A competitive property market means making your property stand out to prospective buyers is the best way to get top dollar when selling your home. It’s common knowledge that bathrooms (and kitchens) can make or break a sale as they provide instant appeal to buyers and can easily override other flaws or doubts a buyer may have.
In actual fact, one of the primary reasons homeowners decide to renovate the bathroom at sale time is for the potential increase in property value. This is because a renovated bathroom makes your property stand out to prospective buyers and can even be a major selling point, particularly if it includes high-quality fixtures, fittings, or luxury features.
Why Renovate The Bathroom?
If you are renovating to add value to your house, knowing where to put your money to give the best return on your investment is the key. While bathrooms are not generally the home’s focal point, they offer a glimpse into the standard of care the owners have applied – effectively setting the tone for the whole property.
Bathrooms act as a good indicator because of their very nature (high usage, naturally damp areas) which means they are prone to showing wear and tear more easily. A renovated bathroom means eliminating damp areas, no more unsightly stains or mould, updated colours, and new fixtures and fittings, all of which instantly create a more modern feel for the entire home.
Another factor to consider is looking at it from the buyer’s perspective, their mindset is likely to be largely driven by the thought of renovating these areas as ‘too much of a hassle’ partially because of the cost but also because they are time consuming tasks that significantly disrupt the daily use of the home. The fact is people will pay more for a finished product. This is precisely why a well-planned bathroom renovation can add value to your home!
Planning A Reno That Adds Value
Planning is the key to achieving a successful bathroom reno, and a big part of that success is setting a reasonable renovation budget. Overcapitalising on your renovations will mean little or no return on your investment, but you must also ensure the renovations will achieve the desired outcome.
When it comes to renovating, the level of investment primarily depends on your intentions. Do you plan to live in the house permanently? Just for a little while longer? Or are you simply renovating to sell?
When planning to stay on for a while after the renovation, you can usually budget for a slightly higher renovation cost, as naturally rising house values will likely absorb the cost over time. However, if you plan to sell in the near future, then you should be mindful of spending too much and overcapitalising (you need to build equity rather than erode it).
For example, with the bathroom there is generally always scope to refresh and update without redoing the entire room. This might be as simple as replacing the vanity, shower or toilet or updating light switches and towel rails. Working within an existing bathroom footprint is the key concept for the budget conscious as this approach will be drastically more cost-effective while still improving the look and feel of the room.
During the planning process, it can be helpful to look into how much your house is currently worth by doing a bit of online research or even getting a registered valuation. This will act as a guide to your decision-making and provide a ballpark figure on how much you should spend on renovations. You can also get advice from local real estate agents who will have an idea of what areas of your home are best to focus on for future sales purposes.
As always, remember to build in contingencies to your bathroom reno planning for both the budget and time allocated. This is especially true with older homes, as you are bound to hit a few unknown plumbing and potential water damage issues. Most bathroom renovation experts would recommend anywhere from 10% to 30% extra for unexpected issues that may become apparent during the standard renovation work.
Best Bathroom Renovation Ideas to Boost Your Home’s Value
If you want to boost your home’s value, the bathroom is a great place to start. Get rid of dated or faulty fixtures and fittings, peeling paint or, unsightly stains and lifted tiles or damaged flooring! A bathroom renovation is one of the best home improvement projects you can tackle, so here are some top tips to consider.
- Even Small Things Count. Even if you can’t manage a full bathroom makeover, fundamental changes such as replacing the toilet or tapware can make a big difference to the feel of the bathroom. For some people, the appeal of the bathroom might matter more than the kitchen!
- Add An En-Suite. Perhaps one of the best ways to capitalise on bathroom renovations is by adding an en-suite or second bathroom as this can offer the biggest return on investment. However, this is an expensive exercise that requires careful planning, and of course the space must be available.
- Don’t Forget Functionality. If you keep functionality and practicality in mind throughout the process you can’t go wrong. The number one problem with many bathrooms is poor useability. For example, a shower door that doesn’t leave enough room to get in or out or a toilet positioned the wrong way. Focus on small details that can ease frustrations, don’t try to cram too much into the space.
- Think Energy Efficiency. LED lighting is a given these days, but also look at incorporating water saving shower heads, heated floors and more efficient ventilation. All of these things offer increased useability and comfort in everyday life while providing a more energy efficient approach to daily bathroom needs.
- Consider The Lighting. Good lighting can instantly change the feel of any space, but even more so in the bathroom where space is limited and can often feel cramped. When it comes to bathroom lighting, incorporating natural lighting is best, but if this isn’t possible, always invest in better lighting around the vanity as this aids in easing the busy morning routine tasks.
- Change The Flooring. Refreshing your flooring can make an instant difference to any room. Switch up the shape, size, design, and/or colour of tiles/vinyl and improve both function and style in the bathroom. Always stick with durable and water resistant materials; safety is important in bathrooms, look for slip-resistant products.
- Upgrade The Toilet. Whether it’s an eco-friendly toilet, different style or colour, having a brand new toilet spruces up the space with relatively little effort and can even help with water conservation! Alternatively, if you are doing a larger renovation, consider a toilet with a hidden wall tank as this is super space-efficient and more modern and contemporary when it comes to today’s bathroom designs.
- Prioritise Ventilation. Preventing mould, mildew, and water damage are the top priorities for any bathroom, no matter what the budget is, and good ventilation is the key to tackling this issue. Consider adding a window where there wasn’t one, or invest in quality mechanical ventilation systems to help draw out humidity and moisture.
- Replace The Fixtures. Upgrading your tapware, towel rails, mirrors, and even door handles, can make a huge difference in modernising the bathroom space while also making it feel larger and less cramped. Consider rounded or statement mirrors, minimalistic or ultra-modern tapware, heated towel rails and more! If there is only one aspect you can afford for your renovation then this is it!
- Keep It Simple. Keeping within the original bathroom footprint and existing plumbing locations can save thousands of dollars when renovating a bathroom. Taking this route will mean you can get a brand new bathroom without the hefty price tag or allocate money in to getting higher quality fixtures and fittings.
- Bath Or Shower? Do people still expect a bath in modern homes? This one will depend on a few variables. If you are selling a family-style home resale value might be influenced by a bath as it offers expected and added functionality. Likewise, a luxury or aesthetically appealing bath can add a touch of elegance becoming a stand out feature or focal point in a bathroom. However, if you are pressed for space adding in a bath might make the space feel cramped, so it’s probably better to focus on creating a good walk-in shower which is generally favoured for townhouse/apartment style living.
- Maximise Storage. Buyers always prioritise storage, especially in newer homes with limited storage space. Proper storage can make even the smallest spaces feel more efficient, think in-built shelving and cabinets or drawers to help declutter countertops.
Need help with your bathroom renovation? The team at AA Bathrooms are the bathroom renovation experts in Christchurch. We know what adds value to your home and can give you some great tips on how to maximise your bathroom space, give us a call today to discuss your bathroom renovation.