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Add Value To Your Home With An Extra Bathroom
The housing market in Australia is very competitive. As a result, most homeowners have adopted the option of bathroom renovations to add value to their houses. Buyers focus on various areas in the home, and the bathroom is one of the most important for them.
Having an extra bathroom is thus a great idea since most buyers pay much attention to the quality and convenience of the bathroom as well as how many bathrooms the house has. Therefore, having a luxurious kitchen and laundry is not all that you need to increase your property value.
If you do not update your bathroom, you stand a chance of losing in the housing market. According to Business Insider, particular renovations in a house can give a return of close to 70%. Buyers always look for the quality of the rooms most used in a home.
The bathroom is used daily and thus becomes one of the priority rooms when one is negotiating for a house purchase. An extra bathroom significantly increases the value of a home, especially when the bathroom is well updated with structural and cosmetic features. Read on to discover more about the value an extra bathroom can add to a home.
What Really Matters?
It is not just about adding an extra bathroom to your house and getting it over with. You need to consider various factors before adding an extra bathroom to attract great property value and, of course, more profit. To start with, it is worth noting that having an additional bathroom in your house that is fully updated can be pretty expensive.
Therefore, you want to make sure you get the best quality for your money to attract a great return. If you are a homeowner considering adding an extra bathroom before selling your house, it will help to make a comparative study between your house and those of other sellers in the market.
For instance, you might want to know what your immediate competitor is offering or likely to offer to a potential buyer so that you try to beat their quality or obtain a higher bargaining power than them. Moreover, it is best that you know who your potential buyers are and what they like or what they would most likely prefer.
Knowing your potential buyer will help you understand what fixtures or equipment you need to have in the extra bathroom in your house. For instance, if your potential buyer has a family consisting of small children, you might want to consider having a walk-in shower for the adults and a bath for the children. Or maybe the family is not so big and will also prefer a standard master bathroom.
Sometimes your potential buyers could be professionals who get up early for work simultaneously. This may mean that they would be inconvenienced if there was only one bathroom in the house. Therefore, having an extra bathroom based on this knowledge would help you have the upper hand when negotiating with these buyers.
How A Bathroom Adds To Home Value
Why would a bathroom add value to your house? What does an extra bathroom bring into your home that would increase the house's total value? If you are not selling your house right away, then you probably intend to make it look appealing for future sales. However, it is not guaranteed that a new bathroom would add significant value to your house.
It is not just about having an extra bathroom. What matters is how updated and unique the design of the bathroom is. You could make your additional bathroom stand out by simply installing some fittings and fixtures. Let us now look at what a new bathroom brings to add value to your house.
Have you heard of an underfloor heating system? This is one of the best ways to add value to your house when adding an extra bathroom. The underfloor heating system is efficient and adds luxury to your home. In most houses, you will find that bathrooms have a traditional heating system that incorporates convection currents used to increase airborne dust particles.
The underfloor heating system ensures an even temperature in the entire room, thus improving comfort in your bathroom. It also gives your bathroom and the house, in general, a modern appearance, cleanliness, and a healthier and warm environment, especially during the cold seasons.
The underfloor heating system is often more affordable. Furthermore, an underfloor heating system has a timer that enables you to set the time when the heating unit would turn on and off automatically.
This is another crucial fixture for a homeowner considering having an extra bathroom in their house. The vanity accounts for most of the storage space in the bathroom. It is what most buyers would be focusing on when inspecting a bathroom. Therefore, having a vanity with just the right mirror in your new bathroom would add value to your house.
Imagine what a wall-hung vanity in your bathroom would do? This would make the cleaning of the bathroom an effortless task and give your bathroom a contemporary style. Remember, you can always customise your vanity to match the design of your bathroom. You do not want to lose a potential buyer simply because the vanity conflicts with the bathroom design.
Real estate experts have stated that a house without a bath hardly makes it out of the market. Therefore, as you plan to add an extra bathroom in your house, it is best to pay attention to the positioning of a bath in the bathroom. Many people who opt for buying new houses are often professionals who may have moved in due to a job transfer.
Due to the exhaustion from work, they would definitely like to stretch in a bath, relax and let the work stress fade away. Such a person would most likely go for a house that has a spacious bathroom with a bath. As mentioned above, most families with small children prefer bathtubs for the children's sake.
Therefore, if your target buyers are families with young children, then having a bathtub would be the right move for you. Similarly, bathtubs would give your bathroom a sense of luxury and a modern appearance.
You can install bathtubs in various designs. However, a free-standing bath is the most attractive design. You will find most of the free-standing bathtubs in a white finish, but there are also black and matte grey.
Upgrading the plumbing in your new bathroom is one way to increase the house's value. One of the essential sections in the plumbing of a bathroom is tapware. For your new bathroom, you could have the basin mixer, a three-piece basin tap, or even the wall-mounted basin mixer.
These are most likely to ensure ample space between the faucet and basin for more comfort. These taps also minimise surface contact, thus improving the hygiene in the bathroom. Bathroom hygiene is one component that would help you attract a potential buyer. No one would want to buy a dirty bathroom or one that appears too difficult to maintain.
To give your tapware an extra touch of luxury, you should consider choosing just the right finish that matches the design in your additional bathroom. The more attractive your bathroom looks, the more value it will add to your house. You may want to consider going for matte black, gunmetal, brushed gold, or brushed brass finish for such purposes.
What Value Does An Extra Bathroom Add?
In Australia, there are various places where an extra bathroom would fetch close to a six-figure amount of money for the homeowners. For instance, in areas such as Moonee Valley, Peninsula, Bayside, etc., two bathrooms in a family house increased the home's value by over $160,000.
In other places such as Port Philip, an extra bathroom increased the value of a three-bedroomed house by more than $250,000. Similarly, a two-bedroomed house with an additional bathroom costs over $180,000 more than the two-bedroomed houses with only one bathroom in Hobson Bay.
Research has revealed that most potential buyers prefer purchasing a house with extra bathrooms than houses without, which leaves them with the option of renovating themselves. Such a demand for homes with additional bathrooms directly affects the value of the homes, with higher chances of the prices going up for such houses.
Further, investors who are looking for houses to lease for rentals have also realised the importance of extra bathrooms and have been targeting such homes. This state of affairs has made an additional bathroom a great value add for almost any house.
Extra Bathrooms Are A Yes!
Bathrooms have formed part of the rooms that many buyers focus on before buying a house. People use these small rooms daily, even multiple times a day. People are also becoming more inclined to beautiful, comfortable bathrooms that serve as relaxation hubs after a long day.
Therefore, their quality and functionality are the primary agents of adding significant value to the home. If you're a homeowner who has to get your house off the market as fast as possible, you should more than likely consider adding an extra bathroom to attract more potential buyers.
And not just any bathroom, but a well-designed and customised bathroom. Contact a professional bathroom renovator to get the job done if you don't know where to start. It is essential to use high-quality professional services because you don't want to end up with a shabby, distasteful extra bathroom. That's just an additional problem.