According to the latest National Association of Realtors impact report, updating or remodeling a bathroom is one of the best ways to increase the value of your home and one of the highest cost recovery returns (over 70%) improvements a homeowner can make. So, what are buyers looking for? Buyers want two things: livability and upgraded styles and finishes.
Livability
“Livability” is an odd word for what buyers want; “Purpose” might be a better choice. Buyers want a bathroom with purpose. For example, if they have two or more children, they want a kids’ bathroom with a double sink vanity to make it easier to get ready for school in the morning. In a master bath, they want more luxury and amenities like heated floors, a whirlpool tub, and a spa-like feel. For others, safety is a principal issue because they are getting older or expect elderly parents to move in, so they want grab bars, built-in shower seats, and taller toilets. With that said, consider its livability or purpose as much as anything else when remodeling a bathroom.
Upgrades
The second most important consideration in a bathroom remodel is upgraded features and a contemporary style. No pre-fab shower surrounds or box store vanities – buyers want stylish tile work, higher end showers, and luxury amenities. If your fixtures are worn and have seen better days or if the tile is dated in type or color, a total remodel and upgrade could pay off when it’s time to sell.
What if You’re Not Looking to Sell Anytime Soon?
One of the most interesting statistics in the NAR Report is that even if the homeowner isn’t looking to sell immediately, a remodel has value in terms of what they call “the Joy Factor.” 74% of owners report that they had a greater desire to stay in their homes and 77% felt a feeling of accomplishment.
A bathroom remodeling project can completely transform a builder grade bathroom into a bathroom with a purpose and can add value immediately by raising your “Joy Factor” or later by increasing your home’s value when it’s time to sell. To explore all your luxury bathroom options, contact the bathroom remodelers at LBK Design. Our designers are second to none and they’re ready to provide you with the bathroom of your dreams. Contact us today.
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Tired of your outdated and disorganized home? Schedule a consultation with Nick to discuss your remodeling ideas and how our simple remodeling process can give you a home you love!