Whether you are someone who flips houses for a living or if you are someone who owns a home but is wondering whether remodeling your bathroom will increase the value of your home, this article will help you out.
Bathroom remodeling for this specific reason is a big decision to make because you will be spending a couple of thousand dollars on this and you have to make sure that it results in an ROI for you.
Will remodeling your bathroom result in more profit for you? In this article, I’ll cover all the factors you need to consider before pulling the trigger on this project.
Pros Of Bathroom Remodeling
Most people make their decision based on a couple of things. When it comes to houses, it’s usually the kitchen bedroom, and bathroom. The condition of these 3 rooms will dictate whether a potential buyer will decide to go with your house or would want to keep looking for a better deal.
So if you are going for a full bathroom remodel, you want to make sure that you get the WOW factor in. the WOW factor is basically something that will leave a good impression in your prospect’s mind. So when they come to check out your house and they see your bathroom, they remember it because no other house that they have seen might have that kind of bathroom.
Now, what kind of remodel would it require to get that WOW factor? That completely depends on the current condition of it.
You might just need to replace some components and you’d get it while others might need to tear down their current bathroom and remodel the whole thing from scratch.
Be the judge of your own bathroom. If you think your bathroom is ugly, then it’s possible that your buyers might try to negotiate with you based on that. Maybe they would even go as far as lowering their pricing so far that it would actually make sense for you to renovate the whole thing than to lose that much on the sale.
When you tell your potential buyers that you have just renovated your bathroom and even other rooms, then they will have less things to negotiate on because everything would look in pristine condition.
What if I’m On a Limited Budget?
Good question. If you’re on a limited budget, you want to focus on things that are important to you and things that would be important to your buyer as well. And only remodel those things. Maybe it’s the toilet or the tub.
Doesn’t matter. It has to look good and the buyer should be happy to see it like that.
But if budget is not an issue, then you can gut your current bathroom and remodel the whole thing. This will give you more flexibility and control over what materials you use. Let’s say you want to replace your tub, you can choose the quality of the new tub based on your budget. It doesn’t have to be a top of the line tub, as long as it is new and looks good, it should be fine.
For some people, knowing that the tub hasn’t been used is a big deal. So if you replace it beforehand that would give them peace of mind.
But you also have to think from a buyer’s perspective. When they are looking at your property, they are looking for things that they will have to spend money on to make it how they want it to be. That adds to the cost of their overall purchase.
But if you have already put in the time and money and renewed your property, that would make the transition easier for the buyers because then they wouldn’t have to renew as many things.
Cons of Remodeling Your Bathroom
You have to consider 2 major cons when remodeling your bathroom –
- What if your contractor does a poor job
- The cost of remodeling
The biggest con is the upfront cost of it. You will have to pay for it upfront. And so you want to make sure that your priorities are in order.
Remodeling your bathroom for yourself is VERY different than remodeling to increase the value of a sale.
When remodeling for a sale you want to make sure that the new bathroom will complement the overall house and not be a perfect bathroom. Sure, you can try to turn it into a perfect bathroom but at the end of the day, you are going to sell it.
So you have to consider the ROI you will be getting from this. If you were remodeling for yourself then you could focus more on getting the perfect bathroom for yourself regardless of how much it costs.
You also have to consider how far you want to go with this remodeling project. Because if you are just replacing the fixtures and a tub, then you might spend a lot less money compared to if you gut the whole bathroom and rebuild it from scratch.
Another thing you have to consider is whether or not you are planning to hire a professional remodeler for this. Even though they will produce much better results for you, it usually costs a lot more money to hire a pro remodeler. While we’re on this subject, if you are planning to hire a professional remodeler, make sure you check out kitchenremodelingfortcollins.org, they are the best bathroom remodelers in the Fort Collins area.
This is the biggest factor that you have to consider. If you are only replacing your tub, toilet and other fixtures then it will take a lot less time than if you were to remodel your entire bathroom. It would also take a lot less time if you hired a professional contractor compared to if you did this yourself.
So you have to consider how much time you are willing to dedicate to this and whether it will be worth the investment at the end.
If you think your time is more valuable, then hire a contractor and get done with it as soon as you can so you can get the selling process going. But if you think the whole thing isn’t worth it and won’t yield as much profit as you want, then skip the bathroom remodel and sell it like it is.
Remember, it all depends on what you want and what your expectations are. As long as you manage that, you will be on the right track no matter what you decide.
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