Well hello. As you invest in your home, one of your core concerns is what kind of return you can expect. You’re not looking to toss your money away on a pet project… home improvement is serious.
Did you know fellow homeowners across the country invest upwards of $400 billion a year doing what you plan on doing?
The Return On Investment (ROI) is great, but what’s the math look like?
How much does a bathroom remodel increase home value?
Because we aren’t lucky enough to know you or anything about your particular circumstances yet, the best we can do is turn to generalities; ballpark estimates.
First, let’s go right to the top:
Remodeling Magazine’s ‘Cost vs. Value report states that “a bathroom remodel, if tackled properly, will return 70.6% of the cost put into the project.”
You can probably guess what that means, so let’s quickly look at the four core variables you’re going to need to consider.
Simply stated: If you’re looking to remodel your bathroom with an eye on ROI, then taking the time to SERIOUSLY vet potential contractors is critical. It’s non-negotiable. Don’t just do a single internet search and go with the first smooth-talking contractor that promises you the moon for peanuts.
What are you looking for?
Well, let’s pretend you’ve got four different contractors who are all equally priced and equally matched in terms of skill. What are the REAL differentiators?
The People you’ll be working with and their Process.
Your goal is to work with a group of professionals you mesh well with or at least are seeing eye to eye on design, products, and material choices.
Here at Robbins Construction, we do extensive full-service renovations for Memphis homeowners. And aside from our world-class workmanship, our customers also pick us for our commitment to professional project management and local reputation.
What kind of ROI do our clients enjoy? It’s different from project to project, but frankly, we don’t begin projects until the numbers add up.
How big is your bathroom? And, what all are you looking to get done in there?
Now we’ve got to get REALLY generalized and put your project into a category based on scope. Because of how common bathroom remodeling is, most of the work is done for you. Based on national numbers, here is what the ROI looks like:
The following picture from our Bathroom Gallery is similar in layout to the image at the beginning of the article. But, can you spot all the different material and product choices?
Our point is, there’s a LOT of details that go into a bathroom remodel. Each one is going to play a role in the overall ROI you see immediately and over time. Not just in terms of financially, but how enjoyable and artistic the space becomes.
Which lighting of the two do you prefer?
Which shower enclosure?
Which style of separate toilet room?
How about the different feelings and impressions they inspire?
Notice the similar cabinetry and countertops?
If you’re looking for parts to focus on to make the biggest strides, these three are the cornerstones of every bathroom remodel.
If you happen to live on a street where every single home has a gorgeous, jaw-dropping bathroom, ROI won’t be as dramatic — more stabilized.
Regardless, local and national impacts on your home’s ROI are tremendous. The good news is being able to advertise ‘new updated/remodeled bathrooms’ definitely attracts buyers like ‘new paint job’ or ‘new tires & transmission’ attracts car buyers.
Speak not only to your local contractor of choice but to your real estate agent to see what kinds of bathroom remodels get the most attention and ROI.
Are you ready for your next remodeling project? Let us take it to the next level. Schedule a free consultation today!