The National Association of Homebuilders reported that Oct. 2015 showed a record 57 for the remodeling market index, or RMI. This marked the sixth quarter consecutively demonstrating a large amount of activity, and the forecasts continue to look good throughout 2016.
Bathroom renovations are one of the most popular renovation types for homeowners. One reason is that these renovations provide one of the best returns when homes are resold, with midrange upgrades retaining 72.5 percent and upscale upgrades retaining 63.6 percent of the value.
If you are considering a bathroom renovation, you will likely enjoy a great return on the investment you make. It is possible to even make your bathroom pay for the investment you make, allowing you to get your money back entirely, by doing the following things.
Adding to Your Home’s Resale Value
If you are thinking about eventually selling, real estate agents report that buyers tend to look at bathrooms to help them make their decisions. This means that if there is stiff competition in the real estate market, you may want to upgrade your bathroom to make it stand out.
Aesthetics and Functionality
The beauty and taste of a bathroom, or its aesthetics, is a huge issue. Potential buyers are often willing to pay much more for features such as granite or marble countertops and updated fixtures, making them important things for you to consider including. You may also want to consider travertine tiles for your flooring or using delicately beautiful mosaics to accentuate the room and add to its beauty.
If your bathroom is laid out in an awkward manner, you might want to consider changing it. A layout scheme that is efficiently combined with accent lighting can help make the room feel larger and airier. Adding things storage space, double vanities, heated flooring and walk-in showers are all features that buyers also love.
Increasing Energy and Water Efficiency
Buyers tend to pay attention to upgrades that help to reduce the consumption of energy and water. These provide you with your own long-term savings as well while you are still remaining in your home. Doing such things as installing low-flow showerheads and faucets can save a family around 17,000 gallons of water annually along with between $60 and $120 on their water and energy bills.
Along with retrofitting your bathroom’s faucets and showerhead, you may also want to install a new water heater that is more efficient. This can help you reduce the heating costs you have for your water by as much as 30 percent for the most energy-efficient models.
Final Bathroom Remodeling Tips
Before you decide on a specific remodeling scheme, make certain you do your research. It is best to go with classic designs, as what buyers think is attractive today can change drastically in time. It is similarly important to know whether your goal is to resell your house or if you instead just want a new bathroom for you and your family to enjoy. Writing down all of your visions and goals and then speaking with a professional designer is a smart approach.
We have a team of designers available at Flemington Granite that can help you plan and transform your bathroom. You can take a look at our bathroom visualizer to get a better idea of how you might turn your bathroom into what you want. Give us a call today or simply fill out our contact form, and we will be happy to help you.