“Bathroom renovations are the most popular home update, after the kitchen,” says Vancouver Townhouse realtor, Ariane Benjamin. “Modern homeowners today are looking for beautiful spaces, with a few luxurious touches. However, bathroom renovations vary widely in cost, and if you’re renovating in hopes of selling it’s important to know where to draw the line.”
Renovation Price Ranges
According to a recent survey on Houzz, an online community about interior decoration, architecture, and design, almost 42% of people spend between $10,000 and $25,000 when renovating their master bathroom.
This amount is usually determined by finishes, materials, and labour costs, which can vary from region to region. Of course, plenty of people spend more—and others spend less. On average, the cost of a master bathroom renovation ranges between $5000 and $50,000.
Reasons for Bathroom Renovation
People renovate for a variety of reasons. If you’re renovating for your own enjoyment, there’s no limit to what you should spend. However, if you’re polishing your home with the intention to sell, it’s important to work with a budget in mind.
“Most neighbourhoods have a limit as to what people will pay for housing,” explains Ariane. “It’s important to keep this in mind when undertaking bathroom improvements—or any other kind of renovation. There’s no point in paying $30,000 if you won’t be able to recoup the cost. A knowledgeable realtor can provide the guidance that will help to maximize your property value.”
Most Common Bathrooms Upgrades
According to Houzz, the 10 features people most commonly upgrade in their master bathrooms are (from most to least popular):
- faucets and fixtures
- wall finish
“Some of the most popular features I’m seeing on the market now are rainfall showerheads,” says Ariane. “People are sticking with traditional materials like ceramic and porcelain tile to create contemporary-style bathrooms, which include some fun features like high-tech toilets.”
When you consider the fact that most people spend 30-60 minutes in their bathrooms every day, bathroom renovation is a home improvement that makes good sense—and dollars, too!
Source of the image: http://www.freedigitalphotos.net/