Thursday, October 21 2010
A new bathroom brings added convenience for your family and can prove to be a valuable asset should you decide to sell your home.
Depending on the size of your family and the number of existing bathrooms in your house, adding a new bathroom may be one of the best home improvement decisions you’ll make. According to Greg Miedema, chairman of the National Association of Home Builders Remodelers (NAHBR), additional bathrooms are highly desirable features. “You can almost never go wrong adding a bathroom,” says Miedema.
This is especially true if an additional bathroom helps relieve congestion at hectic times, or if it provides much-needed convenience for guests—no small considerations.
As an investment, however, a new bathroom should be carefully considered. The cost of a new bathroom ranges from $39,000 to $75,800, but the return on that investment averages a modest 59%, according to Remodeling Magazine’s annual Cost vs. Value Report. That value has been steadily declining over the past several years due to rising construction costs and falling home prices.
National and regional data from the Cost vs. Value Report:
Resale value: $23,200
Cost recoup: 59.5%
National average cost, upscale 10x10-ft. bathroom addition:
Resale value: $43,900
Cost recoup: 57.9%
Read more: http://www.houselogic.com/articles/bathroom-addition-return-investment/#ixzz12wVxMCfh