How much value does a renovated bathroom add?
Renovating your bathroom is an investment and for some, they’re doing that in hopes to see a return on that investment. Tassie Trade Services has seen the local property market in Tasmania go through significant changes in the past few years and we’re spotting a trend. Bathroom renovations are a simple, but effective, remodelling tool to add value to your property if you intend to sell it soon. We also know that you can budget for the overall cost of a bathroom renovation to maximize on returns, Australia’s Housing Industry Association has also noticed the shift and it says that renovations are on the rise in the area because of house price growth in Tasmania. You can read more of the report on their website. Minor cosmetic renovations like installing new fixtures and fittings are guaranteed to add value to your property because it gives your bathroom a fresher, more appealing look. If you’re looking at a complete renovation, this has the potential to add tens of thousands in perceived property value.
Tasmania realtors and property investors themselves will tell you that kitchens and bathrooms are usually the defining attributes of a home. There’s something sentimental about your experience in there that attracts buyers to meticulously finished and beautifully designed bathrooms. There are other renovations you can do to your home like pool installation or refurbishment, and property extensions but these don’t have the same effect. In terms of how they directly weigh in on the initial cost of investment, most of them pale in comparison to the value of a freshly renovated bathroom. According to Business Insider Australia, bathroom renovations can provide a return of up to 70 per cent.
How to renovate your bathroom for maximum potential in property value
Now that we’ve established why the property market loves renovated bathrooms and how much you stand to gain, it’s best to delve into how to get started without breaking the bank. The aim is to make a RETURN and that means profit. Spending hundreds of thousands on a bathroom renovation isn’t economically smart if you’re planning to sell your property soon. You just need to approach your bathroom renovations with a few money-saving tips in mind. Read more below:
Focus on the cosmetics
You can end up with a completely different looking bathroom without gutting the floors or walls to move things around. It’s one of the mantras of interior design and a common understanding between pocket watchers. Focus on the items that have the most visual impact and invest in giving them an upgrade that makes them look fresh and modern. Old and worn fittings are unattractive and usually give potential buyers the impression that they’ll have to cough up the cash to fix them up. Replace the fittings and tiles for something that looks new, shiny and has popular design aesthetics and it’ll pay off. A new looking bathroom will easily affect the price of the entire property.
We suggest that you replace taps, hooks, basins, and other accessories with new, modern items and it can make a world of difference to the look and feel of the room. Tassie Trade can also offer sky light design options if you are interested. It’s more inviting and that’s exactly how you want potential buyers to feel. Consider a fresh coat of paint and get your tiling redone because your walls and floor tend to dull in colour with age and you’ll want something that looks shiny and bright.
We’re your local bathroom renovation specialists
Upgrades? We’ve got it. High quality materials? No problem! Affordable rates and timeous services? That’s our basic guarantee to you! Give the qualified team at Tassie Trade Services your bathroom renovation business and we’ll deliver the design of dreams! Contact us now and we’ll get you on track to get that property value boost you’re after.