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The Pros and Cons of Bathroom Remodeling for Resale Homes
Thu 08 Feb 2007 - 17:02
The Pros and Cons of Bathroom Remodeling for Resale Homes
By Steve Leighton
On each flip project a decision must be made as to whether or not the
bathroom(s) need to be remodeled. The decision to remodel the bathroom of an
investment property is one of the biggest you'll make as it will also result in
one of the largest costs in terms of time and money. The net financial result is
what should concern you. Will the remodeling yield a profit on it's own, or at
least contribute proportionately to the overall profit.
The Pros of Remodeling the Bathroom of an Investment House:
Give it the WOW factor! The Wow factor is probably the major reason you would
renovate the bathroom. There are three rooms that you want to be impressive; and
the bathroom is arguably number one. Mr. and Ms. Buyer will often make their
decision based on the condition of the bathroom.
Whether you choose to remodel the whole thing or just replace certain components
should be based partly on the criticality of the bathroom in the buy-decision.
Done properly a bathroom renovation could well be the deciding factor between
getting your price and not selling your house.
An ugly, poorly maintained bathroom will have the potential buyers lowering
their pricing expectations disproportionate to the amount it would cost to
renovate it. A buyer purchasing a renovated house has expectations that certain
things are in good shape - that's why they're buying a house that's already been
renovated.
Whether it's a facelift or a total gut, that one room can make or break
the deal.
If you're working with a very limited budget you can decide which particular
parts of your bathroom that you would like remodeled, such as the tub or the
toilet or the sink.
If money is not an issue, you may make the decision to remodel your whole
bathroom. In addition to deciding what parts of your bathroom you would like
remodeled, you will also have complete control over the products and materials
used.
For instance, if you wish to replace the toilet, you can choose the quality
which suits the budget. What matters is that it's new. Knowing that the toilet
is new and has never been used is a big deal to some people. They may think "I
will replace that toilet someday", but it's good enough to help facilitate a
good overall impression.
Bathroom remodelling can be relatively easy to do depending on the depth you
want to go. It is something an average handyman can do by themselves in order to
save expenses.
Although you can save yourself money by doing your own remodeling, you may not
want to or you may be unable to do so. If that is the case, you still have a
choice. That choice is seeking assistance from a professional contractor.
Despite costing more money, your bathroom will be remodeled professionally and
often in less time.
It is also important to mention that bathroom remodeling projects can help to
increase a home's value. That is one of the biggest pros to having your bathroom
remodeled. The increase in value, if there is one, will depend on a number of
different factors. Those factors include what type of remodeling is done, as
well as how well it is done. Whether you choose to hire the services of a professional
bathroom remodeling expert or if you have prior home improvement experience, the decision
to remodel your bathroom could significantly increase the value of your home.
Although there are a number of pros to bathroom remodeling, there are also a
number of cons. Those cons mainly include the cost of doing so. When it comes to
deciding whether or not you want to remodel your bathroom, you will have to make up your
own mind; however, when doing so you may want to keep the above mentioned points in
mind.
The Cons of Remodeling the Bathroom of an Investment House:
There are two major cons to remodelling for a flip; cost and the impact of a
poor job.
If you are contemplating a bathroom remodeling project, these cons may make you
want to rethink your decision.
The biggest con to remodeling is the cost, particularly if you go high end on
your fixtures. Remodeling for resale is not the same as remodeling for yourself. You must keep this in mind for a flip. The character of the end result should match the character of the house not your idea of what the perfect bathroom should be. Remember, you are in this for profit.
The extent to which you remodel will affect the price as well. If you gut the bathroom down to the joists you will be looking at a lot more than if you simply replaced the toilet and added a tub surround. In addition to the cost of supplies and materials, you also need to determine whether or not there will be any additional costs. For instance, if you make the decision to have your bathroom professionally remodeled, you will need to pay a professional contractor. Although a
professional contractor often produces better results, you will find the cost of hiring one
fairly high.
In addition to the cost of bathroom remodeling, it is also important to note the
time that it will take. How long a bathroom remodeling project lasts will all depend
on what is being remodeling. If you are simply looking to replace your toilet,
you will find that your remodeling project takes less time than it would if you
were planning on remodeling your entire bathroom. The amount of time it takes for
remodeling will also depend on how much time can be devoted to it. If you make
the decision to hire a professional contractor to remodel your bathroom, the
remodeling will likely be done quicker. In addition to knowing exactly what they are doing,
professionals can usually devote more time to work than someone who is only
doing the work on the side.
Another one of the many cons to remodeling your bathroom is what it can do to
your home. As you may already know, it is possible for a bathroom remodeling project
to increase the value of your home. While an increase is likely to occur, it is not
guaranteed. If your home's value does increase because of a bathroom remodeling
project, it will all depend on how much remodeling was done and the result of
that remodeling. A professional or quality remodeling job is likely to produce
the best increase in value.
What you need to be aware of is what a poor remodeling project can do for your
home. There is a chance that a poor bathroom remodeling project could also
decrease the value of your home. The chances of that happening are slim, but
there is always a chance.
As previously mentioned, when having your bathroom remodeled, you have a choice
as to whether you want to do your own remodeling or a have a professional do it
for you.
When it comes to bathroom remodeling, you will find that are more cons to do it
yourself bathroom remodeling.
As you can see, there are a number of bathroom remodeling cons. Although it may
seem as if it isn't worth it to remodel your bathroom, there are also a number of
bathroom remodeling pros. These pros include a new bathroom and the possibility of
increasing
your home's value. If you are interested in remodeling your bathroom, only you
can decide whether or not it would be worth it and given your skill set and time,
what the best approach would be.
Steve Leighton
Real Estate Investment Consultant
http://www.HouseFlipOnline.com
steve@housefliponline.com
Author of "Guide to Buying and Selling Fixer Upper Homes"
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Article Source: http://EzineArticles.com/?expert=Steve_Leighton
http://EzineArticles.com/?The-Pros-and-Cons-of-Bathroom-Remodeling-for-Resale-Homes&id=444217
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