92% Return On Bathroom Remodeling
According to the latest research, a bathroom remodel is the best home improvement investment you can make in your home, adding almost dollar for dollar to appraised value. Since most people don’t remodel a bathroom and immediately sell their house, with normal appreciation a $10,000 remodel after just a few years would add around $10,720.00 of value to the home and in 5-7 years – $13,029.00.
Avoid the Trap:
- Don’t wait till you are about to sell your house only to find in a panic you have to remodel your bathrooms just to be able to sell it.
- You will be rushing and may not have the time available it takes to do it right.
- Why live for years with ugly bathrooms only to finally modernize them for a stranger to enjoy and not yourselves.
What realtors say:
When you don’t maintain your home you are not maintaining its value.
“You can’t lose,” says Mary Johnson, realtor and residential specialist, “bathrooms have changed the most in the last century, today, homes that have updated bathrooms sell faster and fetch a higher price.”
Realtors will tell you that bathrooms and kitchens sell houses. Buyers today want houses that are in move-in-condition, homes with ugly bathrooms take a long time to sell and sell for a discounted price.
What does this mean to a homeowner?
- It means you can’t go wrong by remodeling your bathrooms any way you look at it.
- Every dollar you invest into your bathroom has the potential of coming right back to you.
- You get to enjoy your improvements while you live there. Updating protects the invest you made in your home.
- Everything goes up in price, the cheapest time to do something is right now, while you can enjoy it, not 5 years from now at double the cost and for the benefit of a new owner.
*** This year, like last, the report targets the 35 cities listed as top remodeling markets by the Harvard University Joint Center for Housing Studies, which includes New York. Cost data for the Report come from HomeTech Information Systems, a remodeling estimating software company in Bethesda, Md. HomeTech collects current cost information quarterly from thousands of contractors nationwide. The figures include markup and are adjusted to account for pricing variations in different parts of the country. Resale values are based on the professional judgment of members of the National Association of Realtors (NAR). Surveys containing customized cost-to-construct data for each city, as well as information on median house prices, were sent via e-mail to appraisers, sales agents, and brokers, who responded with dollar figures for each remodeling project that represent the value the completed project would add to the selling price of the house under current market conditions.