Home renovation is an effective way to increase the value of a St. Louis home because it adds convenience and aesthetics, which are among the top considerations for potential buyers. However, if you’re not financially prepared for a total makeover and prefer updating one room at a time, you have to determine which part of the house can yield the best return. Many real estate experts would recommend starting from the bathroom.
Bathroom remodeling in St. Louis not only helps improve the area’s comfort and privacy but also promises to recoup up to 80 percent on your investment costs. Even so, such a project can be downright expensive, especially if you’re thinking of replacing furniture. Your expenses can further increase should you decide to change configuration since it will require repositioning existing plumbing fixtures.
In an article for SFGate.com, contributor Tony Guerra explains further how a bathroom remodel can yield a return:
New bathrooms are added to homes either as replacements or as additions. Either way, a new bathroom can freshen a home’s interior and raise its overall value. New bathrooms, though, are expensive. A mid-range bathroom addition, for example, can run around $40,000. According to RealEstate.com, a new full bathroom adds around 20 percent to a home’s value.
Like many expensive home improvements, new bathrooms don’t return their full costs at home sale time. Typically, the National Association of Realtors says, new bathrooms return about 51 percent of their costs at sale time. What’s recouped can vary by region. In the West, homeowners may recapture about 67 percent of the cost, but in the East only about 47.7 percent.”
To make your investment in your new bathroom pay off, it helps to know your purpose for the project first. Lots of homeowners remodel their bathroom for the sake of increasing the value of the home they are already selling, while others simply want more convenience and aren’t moving anytime soon. Either reason will raise the home’s value, but take note that the latter may yield less ROI by the time the owner decides to sell the home.
Another way to make your investment work is to hire a St. Louis remodeling company like St. Evans Inc. No other kind of professional can make over your bathroom better than an experienced remodeling contractor. While their service may cost higher than DIY, their workmanship can guarantee less costly maintenance and repair in the long-term. Therefore, if you’re planning on having your bathroom remodeled soon, start by consulting with the experts.
(Source: How Much Does a New Bathroom Increase the Value of a House?, SFGate.com)