When it comes to a bathroom renovation, experts typically warn homeowners to conserve their budget as much as possible. This is because when it comes to improving the resale value of a home, there’s only so much wiggle room in terms of the value range of a property. (In other words, spending $50,000 on a bathroom renovation makes little sense if the average home price of your neighborhood is $100,000.) But in California, the strategy may be a little different. We’ll give you a few ideas to capitalize on your renovation.
While most real estate throughout the country sees modest gains over time, this state has experienced a more dynamic roller coaster. There are plenty of neighborhoods in the state that have doubled or even tripled in value. If your neighbor’s house sold for $450,000 and you bought at $200,000, these are signs that splurging on a double sink or Jacuzzi bath may not be the worst idea in the world. Upgrading your home may take some effort, but it’s the best way to attract a higher caliber buyer.
Do Your Homework
Before doing a bathroom renovation, consider the common home buyer in your area. For example, if more retirees are flocking to the neighborhood, you can consider a walk-in tub or installing non-slip floors. If you’re attracting wealthy families, now might be a good time to double-check the price of granite tiles for the shower. More and more people are opting for universal designs, meaning the bathroom can be used by everyone, regardless of age or ability. Talking to a real estate agent can be a great way to understand more about who’s buying.
Make Energy a Priority
Everyone wants to save money on their utility bills. Low-flow toilets, LED lighting, and resealed windows can all go a long way to decreasing the energy used in a bathroom. These selling points can even be used to convey a little luxury. For example, installing dimmable lights to showcase how relaxing the bathroom can be.
Dialing It Back
If you want to conserve your budget on a bathroom renovation, there are still plenty of low-effort, high-impact changes you can make. Repainting the walls or cabinets can breathe new life into a bathroom, as can replacing the fixtures (e.g., shower head, drawer handles, etc.).
As you’re designing your bathroom, it’s also important to keep in mind the styles and designs that you prefer. While you should be thinking of the future buyer too, you’ll still be using your bathroom in the meantime.