If you have been house shopping before, you have likely encountered a dated restroom that desperately needs a bathroom renovation. In some extreme cases, it may have even prevented you from buying that home.
HFS Financial knows that a bathroom renovation is one of the best investments you can make for home appeal. It can provide a functional and beautiful space and add significant value to your property.
The Impact of a Bathroom Renovation on Home Value
A bathroom renovation can add significant value to your home. In fact, according to a report by Zillow, homes with renovated bathrooms sold for an average of 1.5% more than similar homes with older bathrooms. This may not sound like a lot, but considering that the median home value in the United States is around $300,000, a 1.5% increase equates to $4,500 in added value.
You don’t have to spend that much to get the value either. Another report from Zillow says that there can be a “$1.71 increase in home value for every $1 you spend” for even minor cosmetic changes. So even if you aren’t looking to gut a bathroom completely, you can get a lot of bang for your buck with a few upgrades.
Specific Features and Materials for a Bathroom Renovation That Increase Home Value
Choosing features and materials most desirable to homebuyers when planning a bathroom renovation is essential. A walk-in shower is a popular feature that can increase the value of your home. This luxurious addition is visually appealing and provides practical benefits such as improved accessibility and ease of use.
Other features that can add value include double sinks, a soaking tub, and a separate toilet room.
In terms of materials, homeowners should consider using high-quality materials that are durable and long-lasting. Porcelain tiles are famous for flooring and walls, and quartz countertops are attractive and resistant to scratches and stains. Add heated flooring or a heated towel rack for a luxurious touch that will excite buyers.
The ROI of a Bathroom Renovation
One of the benefits of a bathroom renovation is the potential for a high ROI. According to Remodeling magazine’s 2021 Cost vs. Value report, remodeling bathroom remodels cost around $27,000, while the average ROI is approximately 60%.
This is a great project to take on to make your money back quickly when selling your home.
Financing Your Dream Bathroom with HFS Financial
If you’re considering a bathroom renovation to increase your home’s value, HFS Financial can help you. We offer various bathroom financing options, and our flexible payment plans and competitive rates make creating the bathroom of your dreams easy.
Use our rate checker today to see if you qualify. From there, our experts will reach out to you to help you complete your loan application. You can receive your personal loan in as little as 24 to 48 hours after everything is complete.
A bathroom renovation is a wise investment that can add significant value to your home. By choosing the right features and materials, you can create a space that is beautiful and functional and adds to your property’s overall value.
Get started with HFS Financial today. “You Dream It. We Finance It.”