What is the Return on Investment for a Bath Remodel? A bathroom remodeling is one of those work which can offer a good amount of return on investment, even if the changes being made are minor. For example, you have a small amount of budget to invest in a small amount of time, but the new change will make it worth and you will get the advantage in the end.
Your bathroom remodels return on investment depends on how you are allocating the funds to different areas of the bathroom. There are some places in the bathroom on which if you invest can give you a better response than other places. So the question arises, whether the whole bathroom remodel can benefit you.
Increase in Value of Home after a Bathroom Remodel
The Average Return on a Bathroom Remodel
As no two bathrooms are totally the same, similarly the remodeling will produce a slightly different ROI. A bathroom remodel represents a huge potential for an increase in home value. There are two important areas in any home whose remodeling can increase the worth of the home. The kitchen and bathrooms are those two places.
While additional factors like the type of home, the locality in which the house is present play a role in the ROI of bathroom remodels, the average midscale bathroom remodel can give a seventy percent return on investment.
Usually, strategic planning and budgeting, clarity on current design trends, and other such things play an important role in increasing or decreasing the return on investment.
How to Get the Most Return on Bathroom Remodel?
Convert a Bathtub to a Shower
Converting the old bathtub into a new walk-in shower setup can increase the ROI to a great extent. Most people prefer walk-in showers and if you have elder people in your homes, then a walk-in shower makes it easy for them also to take shower.
Moreover, always remember everything can be sold to someone who needs that thing. Instead of ripping the bathtub off the base, remove it with great and find a potential buyer and sell the bathtub to them. In this way, you will have enough money to even remodel the bathroom and something extra to it.
Fix Anything That Doesn’t Work First
In the remodeling phase, you will have to fix everything that is present in the bathroom and is not working properly. This is the time you fix everything so that if a buyer is coming to see, he is not disappointed to see the functioning or condition of the bathroom.
If the paint is bad, get it redone, if there are molds present, get them removed. If a faucet is leaking, get it fixed, replaced the tiles, and repair anything that you think needs some work.
Do proper repairing and replacing work on the bathroom, so that nothing is left and all gets done in time. For this, you can contact a professional who can do this work perfectly with the proper tools.
Stick to the Budget
We know when the remodeling work is going on, people get carried away, and then they have to take loans or they are out of budget. This is why you must stay on budget and plan everything accordingly.
Get the right rates of everything so that you do not spend the whole amount on one thing. Secondly, you need to split every of your need and then you can decide which of the things need urgent repairing or replacement. This is how you will stick to your planned budget.
If you have questions about what the value of your home is and what a sales cycle my look like if you list your home with a local realtor, call Mississippi Landsource today at 601-966-4881
Mississippi Landsource or our long time Mississippi real estate broker partner Doug Rushing Realty will be happy to assist you in any way.