The short answer is yes, but it needs to be well thought out and the workmanship needs to be spectacular ensuring a result that prospective buyers will value. Some DIY renovations can actually do the opposite and decrease the value of your property. There are many pitfalls to avoid when renovating your bathroom which experienced renovators will avoid but sometimes DIY enthusiasts will not. A badly renovated bathroom will just mean it’s necessary for a prospective buyer to redo it, which is often off putting and therefore reducing the value of your property.
Bathrooms Affect House Value
Real estate agents will advise you that some of the main factors used in valuing a house are the bathroom and kitchen, for obvious reasons as these are the most used areas of a home. It’s estimated that the average cost of bathroom renovation in Australia circa 2020 is $20,000, but the recovery rate for bathrooms is exceptionally high at around 75%, meaning you’d get that spend back instantly on the value of your home, so your new bathroom would in effect cost only $5000 if you sold (not including equity time).
Renovate Your Bathroom to Sell Quicker
Some people renovate their bathroom for the sole reason of being able to sell their house. Older homes are especially prone to smaller bathrooms. Modern families have higher expectations when buying a new home, meaning that the bathroom can be a deciding factor. Most buyers, (especially families) will not want to renovate the bathroom as soon as they move in.
The true value of a bathroom renovation is to actually use it and gain all its new benefits every day, increasing your quality of life.
Bathroom Renovation Upgrades That Add the Most Value:
- Plumbing and Fixtures – Plumbing work can become the most expensive part of a renovation, installing new pipes and electrical power points etc, require the most work and can also be the most catastrophic failure if you don’t do it right along with the water proofing, that’s why you generally require professionals like Tradepro to complete these jobs. You would more than likely only be doing this if you were adding the fixtures to go with them, for example a new bath, shower, basin or toilet etc.
- Flooring and Tiling – This is the most obvious visual upgrade, if you are tiling floor to ceiling or creating a wet room then this will be a long lasting part of the renovation you will not want to skimp on. Under floor heating, real stone tiling and high quality flooring will all massively affect the visual appeal as well as the cost and therefore the value. But make sure your waterproofing is done properly so you don’t get into trouble!
- Vanity Units and Furniture – These can be some of the simplest parts of your renovation that a DIY renovator may choose to do themselves, of course professionals such as Tradepro are always available to complete this for you! New cabinets as part of your renovation can allow you to increase storage space as well as add to the cosmetic look all increasing the perceived value.
- Energy Efficient Upgrades – More and more buyers are placing emphasis on greener / sustainable homes and bathrooms are no exception when helping the environment. Toilets, showers and basins can all be optimised for water usage and the latest energy efficient fixtures will all make a difference when selling.
