Have you ever been to a home viewing, got tingles of excitement – and then discovered the state of the bathroom? The tiles and shower are from another decade, the vanity’s falling apart and the layout is lamentable.
Many buyers will turn their back on the property at this moment – a response that can be a missed opportunity.
The disrepair of the bathroom can be used as a bargaining chip when you negotiate with the owner. You can say it will cost – say – $20,000 to fix, and ask for the price to be reduced by this estimate.
If you’re in love with the rest of the property, it’s always possible to remodel the bathroom. And better still, you can ask your lender to organize a loan that covers not only the price of the property but also the bathroom upgrade.
Some lenders may allow you to split the loan so the renovation component has a lower interest rate and is paid over a longer period.
As an experienced real estate agent, I believe that a new bathroom would significantly improve the value of your home. And that will pay dividends when it’s time to sell.
I work with buyers every day who put a premium on a quality bathroom and kitchen. If these two areas of your home meet market expectations for a stylish, modern design, you’re always going to find a willing buyer.
If you’re currently in the real estate market, don’t write off properties simply because a kitchen or bathroom needs attention. They represent an opportunity to buy at a discounted rate which can then be applied to building your dream home.
Here are some tips for renovating a bathroom, to give you some idea of how you might approach the challenge.
- Decide what do you need – If you’ve bought a family home, then you must have a bathroom that suits a family. The two essential elements in this scenario is a bath for kids and plenty of storage. Heated towel rails and under-floor heating might be considered nice to have in a family home, too.
- Make it modern – Future buyers of your property will put just as much emphasis on the bathroom as you do. Invest in an up-to-date design that features a full-glass, walk-in shower and eco-friendly showerhead and toilet.
- Check waterproofing – I cannot stress the importance of doubling-down on waterproofing. Leaks from the bathroom into other parts of the home can cause terrible damage over months or even years before you realize what’s happening. For this reason alone, I always recommend using experts to install a new bathroom.
- Stick to your budget – This is all-important. Focus on what is important to you. Buyers who want to flip their property will not invest heavily in faucets, under-floor heating, Italian tiles or a claw-feet bath. But if you intend to stay for several years, you might want to splash out on a few luxuries. The bottom line: stick to your final budget or costs could skyrocket.
- Consider layout options –Make sure you select a vanity and wall cupboard that are not too big for the space. A wall-hung vanity might need a little extra work to install, but the fact that it sits off the floor will make the room feel so much larger. A bathroom can be held hostage to regulation that determines where sinks and showerheads can be located in relation to electrical sockets.
- Plumbing challenge – You’ll contain costs by leaving the existing plumbing in place. But sometimes, your choice of layout is non-negotiable, and so the pipes will have to move. If you take this path, ensure your water heater is located nearby for maximum efficiency.
- Be firm on fixtures – You can go to town on fixtures, such as a showerhead, faucets and towel rails. So, give yourself a price limit on these items. Wall-mounted tapware and mixer faucets give the impression of a streamlined design. These fixtures must match the style of the bathroom.
- Tiling tips – The quality of finishing says everything about a bathroom. Large tiles can give the impression of space, especially in a small room. Laying them as rectangles has the same effect. For a confident DIY person, laying tiles on the floor and walls is straightforward until you have to cut tiles to fit into awkward spaces. If your budget stretches, hire a professional tiler. It will make a world of difference.