Home improvement isn’t just great for homeowners to boost the comfort of their homes. A renovation project can also greatly increase the value of the house or apartment, so that should you decide to sell your property, you can potentially turn a much bigger profit.
But some sellers might have a difficult time visualizing how these projects can increase the prices of their homes, especially if the home renovation is concentrated on one area: the bathroom.
How Does a Bathroom Renovation Increase the for Sale Price?
Bathroom renovations are one of the most common renovation projects Australian homeowners employ. The average cost of this sort of project is estimated at around $17,522 According to the Housing Industry Association (HIA), but it generally depends on the number of bathrooms you have, their size, needs, and the types of renovations you want to do.
Bathroom renovations also have one of the best returns on investment, with one US report estimating that homeowners can get as much as 66% of the renovation cost back when you resale your home.
And it’s rather easy to see why a bathroom renovation can add value to your home, especially if you put yourself in the shoes of potential buyers. If they visit the home and see an outdated bathroom with a lot of issues, they don’t see the potential for home improvement – they see the list of chores they have to do.
Some home buyers might not have a problem with that, but you are limiting your choices simply because most potential buyers want to see a fully functional and aesthetically pleasing bathroom.
How Can You Increase the Value of Your Home Through Bathroom Remodelling?
When you decide to sell your property, before you call a real estate agent for help, you should first consider a few remodelling projects.
Even if your home is in good condition, the wear and tear of you just living there can decrease its value significantly. A few smart changes can quickly fix that, and selling your home will give you a lot more funds to work with in the end.
So, if you’re considering a bathroom remodelling to boost the value of your property, here are a few cost-effective ways to do it and get a great return on your investment:
- Upgrade the showerhead – a new showerhead can do a lot to boost the functionality of the bathroom;
- Change fixtures and fittings – they tend to wear out the most, and can be quite noticeable to potential buyers;
- Add new furniture – a vanity or a rack can go a long way to change the appeal of the bathroom and make a good impression with buyers;
- Add some colour – the icing on the cake, don’t be afraid to add a dash of colour to your monochromatic bathroom to really make an impact, either through the tile, furniture, or even just a stylish rug;
- Give it a nice finish – the power of a professional cleaning and finish cannot be understated, so make sure to give your bathroom a good clean before potential buyers come to visit.
Start Your Bathroom Remodelling Project Today
Want a bathroom renovation plan that increases home value? The Nicholas Carpentry experts are at your service! Get in touch online or give us a call on 0419 606 288.