This is especially true if an additional bathroom helps relieve congestion at hectic times, or if it provides much-needed convenience for guests—no small considerations.
As an investment, however, a new bathroom should be carefully considered. The cost of a midrange bathroom addition if about $40,000, but the return on that investment averages a modest 51%, according to Remodeling Magazine’s annual Cost vs. Value Report. That value has been steadily declining over the past several years due to rising construction costs and falling home prices.
Nevertheless, national averages may not be a reliable predictor of value in your particular neighborhood. Before committing to a bathroom addition, call in a real estate agent or professional appraiser to evaluate whether an additional bathroom makes sense in your situation. Buyers tend to prefer houses where the number of bathrooms equals the number of bedrooms, according to the National Association of Home Builders (NAHB).
NAHB data also suggests that an additional half bath may increases a home’s total value by about 10%, while an additional full bath increases the value by 20%. However, that doesn’t mean you’ll recoup the full value of your remodeling investment—on average, you’ll spend almost twice what you recoup.
National and regional data from the Cost vs. Value Report:
National average cost, midrange 6x8-ft. bathroom addition:
Job cost: $40,096
Resale value: $20,455
Cost recoup: 51%
National average cost, upscale 10x10-ft. bathroom addition:
Job cost: $76,209
Resale value: $40,061
Cost recoup: 52.6%
Regional info:
New England
Middle Atlantic
South Atlantic
East South Central
West South Central
East North Central
West North Central
Mountain
Pacific
7 Extravagant Home Improvements You Wish You Had
7 Storage Solutions You Didn't Know You Had
Home Maintenance Tasks: When to DIY and When to Hire a Pro
Appliance Maintenance: Clothes Washer & Dryer
Winter Gardening: Plants that Provide Beauty All Year Round
Property Line Disputes: Peaceful Ways to Settle Boundary Issues
10 Tips for Saving Energy in the Kitchen
7 Ways to Be a Better Recycler
Make A Home Emergency Preparedness Kit
Home Security Cameras: Peace of Mind While You’re Away
2011 Energy Tax Credits: What You Need to Know to Collect
Consider a Home Equity Line of Credit


Be The First To Comment