Cost of Adding a Bathroom to your House
Adding a bathroom to your space might add the value of your home exponentially, depending on the changes you make. The cost for adding a bathroom in your house ranges from $3,000 to over $35,000 depending on whether you are renovating an existing space or installing a new extension from scratch. The cost of adding a new bathroom from scratch can go way above the maximum estimate if you are intending to add a very large bathroom, or several extras.
The cost of adding a bathroom covers charges for a shower or bathtub, insulation, electrical and light fixtures, as well as plumbing considerations. Depending on the type of flooring you choose, this will add to the cost of project. The toilet alone can cost up to $500 to install. Additional costs include permit fees, legal fees, and the cost of hiring professional electricians and plumbers, which starts from $50 per hour.
Return on Investment (ROI) of Adding a Bathroom to your House
Is it really worth it? This depends on the reason you are considering the addition. For some people, adding a bathroom is necessary for its functionality and convenience. For instance, if the number of people in the house is set to increase and the current facility cannot support the additional number, then a new bathroom will be necessary. However, the real value of adding a bathroom to your house lies on the ROI it offers. The amount of value the bathroom returns depends on the initial value of the house. For a house whose value was relatively low, the addition of a new bathroom will make a big difference. However, if the value was already among the highest in the area, the difference brought about by the addition is quite small.
The value you get out of the bathroom also depends on the size of the bathroom. For instance, a full bath fetches about a fifth of the house’s value I return. A half a bath, on the other hand, attracts about a tenth of additional value. The conventional wisdom is that you minimize the cost of the project as much as feasible by avoiding unnecessary or avoidable expenses to enhance the ROI.
Tips on Increasing ROI
The resale value of your house can increase significantly if you add a bathroom to your house. Although it does not lead to 100% ROI, a new bathroom shows high demand in the market, ensuring you get a good bargain following the buyer’s inspection. Depending on your area, adding a bathroom can fetch up to 87.7% ROI. Unfortunately, the East North Central regions, such as Illinois rank lowly in ROI related to adding a new bathroom, and this ranges to 58.8%-59.2%. Thus, you could contact OHI for customized advice on the most valuable addition that can lead to a greater ROI according to customers’ demand.
Some of the essential tips to increase the ROI of adding a new bathroom include prioritizing the layout, keeping the design neutral, focusing on inexpensive, and budget-friendly options. Spending less on the project implies a higher return on investment as compared to going overboard with the expenses.