Renovating for resale value

Whether you’re intending to sell your property or planning to stay where you are, it’s smart to consider resale value when renovating.

Story by: Trends

This is particularly true for bathrooms – a sub-standard bathroom can really put people off a property, while a great, functional bathroom could potentially add thousands to your sale price.

Here’s how to make sure your bathroom renovation adds value:

Bathroom basics

A bathroom renovation doesn’t have to be complicated or very high-end to appeal to buyers – just stick to simple design and good quality. When you’re choosing colours and fittings, go for neutral tones and solid, high-quality products, rather than unusual choices – those shiny gold taps may not be to everyone’s taste. Don’t go for the least expensive option, as it’s likely to end up looking shabby or having to be replaced quickly.

Check out our Home Catalogue for some beautifully designed, long lasting, and affordable options docs.plumbingworld.co.nz

Ticking the boxes

Every potential buyer has different ideas about what they want, but there are some elements with universal appeal. Most buyers want a bathtub – particularly for family homes – and many prefer a separate shower, rather than a shower over the bath. If your bathroom doesn’t include these things already, see if you can add them during the renovation.

If your home only has one toilet, it’s also a good idea to see if you can squeeze another one in, too.

Spend or save

Upgrading your bathroom is never going to be cheap, but it doesn’t have to cost the earth either. The cost will depend on the size of the room, your fitting choices, whether you need to add or move pipes and taps, and how the room is finished – for example, tile will always be more expensive than linoleum.

Expect to spend $5,000-10,000 on a small to medium bathroom with standard fittings and finishes, and $20,000+ on a higher-end upgrade.

When you’re setting your budget, consider the likely resale value of your property. If your house is at the lower end of the market, it’s probably not worth spending $25,000 on a bathroom, because you’re unlikely to gain that much when you sell. On the other hand, a high-end house could lose value if you opt for a simple, inexpensive bathroom upgrade.

Not so simple

Like many projects, bathroom renovations can be unexpectedly time consuming. You may be dealing with a number of contractors and suppliers – including builders, plumbers, and tilers – which adds time and complexity. Most projects will involve stages including stripping out the old fittings, building or installing new elements, plumbing in toilets, sinks, and baths, and finishing touches like tiling and painting.

No matter how simple your project seems at the beginning, don’t be surprised if it ends up taking longer than you expect. Spending a little extra time and effort means you’ll end up with a great looking, functional bathroom that’s better for you and your family. Plus, it will add value if and when you decide to sell your home.

Ready to start your bathroom renovation project? Check out the latest Plumbing World Home catalogue for ideas, or visit your local Plumbing World www.plumbingworld.co.nz.

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Jul 02, 2018

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