No remodeling project provides a 100% return but some projects, including room additions, give a better return on investment (ROI) than others. In this two-part blog series, we’ll look at the projects that provide the best return on investment, as well as a few that don’t. All the numbers we’re using come from the 2020 Remodeling Cost vs. Value Report using Manchester, NH, data.
Although there are several bathroom remodeling classifications, they all have a decent ROI. Both a midrange bathroom remodel and a universal remodel will return about 70% of your investment. An upscale remodel returns quite a bit less at 55%.
A “universal remodel” includes modifications for a mobility-challenged individual. The remodel will widen doorways to 36 inches and lower light switches. Rather than including a tub/shower combination, you’ll need to remove the tub and instead install a zero-entry shower with a bench. The showerhead needs to be adjustable for someone sitting or standing, and you’ll want to include grab bar-style towel holders throughout the space. The toilet should include a bidet and be comfort-height. You’ll spend about $33,000 and recoup about $23,000 when it’s time to sell your home.
More common is the midrange remodel. This is when you modernize and update a typical hall bath of about five feet by seven feet. Although you’ll still have a combination shower/tub, you’ll surround it with tile and replace the flooring with new tile. Other new elements include a solid surface countertop with integrated sink and a new vanity.
One of the most common room additions is the master suite addition. Most of the time, we don’t add on an entire ensuite but rather a bathroom to the master bedroom, turning it into a suite. A master suite room addition doesn’t have the greatest of returns – only about 50%. However, an upscale bathroom addition gives a 67% return. Here’s the definition of an upscale bathroom addition:
- 100 square feet of new space added to a standard-size bathroom.
- Ceramic tile shower with details like decorative tile, shower nook and upscale showerhead.
- Separate soaking tub.
- Natural stone countertop on the custom vanity with two sinks and two medicine cabinets.
- Separate toilet area.
- Tile floor and molding.
- New lighting and fixtures throughout.
What Provides the Best ROI?
If you missed last week’s blog, check it out. In our area, the best return on investment isn’t bathroom remodeling or a room addition – it’s adding a composite wood deck! You’ll recoup nearly all of your approximate $19,000 expense. If you’re not looking to add a deck, consider updating your entryway, which gives a return of just over 75%.
Let G.M. Roth Design Remodeling Help
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