Beginning a remodeling project is always daunting because there are dozens of moving pieces. You’re faced with the reality that people will be in your house to do the construction work, you’ll have to manage the budget, choose every fixture, and all the while you’re concerned that your vision won’t be executed correctly. With all these considerations, you may find yourself asking…are bathroom renovations worth it?
First, you need to decide what would make the remodel ‘worth it’ for you. Would it be increasing your property value? Improving your daily experience and overall quality of life? Could you feel fulfilled in knowing you’re conserving water and using energy efficiently?
In this article, we’re going to help you determine your personal metrics for success! We’re going to evaluate bathroom renovations according to the following different factors: return on investment, impact on your quality of life, and overall environmental impact.
FINANCIAL VALUE
Whether you’re adding a brand-new bathroom or renovating an existing one, both projects will impact your home’s resale value. If you’re remodeling specifically to increase your home’s resale value, it will be beneficial to speak with a realtor and a home inspector before contacting general contractors for project quotes. You’ll save time in the long run because you need to fix structural flaws before focusing on cosmetic changes. This is also an excellent opportunity to ask your realtor for advice on what buyers want to see.
For many potential homebuyers, the state of your bathroom could be a dealbreaker. According to a survey by Consumer Reports, more than 42% of real estate professionals said the bathroom is one of the most important rooms of the home to have in good shape when selling a property.
To estimate the financial value of your remodel, we’re going to look at the return on investment. According to the National Kitchen and Bath Association (NKBA), you’ll get the highest ROI for a mid-range remodeling project. They defined ‘midrange’ as projects costing roughly $20,000k. On average, homeowners received a 70.1 percent return on their investment at the time of sale. By contrast, more expensive remodeling projects (think $60,000k or more) only offered an average return of 56.2 percent.
Adding a brand new bathroom may offer more long-term value than a remodel because it provides new usable space. Furthermore, when people search for homes, they will often filter based on their minimum requirements for bedrooms and bathrooms. By adding a new bathroom, your property is more likely to appear in their search results.
The bigger the dream,
The More Important The Team!
With Regal Construction & Remodeling, it only takes a few minutes to start building your dream home! Give us a call today!
Impact on Quality of Life
Most of us instinctively feel that remodeling our space will make us happy. After all, completing a difficult project is rewarding and gives us a feeling of accomplishment. But exactly how happy can it make us? Would we be happy enough to answer the question ‘Are bathroom renovations worth it?’ with a resounding “Yes!”?
It’s HARD to quantify the joy that you feel after a remodel,
but a major study conducted in 2019 did just that!
The National Association of the Remodeling Industry (NARI) created a metric called the ‘Joy Score’. The Joy Score is a measure of how happy homeowners feel with their renovation. Possible scores range from 1-10, with 10 being the highest and most joyful.
People who had renovated an existing bathroom had an average Joy Score of 9.3 while those who added a new bathroom scored 9.2. Not only did they feel happier, but 70% of participants said that they had a greater desire to spend time in their home since completing the project.
Environmental Impact
If you’re like most people, when you hear the phrase ‘energy-efficient bathroom,’ you probably think of low-flow toilets. The truth is, there are quite a few changes that you can make during your bathroom remodel that will improve your energy efficiency. There are plenty of opportunities to incorporate ‘green’ technology from shower heads to exhaust fans to light fixtures.
Did you know that 50 – 75% of the water used in your house is from your bathroom? By updating your sink, toilet, or shower, you can dramatically reduce your water usage. This decrease in water usage can lead to noticeable savings on your water bill. Energy-efficiency is also a significant selling point for many homebuyers.
Best of all, you can be environmentally friendly without sacrificing comfort! For example, low-flow toilets are just as effective as conventional toilets because they use vacuum technology to match the power of a traditional flush. There are even some shower technologies on the market that will reduce your water use by up to 90% per shower!
The bigger the dream,
The More Important The Team!
With Regal Construction & Remodeling, it only takes a few minutes to start building your dream home! Give us a call today!
FINAL THOUGHTS
So…..are bathroom renovations worth it? At the end of the day, every homeowner will need to make that determination for themselves. When you work with a professional contractor, you can expect a positive return on your investment if you decide to sell your home. In the meantime, you’ll likely experience greater satisfaction while using your remodeled bathroom. You’ll also benefit from lower utility bills if you choose to install energy-efficient bathroom fixtures.
Working with Regal Construction for Bathroom Remodeling
Since 2008, we’ve been helping homeowners with their Los Angeles bathroom remodeling projects. When you contact us for an estimate, we’ll start by discussing your goals. We love to help homeowners find thoughtful and creative solutions to everyday functional problems.
Next, we will schedule a consultation. During your in-home consultation, we’ll assess the available space. At this stage, we’re going to help you ensure the functionality of your planned bathroom renovation.
After we’ve designed your bathroom remodel, we’ll move on to drafting an estimate. Our estimate gives you an expected cost breakdown for materials and labor. Our company was built on a foundation of trust and respect for our customers, so we don’t use any high-pressure sales tactics. We strive for excellence in every project, and customer satisfaction is our top priority.
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