Wednesday, March 14, 2012

A Bathroom Remodel Is The #1 Home Improvement Project You Can Do

Did you know that a bathroom remodel is the #1 rated home improvement project you can do for overall return on investment according to the Wall Street Journal? So everyone wonders, “Is it worth the money to remodel my bathroom?” Local realtors say, yes. However if you really don’t want to spend that kind of time or money, you need to fake it. Realtors say, nowadays, you can get rid of that yucky, moldy old tub with a new, beautiful walk in tub, or a wall surround. Just basically change whatever is ugly.

Paint a pretty color and get new accessories, and your bathroom can look transformed. All in about a day, for a fraction of the cost. On the other hand if you are committed to a total renovation it’s good to know that economists say remodeling a kitchen or a bathroom is always a smart investment. They even go as far as saying that all renovations should be done “where the water is.” Meaning kitchens and bathrooms.

So what kind of return will you get on your investment? You should not expect to fully recover the amount of the remodeling investment right away. Typically, you can expect between 80% and 90% back on your home improvement investment dollar, sometimes more, within the first year or two. With the proper remodel, you can increase and even make money on the improvement the longer you stay in the home. By being in the home a longer period of time, you give the real estate market time to increase and you leverage the remodeling investment as property values grow.

Investing in home improvement makes sense in most cases and under most economic climates. The homeowner should do their homework; use the resources available to them to help plan a budget and determine what type of changes they want to make.

Keep in mind the most important reason to renovate your bathroom is if the structural integrity of your home is being affected or damaged by excessive water, mold or moisture. The long term loss or depletion in the value of your home could be serious in this case. So if you have an old, moldy bathroom, remodeling or replacing the ugly, is always a good idea!

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