn’t professional quality it will seriously hurt the value of the room. Even if you invest in pricey extras!
If you don’t want to tackle a bathroom renovation alone Artisan’s Total Renovation Services can help get it right the first time!
