The bathroom is an essential part of your home, so you want it to be comfortable, functional, and stylish. A bathroom remodel is a great way to update this space – but is it really worth the money?
The answer to this question is yes. According to national data provided by Remodeling magazine, both midrange and upscale bathroom remodels offer a decent return on your investment – but there are also other factors to consider. Let’s take a closer look.
Average Bathroom Remodel ROI
According to Remodeling’s 2022 Cost vs. Value report, the average cost for a midrange bathroom remodel is approximately $27,167. You can expect to recoup around 58.9% of that, adding about $15,990 to your resale value. For an upscale remodel, the average cost is approximately $82,882, with an ROI of around 53.5%, or $44,363.
Bathroom Remodel “Joy Factor”
While you’ll rarely, if ever, get a 100% return on your bathroom remodel, there’s another important factor to consider. The National Association of Realtors® (NAR) issues an annual Remodeling Impact Report that provides a “joy score” for a variety of remodeling projects. Rated on a scale of 1 to 10, this score measures the enjoyment and innate satisfaction a homeowner experiences after completing a project.
In 2022, the average joy score for a bathroom renovation is 9.6. This indicates that very few people regret doing a bathroom renovation and that their updated bathrooms provide a significant level of happiness and satisfaction.
Top Upgrades to Increase Your ROI
The types of upgrades you plan to add can also impact the overall ROI of your project. Here are some of the options that will give you the most bang for your buck.
1. Updated Plumbing Fixtures
Adding new faucets and shower heads can go a long way toward making your bathroom look modern and inviting. When choosing your fixtures, make sure they match the room’s general style and complement your overall bathroom design.
2. New Flooring
If you’re looking for a dramatic upgrade, new flooring is a great idea. This is a fairly inexpensive renovation that can change the entire look and feel of the space. If you really want to make an impression, consider installing heated flooring, which can give you a warm, cozy feel after a bath or shower.
3. Vanity Upgrades
Upgrading the entire vanity, including cabinetry and sinks, will also make a big impact. Just be sure to choose materials that are likely to appeal to future buyers. For example, granite and marble are very popular while laminate or tile are far less desirable.
There are many options for upgrading your tub or shower space. For example, you may consider adding a soaking tub to the master bath or pulling out the tub entirely and installing a large walk-in shower instead. Other popular shower trends include frameless glass showers, steam showers, and shower benches.
Schedule a Bathroom Remodeling Consultation
To learn more about how to maximize the ROI on your bathroom remodel, schedule a consultation with one of our professional designers. We’ll help you optimize your budget and create the bathroom you’ve been dreaming of. Contact us now to get started.