About this time last year, I wrote an article on the Cost vs. Value of Bathroom Remodeling using the latest data from the Cincinnati Ohio area.
Given that many homeowners like to remodel their bathrooms in the fall and winter, now is an appropriate time to revisit this theme. With many people unable to sell their home or afford to upgrade and move, many are choosing to make their current home their dream.
Consequently, it is important to evaluate the return on investment of major renovation and remodel projects. What I found this morning is shocking!
Shocking Data on Bathroom Remodel Investment
Plumbing Fixtures and Excellent Bathroom Upgrade
While bathroom remodels generally add significant value to a home during resale, homeowners must be careful to set appropriate expectations as to the monetary value of such a project. This objective is the aim of the annual Cost vs. Value Report generated by Remodeling Magazine each year.
So that I don’t repeat myself here, read my post from last year, Bathroom Repair or Upgrade vs. Additions and Remodels if you’d like some additional analysis on whether or not a full bathroom remodel or simple “makeover” is right for you.
When armed with that information, take a look at this year’s Cost vs. Value stats and compare them to last year.
For the Midrange Bathroom Remodel, the average job cost was $17,304 with only 55.0% of that cost recovered during resale. That is over 9% less than data from one year ago.
Upscale Bathroom Remodels fair no better, as the average job cost of $55,660 netted a mere 48.9% return during resale, down just under 9% from one year ago.
You can read the full report from Remodeling Magazine at http://www.remodeling.hw.net/2010/costvsvalue/national.aspx .
My Conclusion on Bathroom Remodels
Follow the lead of many of our clients—refresh the bathroom with targeted repairs on tile, drywall and plumbing. Update the vanity, fixtures and lighting while topping it off with a fresh coat of paint.
You’ll save thousands of dollars, avoid being without a bathroom for weeks, and yet have a bathroom you are NOT embarrassed of.
Invite ProMaster to Help with My Bathroom Repair Project
If it is time to update your bathroom with some targeted upgrades and repairs, call ProMaster Home Repair & Handyman of Cincinnati immediately at 513-724-0539, visit us on the web at www.MasterMyList.com and as always, or friend us on Facebook, keyword “ProMaster Craftsmen”.
Call (513) 724-0539
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