Whether you’re a property flipper, a landlord, or just a homeowner, one thing is true: remodeling any room – even a bathroom – can take a lot of time and effort. And the thing is, you want to know that your efforts will not be wasted in terms of home value and ROI.
After all, you might be preparing to sell or lease and want to know that the sales price or rent rate is as high as possible.
If you’re on the fence about whether to perform a bathroom remodel, we’ve got you covered. Today we’re going to outline what constitutes a bathroom remodel and if it’s worth the investment in the long run when it comes to home value.
What is a Bathroom Remodel?
When people think of remodeling their homes, they often think big. Like really big. But the truth is, when you’re renovating even an entire house, you don’t always have to start from scratch and change everything in the home. In fact, sometimes it’s the smallest things that make the biggest impact on home value.
When it comes to bathroom remodels, some like to think of them as ongoing projects that will never quite be complete. Sure, you might want to install a new shower, replace the sink and cabinets, or paint the walls a fresh new color next week. But even small changes to the sink faucet, drawer knobs, and lighting fixtures later on can make a potential buyer or renter say “Wow.” And these things can be done over a long period of time – or all at once.
Cost of a Bathroom Remodel and Expected ROI
If you’re not sure about whether a bathroom remodel in your Atlanta home will increase your home’s value, that’s when you know it’s time to do some research.
According to Remodeling Magazine’s 2021 Cost vs. Value Report, these are national averages for various bathroom remodels:
- Bath Remodel (Midrange): the average cost is about $24,424 and you can expect to recoup about 60.1% of the cost.
- Bath Remodel (Universal Design): the average cost is about $38,813 and you can expect to recoup about 57.4% of the cost.
- Bath Remodel (Upscale): the average cost is about $75,692 and you can expect to recoup about 54.8% of the cost.
- Bathroom Addition (Midrange): the average cost is about $103,613 and you can expect to recoup about 52.8% of the cost.
As you can see, there are a lot of ways you can remodel your bathroom. You can choose to go all in and make it an upscale room for your family to enjoy, or simply modernize some outdated things for the next person that’s going to be living there.
In the end, it all depends on your budget. As far as home value is concerned, know that home value involves the entire house, not just the bathroom. You’ll have to consider the condition of the rest of the home when calculating the new home value.
The Bathroom Remodel ‘Joy Factor’
You may have learned about the ‘Joy Factor’ or ‘Joy Score’ while reading a recent article of ours about whether a kitchen remodel boosts home value.
If not, let’s take a closer look.
You might be thinking to yourself, why in the world would I invest a ton of cash into a remodeling project that’s only going to net about 50% of the cost to do the project. Remember, bathroom remodels, no matter the type, average about 55% in terms of recouping money spent.
That said, people spend a lot of their overall life in the bathroom doing various things. So, it makes sense to claim that people look for more than just ROI when completing a remodeling project. In fact, it’s safe to say that the satisfaction your buyers or renters will get out of using the newly remodeled bathroom count for more than just the expected return.
According to the National Association of REALTORS® (NAR), the Joy Score (or happiness factor) of a bathroom renovation is 9.6/10. This means that people stand to benefit in many ways when you remodel the bathroom.
With a bathroom remodel done right, you’ll generate a higher sales price or rent rate thanks to an increasing home value. Best of all buyers/renters will be able to enjoy the luxury bathroom you designed for their use.
Bathroom Remodel Ideas That Can Increase Home Value
No matter if you want to redo your Atlanta property’s entire bathroom from top to bottom, or just make some quick and easy updates, there are tons of great bathroom remodel ideas for increasing home value.
1. Add a Backsplash
Backsplashes come in all sorts of colors, textures, and designs. They make it very easy for people to remodel their bathrooms in style, regardless of their budget. Not to mention, a well thought out backsplash can add a huge wow factor to an otherwise dull room.
Choosing a backsplash for your bathroom is not tough. Look for bold colors, uniquely shaped mosaic patterns, mixed materials, or even natural stone. There is enough variety out there that no matter the style you’re after, there will be a perfect solution.
2. New Plumbing Fixtures
If your home’s bathroom has old plumbing fixtures, it’s going to look dated the minute someone lays eyes on it. Luckily, new fixtures are generally inexpensive and easy to install. They can take your bathroom from old and grungy to new and modern instantly. And when matched correctly with the rest of the bathroom, they can really make a statement.
3. Replace Tile Countertops with Slab
Tiled countertops look outdated and dirty (unless you spent a ton of time and money to have the grout cleaned routinely). If you replace your bathroom’s counters with slab material (e.g., granite, marble, or quartz), you can make it look sleek and cool right away. Plus, cleaning slab countertops over tile is a cinch and would make any buyer or renter excited.
With plenty of color, style, and price options, you can’t go wrong with updating your bathroom’s countertops to increase your home’s value.
4. Vanity Upgrades
If you have a little bit of extra cash on hand and want to splurge on your bathroom remodel in Atlanta, consider upgrading the vanity. This includes not only the faucets but the sink and cabinets too.
There are vanity kits available at the hardwood store that make a complete set that matches seamlessly. Or, you can piece together the items you like and create a custom look. Just remember, this bathroom may not be for your enjoyment. If it is, then customize the vanity however you please. If you plan on flipping or leasing the property, aim for neutral colors that anyone will like.
5. Go Eco-Friendly
Buyers and renters are always going to look at sales prices and rent rates. Yet, to save money, they will also be looking at how environmentally friendly your property is.
Here are some great ideas for making your bathroom more eco-friendly:
- Low flow toilets and showerheads
- Energy-saving light bulbs
- Decrease the water heater temperature
- LED lighting (last up to 20 times longer than incandescent bulbs)
- Aerator for the faucet
- Energy-efficient windows
There are many ways to help the earth, appeal to the eco-friendly buyers and renters interested in your home, and boost your home’s value. After all, people are willing to pay top dollar to take advantage of energy efficiency within the home.
6. Other Bathroom Remodel Ideas
Here are some additional bathroom remodel ideas for Atlanta property owners that are meant to fit budgets of all sizes and add value to your home:
- Add a fresh coat of paint or change the color altogether
- Upgrade the flooring and even add feet warmers
- Install a walk-in shower
- Embed technology (smart thermostat, tv, etc.)
Are you getting ready to flip a property, sell your home, or lease to a tenant and need a fully licensed and insured general contractor to help with your Atlanta bathroom remodel? Then contact us today and see how we can help.
At Property Pro Services, we are your one-stop shop in Atlanta for all your bathroom remodeling needs. Whether you want to gut your bathroom’s cabinets, update the light fixtures, or install new flooring, we’ve got everything we need to get the job done and add value to your home.
Take advantage of our years of experience and trust that your bathroom project will be affordable, timely, and the perfect renovation your property needs to make a lasting impression and boost your home value.