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Shocking Data on Bathroom Remodels

Given that many homeowners like to perform a bathroom remodel 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 is shocking!

Shocking Data on Bathroom Remodel Investment

Bathroom Upgrades

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.

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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Comments

  1. Don, I haven't done my annual cost vs value write up yet but I'm wondering if the report included too many high end features that buyers are giving value to … like steam rooms, saunas, soaking tubs & even bathroom entertainment (see http://www.hometips4women.com/latest-bathroom-tre

    • HandymanCincy says

      Tina-
      Could be. Seems like the best idea for remodels these days is to focus on eliminating the eyesore, making sure the fixtures are current and in good repair, and that the buyer need not remodel the bathroom immediately upon occupancy. These seem to be the smarter objectives versus trying to create the ‘wow” factor with extravagant remodels. I don’t know about your market, but we watch so many real estate deals die when the inspector uncovers a leak or other water damage resulting from neglected maintenance or repairs. Even though these repairs are often fast and inexpensive, it sours to the buyer who either moves on to another property or extorts an excessive amount of price reduction from the seller. In this marker, sellers are reluctant to argue, for fear the contract will fall through. Is this what you are seeing in your market?

      So my advice to folks is to simply eliminate the excuses why someone would NOT buy a property, as opposed to wowing them with a high-end kitchen or bath remodel as they might have in years past.

  2. Another thing to consider when planning on putting your house for sale is ensuring that your water lines are in good condition would be a great deal to potential buyers. This will give them an assurance that they will not be having a problem in the future if they have decided to buy your property.

  3. Bathroom is a place in which there has to be a perfect balance between comfort and style.

  4. Hello there! I simply want to offer you a big thumbs up for your excellent info you have here on this post. I’ll be returning to your site for more soon.

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