Increase Home Value With Bathroom Renovations
There's an old saying that kitchens and bathrooms sell homes. So when Denver realtor Mitch Rothman of The Kentwood Company recently showed a million-dollar listing he was surprised to see that the only entrance to the lavish master suite was through a bathroom.
Some things to consider when renovating your bathroom:
1. Go big
No one, and we mean no one, wants a small bathroom. For a simple quick fix, Miami Realtor William Meyersohn of Coldwell Banker Residential Real Estate recommends adding mirrors or large windows to give a small bathroom an airy feel. If you're planning to undergo a major renovation, he suggests stealing square footage from an adjoining room to expand your bathroom space.
Rothman goes even further to say that if you have the budget (and the right plumbing layout) you should consider adding a bathroom -- it can only add value to the resale of your home.
2. Your taste is, well, your taste
Not everyone has the same aesthetic. This means that tailoring your bathroom renovation to your love of navy or pink tile (as some of Meyersohn's past sellers have done) may not be the smartest move. One rule to live by: Mark your taste with removable objects, such as towels, rugs and accessories. When it comes to permanent fixtures try to stay as neutral as possible, giving potential buyers a clean canvas on which to picture their own oasis.
3. Stay consistent
For homes with more than one bathroom, resist the urge to be creative. Stay true to one vision by giving each bathroom the same treatment, whether it be sleek and modern or homey and traditional. When renovations get overly eclectic, "It looks like you ran out of money," says Rothman.
4. Think forward
These days people want simple, fast and eco-friendly. That means nix the giant whirlpool tubs if you're doing a total renovation. It's a waste of space and a trend not likely to gain momentum again anytime soon, according to Meyersohn. But don't eliminate tubs altogether. Most buyers -- especially those with children -- want at least one tub in a home.
5. Don't skimp
You don't have to spend a lot of money remodeling to make a bathroom look expensive. Simple tricks such as swapping out laminate flooring for neutral tile or stone, and replacing Formica with granite or wood, can make a huge difference on a small renovation budget. "These days there are more choices than ever," says Meyersohn, who also advises that renovations be on par with the overall value of the home.
In the end, most agents would suggest that if you can't do a renovation that will appeal to buyers you may just want to skip it altogether -- and simply lower your selling price. The best advice to remember, however, is to think carefully. Just as in Rothman's bathroom entrance or Meyersohn's navy-themed palace, you don't want your renovation to be memorable for the wrong reasons.
Interested in more selling tips? AOL Real Estate has other great guides that might help:
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