So you want to add more value to your existing home but don’t know where to start?
In general, a bathroom can increase your home’s value anywhere from 10-40% depending on the quality of the bathroom and its updates.
That’s anywhere from $20,000-50,000 for cost-effective updates. So today, we will talk about updates you can make to your bathroom to make it more attractive and help increase its appraisal value.
Types of Bathrooms and Increases
Before you look at adding a bathroom to your home, you should understand the different types and the value of each. In general, the larger the bathroom, the more appraisal value will be added to your home
Adding new or updates to Full Bathroom
A full bath refers to a bathroom that has a sink, a toilet, a bathtub, and a shower. A full bathroom can increase your home’s value by as high as 20% depending on the style and quality of your bathroom. Of course, this percentage can fluctuate between 5-20% depending on the area you live in and the market, but generally, full baths are always in demand and with proper investment, you can look at a $40-50,000 increase to your home’s value at least.
Adding new or updates to a half bathroom
A half bath is a bathroom that has a sink and a toilet but not a shower or bathtub. In general, a half bath can raise your home’s value by around 10% at the highest, depending on the style and quality of your bathroom. This percentage can fluctuate between 5-10% depending on the area you live in and the market, but half baths are seen as valuable additions and worthwhile investments. In many cases, you are likely to recoup at least 60% of the investment placed in your half bath with an estimate of around a $20-25,000 increase to your home’s value.
Common Updates to a Bathroom to Increase the Value
To make your bathroom more valuable, there are some updates you can apply.
Here are the more popular choices:
Updating your flooring can be a great way to add value to your bathroom. Updating your flooring will require you to strip out the existing material and place a more attractive material that looks aesthetically pleasing and is easy to install. In general, you are looking at about a 60% return on your investment or at least a 1-3% home value increase for new flooring material.
Fresh coat of paint
Never overlook the value of a fresh coat of paint. Paint is a great way to add value to your bathroom, with specific colors adding anywhere between $2-5,000 depending on the color and the quality of the paint. In general, people prefer lighter colors, more vibrant colors such as blue. If properly applied, paint can increase your appraisal value by about 1.5%.
Updating your lighting system can provide a great return on your investment. A simple $50-200 lighting investment for ceiling lights, vanity lights, dimmer switches, and scones can provide a 1-3% increase in your home’s value.
An updated vanity or perhaps even just a larger vanity with more storage space can provide a 2-3% increase in your home’s value. This price can sometimes even increase to 5% depending on the quality of the vanity and the material used. The higher quality of material used, the greater the return value on the investment.
Adding a new toilet or updating an existing one can increase the value of your home by .5-1% of your home’s value. In general, it is around 66% of the cost of the toilet itself.
A shower update can increase your home’s value depending on the type of shower installed. In general, walk-in showers and combination bathtubs are very popular, resulting in a higher resale value. In general, a shower can add anywhere between 5-10% to your resale value depending on the quality of the shower and its material.
Storage space is always valuable in a bathroom, and as the case with a vanity, the more space that is available, the greater the value. Linen closets are valuable as are medicine cabinets and any towel racks or additions that can be placed to increase storage. Adding storage to your bathroom can increase your resale value by at least 2% with more than a 100% return on the investment spent for the storage additions.
Heated floors can be a great way to increase your bathroom’s resale value. Their investment starts low at around $265 but the addition can easily provide a $1-2,000 return on the investment if your flooring is of high quality and is attractive to the buyer.
efficient updates-Energy efficient updates are fantastic resale additions as they are easy to maintain, less prone to break down, and can be resold for a higher cost. In general, energy-efficient updates will net anywhere between 100-125% of their initial investment, so there are very few drawbacks to DIY these updates for your bathroom.
Recessed medicine cabinet
A recessed medicine cabinet is always attractive as it utilizes your bathroom’s space and frees up other areas. For the construction involved, this can bring anywhere from 1-3% increase to the value of your bathroom depending on the quality and size of the cabinet.
An easy increase to your home’s resale value as they are very attractive to all buyers. Freestanding bathtubs are incredibly popular as they return 60-80% of their value during resale. This number can increase based on the quality of the bathtub’s material and its size of it.
New countertops can provide a 3-5% increase to your home’s value depending on the material used and the size of the update. If your bathroom is much smaller, however, this update is not recommended as you may not seem that good of a return for the time and money spent.
An updated ventilation system is important for the health of your entire home and bathroom. A simple fan can run anywhere from $50-100, with at least a return of around $400-500 depending on the quality of your bathroom, so consider new ventilation.
New faucets can greatly improve the look and feel of your bathroom. Depending on the material and the construction of your sink, you can add another 1-3% increase to appraisal value. Popular faucet materials include polished brass, nickel, copper, and stainless steel.
There are many options available for updating your bathroom. But before you continue, remember that each of these projects will take time and the market varies drastically. Stick to smaller DIY projects that are reliable as new buyers will always favor what works over what looks nice.