Bathroom upgrades to increase your property value
A home’s bathroom is an area that gets a lot of attention and scrutiny. Renters and buyers alike want their bathrooms to be equally functional and aesthetically pleasing. This means that periodically upgrading your bathrooms can go a long way in helping you keep your property fresh while improving your property value. In fact, studies have shown that with a standard bathroom remodel, you can expect a return on investment of anywhere from 64.8% to 68.4%. With this in mind, we thought it would be helpful to give you a little insight on what bathroom upgrades you may want to consider. For a reminder on what design trends to avoid, read here.
The small stuff
- Update your fixtures: This is probably the least expensive upgrade, and takes the least amount of effort too! Changing all your fixtures (faucets and shower heads) to make sure they match and work better will make your bathroom look more modern, planned, and thought out. Don’t forget to match them to your vanity and mirror too, a cohesive look is what we’re looking for here, like this.
- Choose efficiency: If you’re going to upgrade your fixtures, make sure you choose energy efficient options while you’re at it. Purchasing a high-efficiency sink faucet and shower head will not only save on costs in the long-term, it’s what renters are demanding more and more of these days. And don’t stop there! Replace light fixtures with LED’s, and if possible, upgrade your toilet for a newer model as they waste far less water.
The medium stuff
- Reface your cabinets: If you haven’t upgraded your bathroom in a while, then chances are the cabinets are looking a little worn, dated, and plain. You can change that! Depending on their state, you might only need to change the hardware to give them a sharper look. Or, for older cabinets, consider sanding and repainting them to give them a more modern feel. The key is to remove the “old-fashioned” look.
- Change your flooring: If the bathroom isn’t too large, replacing the flooring can be a medium investment to make that will grant you huge results! We recommend changing to porcelain or ceramic tiles, as they are easy to clean, are waterproof and durable, and are on the affordable side. Of course, if you want to step it up a notch, you can invest in floor heating for properties in colder climates, though that would definitely change this suggestion into a big investment.
The big stuff
- Level-up your vanities: Changing your vanities to newer models is a great investment. If possible, update every bathroom with a vanity of the same style and color scheme so you have continuity throughout the home. With newer vanities you have more storage options, a more polished finish, and a stylish look.
- Try a walk-in shower: Walk-in showers are becoming more popular, and tubs less so. If you have multiple tubs in your home, consider keeping one bathroom with a tub (you don’t want to get rid of all tubs as that can lower your property value), and change the others to walk-in showers. They are modern, efficient, and can even give you more space to install a rain shower head in addition to the traditional one for a more luxurious offering.
These bathroom improvements can go a long way in helping you increase your property value while making changes everyone can enjoy. The important thing to remember is that while large renovations will increase the value of your home, even small improvements can make a real impact. Are you managing a rental property and looking for assistance? We can help! We’re a full service brokerage that specializes in property management. Give us a call, and let’s see how we can realize all your rental property needs, together.