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How Bathroom & Kitchen Renovation Projects Can Affect the Value of Your Home

10/21/2020

13 Comments

 
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When homeowners engage in renovation projects, they transfer the cost of the upgrade to potential buyers in the form of an increase in the value of the property. Real estate investors and homeowners are always on the lookout for things that can improve or enhance the value of their properties.

They do this for various reasons, says North County Property Group, a property management company in San Diego, such as attract tenants, increase rental income, attract buyers, increase the resale value, or achieve personal satisfaction. No matter the reason behind your intention for a renovation, you should note that not all renovations can affect the value of your home.

Renovation projects can be costly, so it is essential to know the ones that can add value to your property. Some will add more space, boost enjoyment, and improve the ambiance of the property without increasing the resale value.

Renovating versus remodeling

Is renovating and remodeling the same thing? Although these two terms overlap, most people often use them interchangeably.

Renovations only involve the concept of restoring the property into a good condition. At the same time, remodeling is an expensive and extensive process of altering the structure of the property from one form to the other.

How kitchen renovations affect your home's value
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The kitchen is the heart of the home and buyers or renters often make their decisions after inspecting the kitchen. Kitchen renovations are essential. Reasonable kitchen renovations could recoup about 60 - 80% of your investment.

These renovations could be major, minor, or midscale. No matter the extent of the kitchen renovation, your aim should include the following:
  • Create more floor space
  • Enhance the look and feel of the kitchen
  • Improve ventilation within the kitchen
  • Augment the function of the kitchen
  • Repair outdated, faded, and damaged areas

Major kitchen renovations may be expensive, costing around $75,000. It may involve rerouting of plumbing, installation of new plumbing, costly appliances, stone countertops, high-end custom cabinets, semi-custom cabinets, imported ceramics/glass tile backsplash, under cabinet lighting, water filtering faucets, and energy-efficient appliances.

Minor kitchen renovations can range between $11,000 to $21,000. Investors can recoup up to 81% of their expenses here. It involves cabinet repainting and finishing, cabinet re-facing, backsplash replacement, and vinyl floor installation.

Minor and midscale kitchen renovations offer a more massive return on investment. Homeowners who engage in major kitchen renovations do not always recoup a large portion of their investment. However, the benefit is that homes with major kitchen renovations sell faster than others.

How bathroom renovations affect the value of your home​
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According to the National Association of Realtors, bathroom renovations have a joy score of about 9.6 on a scale of 1 - 10. Bathroom renovations are lucrative investments. Just like kitchen renovation, bathroom upgrades could be upscale, midscale, or downscale.

The best bathroom renovations for improving the resale value of a property are midscale and upscale. Homeowners can recoup about 60 - 80% of their investment in bathroom renovation projects.

The essential things to consider in bathroom renovations are enhancing the style and improving the functionality. Bathroom renovations can cost between $6,000 for a minor renovation to $60,000 for major renovations. Midscale bathroom renovations cost an average of about $18,000.
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The best bathroom renovations include:
  • Repainting surfaces
  • Replacing the floors
  • Installing heated floors
  • Upgrading the vanity and sinks
  • Energy-efficient upgrades
  • Bathtub and shower upgrades
  • Installing a walk-in shower
  • Cabinet upgrades
  • Replacing outdated and worn plumbing fixtures with modern ones
Upscale bathroom renovations perform better on the joy score than midscale and minor upgrades. However, midscale bathroom renovations give a higher return on investment than the upscale bathroom renovation.
 
A bathroom or kitchen renovation, which one is better?
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Kitchens are usually more spacious than bathrooms. For this reason, the cost of renovation for a kitchen is more expensive than a bathroom. Bathroom renovations may cost about half of the expenses on kitchen renovations.

The answer to the question of which one is better depends on the local housing market and the property's condition. Both bathroom and kitchen renovations have beneficial impacts on the resale value of a property.
 
Bottom line: How Bathroom & Kitchen Renovation Projects Can Affect the Value of Your Home
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Renovation projects can be costly, so it is essential to know the ones that can add value to your property.

Homeowners are always on the lookout for things that can improve or enhance the value of their properties. Certain bathroom and kitchen renovations can offer this benefit.

Minor and midscale kitchen renovations offer a significant return on investment, but homes with major kitchen renovations sell faster than others.
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Bathroom renovations are also beneficial, but cheaper than kitchen renovations. Midscale bathroom renovations give a higher return on investment than the upscale bathroom renovation.
Whenever you are in doubt of which bathroom or kitchen renovation project you should carry out on your property, don't hesitate to contact reliable experts.

Are you ready to start your kitchen or bathroom remodel? Contact us today. 

13 Comments
Bruce
10/22/2020 07:18:10 am

Very insightful and apt.

Reply
Licensed Bathroom Contractors link
8/30/2021 10:33:08 am

The more stylish the kitchen or bathroom, the more it can attract more buyers.

Reply
Remodelgrandrapids.com link
10/5/2021 04:48:10 am

It's true! Renovation projects can be costly, so it is essential to know the ones that can add value to your property.

Reply
Mia Evans link
11/8/2021 09:35:48 pm

Thanks for pointing out that it is essential to enhance the style and improve the functionality of the bathroom. With that in mind, I have been convinced to have custom renovation services next year. It's to finally make my bathroom look uncluttered because it is quite a small room.

Reply
Cabinet Makers Columbus GA link
12/7/2021 09:30:47 pm

Here’s hoping there’s a a ton more top-notch supplies coming!

Reply
Junk Removal Companies Near Me Staten Island link
12/11/2021 04:50:39 pm

In the kitchen, my plan had been to simply install a new dishwasher. Then it was suggested that a pantry could be added in the then-unused space at the kitchen’s entrance.

Reply
Learn more link
12/27/2021 07:17:16 am

In the kitchen, my plan had been to simply install a new dishwasher. Then it was suggested that a pantry could be added in the then-unused space at the kitchen’s entrance.

Reply
Hailey Miller link
1/7/2022 07:24:45 pm

Thanks for pointing out that a kitchen renovation can enhance the look and feel of the kitchen. My husband and I want to improve our kitchen flooring and cabinets before our parents come to visit in March. With this, we are hoping to find contractors on Monday who can remodel our kitchen and transform it to make it look more spacious and modern.

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Jeff Carbine link
1/12/2022 08:13:34 pm

I'm glad that you said that kitchens are usually more spacious than bathrooms. For this reason, the cost of renovation for a kitchen is more expensive than a bathroom. Since I am so busy with work, I don't have time to process these papers. That is why I decided to see kitchen remodeling services. They will take care of everything for me.

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Millie Hue link
2/2/2022 02:51:21 am

Thanks for pointing out that minor kitchen renovations would cost about $11,000 to $75,000. I will share this information with my husband now that we might want to change the look of that room and also add storage areas. It will definitely help us save what amount we need to prepare before pushing through with this project this year.

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Kristofer Van Wagner link
2/9/2022 10:21:47 pm

I like that this post underlined that one of the benefits of a bathroom and kitchen remodeling is that it offers the opportunity for our property to increase in value. The other day my friend shared that he is planning to have his bathroom renovated to improve the ventilation. I will definitely encourage my friend to proceed with the renovation since it'll improve the value.

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John Carston link
3/21/2022 06:18:21 pm

I found it interesting when you said that restoring is different from renovation because of the status of the property. After moving to our current area, my wife mentioned to me last night about remodeling our kitchen to meet our lifestyle and asked if I have any idea what is the best option to do. Thanks to this informative article, I'll be sure to tell her that consulting kitchen renovation services can help us with all our concerns.

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David Kaminski link
5/13/2022 04:37:11 am

You're right about kitchen & bathroom remodeling projects - they really can affect the bottom line of a house. We recently did the wallpaper in a house where we got friendly with the owner. That client was about to put their house BACK on the market, after getting offers that were too low for their liking. They went through the process of updating their two bathrooms and their kitchen, and it brought a ton of new buyer interest. It really transformed their home and they were able to get over 100k more in the final sale price! The cost of the renovations was only 42,000, so they ended up profiting about 60k just from getting the renovations done. Really speaks to the truth of this article.

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San Diego Construction Company

1516 W. Redwood St, Suite #203 
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Phone: (619) 255-5975
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