Bathroom renovations are one of the most valuable upgrades in the modern home. Not only do they add a touch of personality to your living space, but they also increase the equity of your home in a very tangible way.
Recent studies show that bathroom renovations can increase home value by up to 70.1%. This number can go up or down depending on certain factors, including appliance choices, renovation cost, and of course, your contractor’s skill.
Here’s what you need to know about the value of your next bathroom renovation.
The ROI Of A Bathroom Reno
To understand the return on investment for your bathroom space, it helps to understand your average expenditures first.
The average household in Louisiana spends $7,000 to $16,000 on a small renovation, $14,000 to $32,000 on a mid-range renovation, and $19,000 to $43,000 on a higher-end project. With an average ROI of 70.1%, you can expect your home’s value to increase by a little as $4,907 or as much as 30,143.
There are a few other factors to consider. Updated appliances, including renovated showers or marble countertops, can increase your value in more subtle ways.
Keep in mind that the ROI of your renovation may increase over time. Remodeling growth suggests that bathroom renovations will stay in constant demand over the next few decades, which ensures your investment remains valuable and sought-after for many years to come.
The JOI Of A Bathroom Renovation
Money is just one small aspect of a renovation’s value. Updating your home also provides you with personal satisfaction and happiness – something that is downright priceless!
According to the National Association of Realtors, the joy score of a bathroom renovation is 9.6 on average. This number stays the same whether you contract the work or do it yourself, which means you have nothing to lose and everything to gain.
Of course, these numbers should be taken as basic guideposts for your next renovation. Your ROI and JOI is directly proportional to the quality, skill, and expertise of your local interior specialist. The more skilled your contractor is, the more value you could generate for your home.
And if you’re looking for the highest possible ROI on your next bathroom renovation, look no further than the experts at Northshore Renovations.
Choose Northshore Renovations And Contracting As Your Interior Specialist
Northshore Renovations is Mandeville’s trusted provider of interior renovation services. Offering 30 years of service to our local community, we’ve renovated hundreds of bathrooms across South Louisiana – and we’d be honored to do the same for you.
In addition to our bathroom services in Mandeville, we also provide solutions like:
Northshore Renovations isn’t just a renovations company; it’s a one-stop-shop for all your interior customization needs!
If you live near Covington, Madisonville, or Mandeville LA, Northshore Renovations can help you look at your bathroom in a whole new way. Call us today at (985) 845-3640 to request a free quote or visit us in person at 239 Dummyline Road, Madisonville, LA. Let’s walk through the possibilities together!