No matter whether you own your house, or you are a landlord, you should be wanting to add value to your houses. Value could be added by simply increasing the asset value, it can be added by allowing you to request more rental if you happen to be landlord, or if you are attempting to sell your home, value may certainly be increased by the additional price you receive if the house is sold.
Will a brand new bathroom increase the value of the house?
There are several areas at home that may be renovated to enhance the value of your home. One of the better areas to renovate would be the bathroom. Additionally it is one of the best return on investments you could create within your own home. The kitchen and the bathroom are two areas that are always checked out by prospective buyers and renters first. Both these areas could make the difference between a yes and no. Of those two areas the kitchen is generally a lot more expensive to renovate. Just look at the items that need replacing in a kitchen – cupboards, fridge, sink, dishwasher, stove and oven, plus a number of other gadgets. On the other hand, a bathroom can generally be renovated and made to look new on a much smaller budget.
Consider what is contained within your bathroom. A toilet, shower and vanity unit. Now compare this to the kitchen. The same applies even if you have two bathrooms. A recently renovated and clean bathroom can make a good impression.
Depending upon the size of the bathroom, the appliances, tiling, as well as work load to be done, a bathroom renovation can cost as little as $6000. (The renovation could also cost upwards of $20k). The advantage of this is that you’re guaranteed to get your money back on the renovation. If you are selling your house the extra interest from buyers and the extra price they are willing to pay will easily cover the cost of renovating your bathroom. If you’re a landlord, some of these renovations may be claimed as a tax break, and will also raise the amount of rent you can charge. This means that whatever your role is, you should eventually get your money back plus more.
Other things to consider
You can add value to many properties by renovating the bathroom, not just houses. If you own or work in an office, have you considered adding a public bathroom or bathroom for per people with disabilities? Not only is this a kind thing to do, it can increase your company’s public image. After all, a company with a modern and practical bathroom is obviously a professional company!
The fixtures you select for your new bathroom may also greatly increase the value of the renovation. There is no point in choosing cheap imported fittings that not only look ugly but will also fall apart quickly. You are best to go with the well-known brands such as Caroma, Dorf, Fowler or Aspire. Whatever your role – owner or landlord, you should choose quality fittings.
One last thing to consider is adding an ensuite to your main bedroom. As small as it is, and ensuite shows luxury and adds a lot of value to the home. It does not need to be large, the ensuite can be as simple as a toilet, shower and sink. Done correctly an ensuite can be worth three times the cost of having it installed.
It is advised to use the assistance of a quantity surveyor if you are considering adding or renovating your bathroom. The surveyor will help you to establish if you are entitled to any tax benefits and can calculate the value added to your house. I would encourage anyone thinking of completing a bathroom renovation to contact your nearest bathroom renovation company and get a quote.
Would you like to get a new bathroom? Try out Melbourne Bath room Renovations for a totally free quotation and excellent service.