How Much Value Does A New Bathroom Add To A Home
Adding a bathroom to your home can cut down on morning traffic as everyone scrambles to get ready for the day. In addition, it could increase the value of your property as well. The amount the new bathroom will add to the home value will depend on factors like the number of bathrooms already in the home and the real estate market in your location. Knowing the amount of value a new bathroom will add can assist you in deciding whether to spend the money an additional bathroom could cost.
A recent report from the National Association of Home Builders states that by adding a new half-bath to an average home, the value would increase by 10½ percent. By adding a full bathroom, the home value would be boosted by 20 percent. This amount is based on homes in which the number of bathrooms and bedrooms are equal prior to the addition of the new bathroom. Transforming a full bath into a half-bath adds roughly 9 percent to the value of the home. These percentages are quite similar across the country and have been like this for a number of years.
Bedrooms and Bathrooms
If there are less bathrooms than bedrooms on your property, adding a new bathroom will boost home value by a bigger percentage. A study conducted by the homebuilders’ association revealed that in a two-bedroom home with only one bathroom, putting in a half bathroom boosted home value by 11.5 percent. In a three-bedroom home, the valued increased by 12 percent and for a four-bedroom home, it increase by 12.5 percent. It is suggested by the study that adding full bathrooms will lead to correspondingly larger increases in home value.
Factors That Influence Home Value
The additional bathrooms are not the sole reason for boosted home value. For example, homes that have more bathrooms are typically bigger and usually have more square footage, which means the homes are more expensive. Additionally, homes with more bathrooms could have other more costly features as well. There are other factors that influence home value. For example, if a plush master suite is added with a marble soaking tub and a steam shower, this could boost home value by more than a modest three-piece bathroom for the children.
Understanding the Value of a Home
Home value is more than just the house itself or the labor and volume of materials used to construct it. The home value is affected by the location, so does the upkeep and any remodeling that occurs over the years. Though some renovations may seem like a smart idea, they may not be ideal as they truly cannot take on the value the renovation projects are worth.
For instance, adding a new bathroom will improve the function of the home and add to its value. However, adding a deck may not be as valuable if there is a small lot that prevents homeowners from enjoying it in private. A knowledgeable contractor can assist you in determining the types of renovations that will be best suited to your situation and will provide the most value.
Adding a new bathroom just before selling may not provide you with enough time to recoup the cost. Experts note that with homes that are sold on the West Coast, homeowners will recoup roughly 67 percent of the price paid for the new bathroom. On the East Coast they will only get back approximately 48 percent. Typically, expect to recoup roughly 50 percent of your investment. If there are fewer bathrooms in your home than similar-sized homes in the vicinity, adding a bathroom could assist you in selling.