When you think about remodeling your kitchen or bathroom, what goes through your mind? Do you dream of heated floors and recycled glass countertops? While picturing your kitchen or bath looking like something off of HGTV is a beautiful daydream, this kind of kitchen and bath remodeling may not do as much to increase your home value as you think. What’s the best type of renovation when it comes to ROI?
If you’re planning to sell your home, kitchen or bathroom remodeling can help boost its value. The bathroom and kitchen are the rooms where people spend the most time, they’re the most expensive rooms in the house, and it’s easy to see whether these rooms are well-constructed. By updating the kitchen and bathroom, you can improve your home’s functionality and make it more appealing to buyers. However, before you decide to begin any renovations, make sure your basic systems are in good working order. If your roof needs replacing or your siding is in poor condition, you’re better off fixing these things, because buyers are unlikely to get past them, no matter how good your kitchen looks. Fortunately, these things do have a good ROI. Siding replacement has a return on investment of 92.8 percent, and replacing windows or the roof returns 80 percent or more of its price when it’s time to sell. Think about curb appeal, too. If the exterior of the house doesn’t pull buyers’ attention, they won’t ever see how fabulous you’ve made the inside.
Assuming that everything else is in good working order, though, bathroom and kitchen remodeling does tend to pay off in terms of recouping your costs. The national average ROI for a bathroom remodel is 70 percent, and a minor kitchen remodel can have a 92.9 percent return. The key word there, though, is minor. Overdoing it on your renovation can actually work against you when it’s time to put the house on the market, and you don’t want to increase the value of your home over what the market will bear. Further, the more a bathroom or kitchen renovation costs, the less likely you are to recoup all of that expense. Before investing in an extensive remodel, think about it carefully.
There are times that luxurious touches are appropriate. Extravagant touches like heated floors and steam showers can push a house over the edge with buyers, especially in an area with a lot of new construction. The key to finding the right bathroom or kitchen remodel is a realistic assessment of your home, neighborhood, and unique housing market. If your home is the only house in the neighborhood with only one bathroom, it would be a waste of money to create a luxurious spa environment in that bathroom; you’re better off adding a second bath.
If you’re planning to sell soon, do some research and find out what’s hot in your housing market. Are buyers looking for walk-in showers, or are houses with soaker tubs selling better? What kind of kitchen is popular in your area? If you do not intend to move in the near future, make sure that what you’re doing to renovate your kitchen and bathroom is something that will be useful for your family and that you will enjoy. There’s no point in creating a gourmet kitchen if no one in your house cooks, on the chance that it might increase your selling price at some unknown date in the future. Upgrades that make sense for your family, though, pay off in more than ROI. Because you’ve had the use and value of the space, it won’t feel as urgent to get back every last cent that you spent.
So, what are some kitchen and bath renovations that pay off? Your focus should really be on function. In the bathroom, fix anything that’s not working, and think critically about the layout. Work in some extra storage, repair any loose or broken tile, and resurface the tub if necessary. If you want to update the look of your bathroom, some minor tweaks can make a big difference. Replacing hardware, fixtures, and lighting, for instance, can improve the bathroom’s appeal, and so can putting in a slab countertop.
In the kitchen, think about workable features, rather than what’s trending. Upgrade your appliances, update your flooring, and freshen your paint. Maximize your storage, update your sink, and install a sturdy and beautiful countertop. To improve the kitchen’s appearance, install a beautiful backsplash and some statement lighting.
When you’re looking for bathroom or kitchen remodel contractors in Arizona, trust the team at Re-Bath & Kitchens®. Having served homeowners in the area since 1978 we’ve got the home design expertise needed to provide a wide range of kitchen and bathroom remodeling services. Our service is exceptional, and we deliver innovative, high-performance products in our four showrooms in Maricopa County and Northern Arizona. Visit one of our spacious showrooms, call us at 480-359-1778, or contact us through our website for more information.