Once upon a time, a lack of bathroom space in your home could easily be rectified by establishing a schedule amongst household members.
Now, we’re spending more time at home due to the global pandemic. So, you may be finding yourself sharing a little bit more of your bathroom time than you’d prefer.
It is because of this many families are opting to add on a bathroom to their existing home.
Here, we will discuss the cost and resale value of doing so.
Previously, we wrote about how the cost vs. value report works. This tool is especially useful in determining how much a bathroom addition will run you, and if it is worth it.
A midrange bathroom addition is projected to cost an average of $49,596.
You must also consider whether you are adding a full bath or half bath.
Lastly, what can vastly hike your budget up is if you are adding onto your house’s exterior structure, or simply carving out the existing framework to make room.
What is the ROI on a bathroom addition?
ROI stands for return on investment, which is the profit you stand to gain if you eventually sell your home.
You can expect an ROI of 54% on your bathroom addition.
So, if we take the average cost of $49,596, you will be adding $26,807 of value to your property.
For a more upscale bathroom addition, the ROI is very much the same.
It is also important to consider that homes with more bathrooms get more attention on the market. When it comes time to sell, this should help a slew of buyers to come knocking on your door.
Is it the best use of space?
Depending on your square footage, you may need to make the important decision to add to your home or use existing space.
If you have the space to spare, you will end up saving yourself money in the long run.
However, if you are thinking of resale, buyers hate a cramped house. Even if it means an additional bathroom.
Chances are if your home only has one bathroom it is already on the smaller side. An addition may come with a hefty price tag, but it also comes with a huge reward.
Consult with a contractor to get a professional opinion.
Get the best bang for your buck
The biggest piece of advice is to make sure your master bedroom has an on-suite bathroom. If it does not, then you know where you should be adding this additional bathroom.
Also, it has become increasingly more common for buyers to desire at least one tub in their home. Focus on incorporating one into your bathroom design if your existing bathroom does not have one.
Read more about pandemic drive updates here.