When you walk into a luxury hotel suite, chances are your eyes scan the room for a beautiful bed, and then you go right to the bathroom. Huge walk-in shower, rainfall shower head, body sprays, natural stone counters, heated floors and gleaming glass every where. Sound nice? Everyone likes a sanctuary. Why not make your own bathroom a luxury retreat? After kitchens, bathrooms are the second most popular room of the house to update and provide the second highest ROI. Before you update, upgrade, expand, maybe even add an additional bathroom, understand the return you can expect, and how to make the most of your budget.
Average ROI for a Bathroom Remodel in the Chicagoland Area
Before you estimate a budget for your bathroom remodel, let’s look at the numbers. According to the 2017 Cost vs. Value Report from Remodeling Magazine, the average cost and return for bathroom remodels in the Chicagoland area are as follows:
What is not calculated into this equation is the breath of fresh air a newly remodeled bathroom will bring to your entire house. An updated bath can also be the differentiator when home buyers are comparing like properties.
Ways to Increase Your ROI
Today’s bathrooms are much larger than those designed decades ago – proof of how bathrooms have risen in importance within home design. If you have the space, consider a footprint expansion to accommodate a large walk-in shower with a frameless glass enclosure. In a large spa-like master you will see a steam shower and separate freestanding tub with a floor-mount bath filler and hand shower. When it comes to bathing, homes must have at least one bath tub, but most tubs (especially the 1990s “must have” drop-in whirlpool tubs) go largely unused. Are you using yours? Storage is also very important. Your bathroom should provide space to store extra towels and hair dryers and no one wants to leave the bathroom to find an extra roll of toilet paper! With multiple people sharing both bathrooms, double vanities have become a “must have” because everyone seems to need to be in the bathroom at the same time.
Make the most of your budget, and your square footage. If you don’t have additional space to expand – think luxury. Replace your existing fixtures with today’s finishes such as oil rubbed bronze, brushed gold, or timeless polished chrome or satin nickel. Faucets are just the beginning, don’t forget the new and energy efficient shower head and valve trim to tie the room together. Make sure to consider your lighting needs, as lighting is often overlooked in the bathroom and can make a major impact on a small space. Let recessed fixtures light the room, and add sconce fixtures to illuminate the vanity area. Not lucky enough to have natural light? A sky-light can transform the smallest interior bathroom.
Elements buyers value most in a master bath:
• Large walk-in showers with multiple shower heads
• Double vanity
• Custom cabinetry
• Heated floors
Hall bathroom must haves:
• Energy efficient fixtures
• Porcelain tile
• Storage space
• Proper lighting and ventilation
Where to budget:
The graphic below provides a cost-breakdown of where people spend their budgets on average during a bathroom remodel:
Learn more about the cost differences of various types of bathroom remodels in our Bathroom Remodeling Costs breakdown.
The bathroom is a truly personal space, and a well-designed and well-appointed bathroom delivers on both form and function. A room originally designed to be utilitarian is now viewed as a private retreat. A well-designed bathroom balances form and function. Three kids sharing one hall bath? A double vanity makes sense and looks good – and would look even better with a tall center cabinet separating those sinks. And just because you don’t entertain in your bathroom doesn’t mean it shouldn’t reflect your style. If you cringe when guests ask to use your powder room – that’s a good indication you need a remodel! Raise the bar from “presentable” to “WOW”. The smallest half-bath is the perfect room for the highest quality mosaic tile and vessel sinks.
What About a Bathroom Addition?
When to update, when to add.
Before considering a bathroom remodel, take a look at your entire home and do a few calculations. What is your ratio of bedrooms to bathrooms? If you only have one bathroom, adding an additional bathroom may be the best use of your budget. Whether you have the space for a half-bath, or can fit a full bathroom into your property, that additional bath will make your home both more functional for your family and more attractive to future buyers. If you have a one and a half bathroom, perhaps expanding that half-bath to a full bath makes sense for your family? A new half or full bathroom is the ultimate canvas and may be the best use of your budget. Think big picture, long term, and ROI.
How to Start Planning for a Bathroom Remodel
If you are ready to begin the planning stages – look to sources like Houzz or Pinterest for inspiration. Think about why you want to remodel the bathroom in the first place, and create a wish list. If your current layout works, you may be looking to just update the existing fixtures. If you need to reconfigure your current space, or expand the bathroom footprint, fixture moves will need to be part of your budget.
DIY or hire out?
Remodeling your bathroom as a DIY project is no small undertaking. From plumbing and electrical to tile work, a bathroom remodel can be a complex job, leaving little room for error. This is why most homeowners choose to hire a professional contractor for their bathroom renovation projects. If that is your plan, begin researching contractors in your area (ask friends/family for referrals, read reviews). Then, once you find a few you like, schedule a consultation to learn more about their process – and see if it aligns with your goals.
If you are interested in remodeling your bathroom – we’d love to help you get started! Contact us today, for a free consultation.
View Our Full Bathroom Infographic Below: