Is A Bathroom Remodel Worth The Financial Investment?

Several factors go into the cost of a bathroom renovation. These include the scope of the project, the materials you use, what repairs you need to do, and the design elements you choose. But is a bathroom remodel worth the financial investment? The benefits gained from the remodel are a consideration. You might remodel for improved efficiency, aesthetics, functionality, or increased accessibility. It's not always easy to quantify those benefits, but they're still valuable if they're important to you.

Looking at the numbers can help you decide. A mid-range bathroom remodel averages $25,251 nationally, according to the Journal of Light Construction. For that investment, you get a boost in your resale value of $18,613 on average, giving you a 73.7% return on investment. The returns aren't as high on an upscale bathroom remodel, which costs an average of $78,840 and increases the resale value by $35,591 for a ROI of 45.1%. If accessibility is your focus, you'll typically spend $40,750 for a universal design upgrade with a $20,148 return for an average increase of 49.4%.

Numbers alone don't always tell the story about the value you get from remodeling your bathroom. Sometimes a remodel is necessary to make repairs that improve the safety and functionality of the space. If a family member experiences a change in mobility, you might need to find ways to make your home more accessible. Other times, the joy and relaxation you get from having an updated bathroom is value enough to justify the expenses. Looking at the details and evaluating your situation can help you decide if it's time for an upgrade.

If you're looking strictly at the numbers, bathroom remodels often don't give you the largest ROI compared to renovations in other rooms. You typically recoup 96.1% of the cost for a minor mid-range kitchen remodel, for instance. However, some areas have a better ROI for bathroom remodels than the national average. Homeowners on the west coast could recoup 95.6% of their mid-range bathroom remodel costs, while New England homeowners typically see an 84.5% ROI. 

Getting your money back isn't always the prime motivation for remodeling a specific room. There are plenty of reasons to move forward with your bathroom remodel ideas. For example, you may have the money set aside for the renovation and you don't care how much of it you recoup. This may be the case if you aren't planning on selling soon and you want a refreshed bathroom that makes you happy.

A bathroom with an issue that needs to be addressed may also be a good candidate for a renovation. For example, you might remodel a bathroom that needs major repairs or has safety issues because those problems could dissuade home buyers from making an offer. If you're not selling immediately, fixing trouble spots could still be worth it if the repairs make your life easier. For homeowners who plan to sell soon, consider the current housing market to understand what buyers expect. In a seller's market, you might not need to make renovations. However, in a buyer's market when similar homes for sale have updated bathrooms, renovating yours could help you remain competitive.

The ROI for a mid-range bathroom (73.7%) is much better than an upscale remodel (45.1%). If you plan to sell your home soon, choosing mid-range finishes helps you recoup more money. If you aren't selling, mid-range upgrades help cut the cost of your bathroom remodel. Choosing a neutral design makes your home easier to sell. You can add your personality with décor pieces rather than installing boldly patterned tile, a colorful tub, or other fixtures that are difficult to change.

Allocating money to repairs first ensures your bathroom is in good condition and doesn't get worse due to issues such as plumbing leaks. Consider the functionality of the layout, ventilation, the amount of open space, and electrical outlets. Safety issues, such as slippery floors or cluttered spaces, are also good spots to invest your money. Then, you can focus on cosmetic upgrades that make your bathroom look better. Identify the current features that look outdated to prioritize which ones to replace.

Knowing what potential buyers look for in bathrooms can help you decide where to invest your money. Perhaps the most important feature in an en suite bathroom is the shower or tub. Many buyers prefer a walk-in shower in this type of bathroom. However, if you plan to market your home toward families with small kids, having a bathtub in at least one bathroom makes your home more appealing. A new bathroom vanity with easy-to-clean countertops, functional storage, and a stand-out faucet helps your ROI. Replacing outdated bathroom flooring could also make a big impression and earn you more money when you sell.