Whether you plan on remaining in your home for years to come, or are considering selling in the near future, there are great reasons for continuing to invest in your property via remodeling. Reason number one: the economy is still in the process of rebounding, which means remodeling continues to make perfect sense practically and financially.
Let’s assume that your home can stand a makeover in several areas, but right you, you have the budget to handle one such project, and you want to tackle the one with the greatest potential return on investment, or ROI.
According to the Wall Street Journal, bathroom remodeling is the top rated home improvement project where ROI is concerned. And when you think about it, it makes perfect sense. For starters, the very nature of the bathroom increases the need for extra maintenance. It’s one of the most trafficked and used spaces in your entire home. But traffic and constant use isn’t the only issue – another major culprit in degrading most bathrooms is moisture! Together, frequent and extended use couple with moisture build-up contribute significantly to the breakdown of the major components over time.
What kind of an ROI can you expect if you’re planning to sell in the near future? While there is no hard and fast answer due to all the variables – including location, market, type and age of your home, etc. – there are some averages that you can use for as rough guideline.
In fact, the average cost to remodel a standard 5’ x 7’ – 8’ bathroom is $9,000 – $11,000. That includes replacing the bathtub with a new acrylic or porcelain-over- steel tub with new standard chrome fixtures. An acrylic or tile tub surround with a shower curtain or sliding doors puts you on the high side of that budget range.
What else can you get for up to your $11,000 investment? Things like:
- 30”-36” vanity with a cultured marble top and standard chrome fixtures
- New mirror and light
- Exhaust fan
- New water saver toilet over a tile floor.
When it comes time to sell, how much of that investment can you expect to recoup? How does 81% to 102% sound?! Not to mention the kind of ROI that can’t be measured in dollars – a greater feeling of luxury and relaxation.
If a total or partial bathroom remodel is on your “to do” list, contact Plumbtastic for expert advice, high quality products, and installation services that are always right on the money.