Many Canadian homeowners are planning a bathroom renovation to make a home more attractive before selling their home. However, not all sellers may see a high ROI. The average bathroom remodeling project can cost a homeowner anywhere from $10,500 to $25,000. While some projects may be attractive, owners may not see a significant return due to their cost. Get a better return on a few affordable bathroom renovation projects or when the market supports the cost of a more expensive bathroom remodeling project.
Affordable Bathroom Renovation Projects
Homeowners may see the best return on relatively inexpensive bathroom renovation projects. Many of these upgrades may not require the help of a contractor, cutting out labour costs and keeping a project well under budget.
Bathroom Wall Treatments
As with other spaces, a fresh coat of paint can brighten up a space. Paint is an inexpensive upgrade that can add color and help unify a space with other elements. Add drama in a smaller bathroom with accents or a tile backsplash.
Complementary hardware and fixtures are a great way to make a bathroom look more modern. Ensure that the finish on any fixture or hardware remains consistent throughout the bathroom.
When existing cabinetry still has years of life left, it may only need a facelift. It is possible to sand down and refinish wooden cabinets or repaint current bathroom cabinets. Swapping out tired handles, hinges and hardware for a more modern take can help bring the look together.
These are only a few simple upgrades that can be performed. A thorough assessment of a bathroom may reveal the need for more storage space or additional lighting. Making improvements in such areas may not only help when it comes time to sell a home, but make a bathroom more functional and enjoyable in the meantime.
High-end Renovation Choices
Depending on the market, a few choice updates may be worthwhile. It may not be worth the spend when it comes to ROI if a trend does not generate a good price-per-square-foot value. That being said, bathroom renovations have been known to yield returns ranging from 75 to 100 per cent. Some markets support the expense of updating a bathroom to a more modern design with chic finishes. It can be useful to speak with a trusted local agent to learn about what buyers want to see in a listed home. A few more luxurious options include:
- Double sinks in the master bathroom. The convenience of double sinks are often appealing for potential buyers.
- Brushed metal fixtures and faucets. When it comes to resale value, matched bathroom fixtures in finishes such as silver, pewter, copper and bronze have done well.
- Sliding glass doors. Create a clean and more minimalist appearance with this upgrade.
- Heated flooring. Radiant flooring can add a WOW factor and be useful in areas prone to long spells of cold weather.
In many cases, it is not necessary to do a major overhaul on the bathroom. A few smart cosmetic changes can make a bathroom and a Timberlea new home more visually attractive.
Grab a Buyer's Interest
Attractive upgrades done in a classic style with quality materials and workmanship often help increase buyer confidence. It often does not pay to incorporate the latest trend and expect a high return if homeowners are not planning to sell a home soon. Bathroom updates may seem less appealing when a long period elapses before listing a property. Some may also choose to upgrade other rooms of a home to have a consistent look throughout a home.