Monday, April 23, 2012

Should I Remodel My Bathrooms Before Selling?

Moving on Monday

This question is often asked by homeowners when they are planning to put their house on the market.  The answer isn't an easy 'yes' or 'no'.   Can it increase the value of the house?  Of course it can.  But there are several factors to consider before diving in.  

First, how much would it cost to remodel the space?  If you are doing simple cosmetic changes, the cost will be much less than if you were tearing out the vanity, tub and toilet.  How old or worn do the cabinets look?  Are the tiles in bad shape?  Or would a good grout cleaning brighten the space? 

If you are simply painting and replacing the countertop, the changes are worth it.  If you have to replace everything, the cost may be more than the return on investment. 
The average ROI on a bathroom remodel is 172%.  So you would probably recoup your money on simple changes.  However, if you go with high-end cabinets and granite countertops to compete with the neighbors, will you get that money back on the sale of the home?  Possibly. 

Buyers like rooms that don't need remodeling.  But if you have to drastically increase the selling price of your house to recoup the costs, it may not be worth it. 

The solution?  Be sensible.  If you want to update the space, look for deals.  There may be tile close-outs on discontinued patterns.  Or visit a Habitat for Humanity Resale store for deals on vanities and cabinets.  Look for paint 'mistakes' at your hardware store to see if there is a color that will work in your home. 

Finally, are you going to do the work yourself, or hire someone?  If you do it yourself, it will be less expensive.  But will you have the time to get it done before listing the property?  Are you experienced enough in laying/grouting tiles?  Even new tiles that are poorly laid will not attract buyers.

So yes, it can be worth your while to remodel, but be smart in your choices.

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