Kitchens and Bathrooms are two of the most valuable rooms in your home. They are also the rooms that are most likely to need renovation. Being high use areas, with a plethora of steam, smells, and airborne particles once they start to get a little worn, they rapidly deteriorate.
The type of materials that you currently have in these areas, the style of design they use, even the colors and patterns of paint, wallpaper or tiles that have been used all play a huge part in whether you kitchen or bathroom can be cheaply renovated or really needs more extensive work to modernize
Unfortunately, it is also particularly easy to overcapitalise with any household renovations. Kitchen and bathroom renovations are prime for having extended expenditure with no possibility of financial return. The trick being to ensure that you are getting an exceptional upgrade that doesn’t cut corners, but that stays within a budget.
The Value of Renovating Kitchens
Even if you are planning on living in your home for the rest of your life, it is an unsound investment to overcapitalise on your house. While, of course, certain things will be the reason to throw financial caution to the wind, for the most part this is solid advice.
When it comes to your kitchen, a full remodel will generally get you around 50-80% return. This means that if you spend $50,000 ripping out your kitchen completely, and entirely rebuild, you can expect to get $25,000 – $40,000 back when you sell. Of course, this is assuming you sell before the kitchen needs to be redone again.
The Value of Renovating Bathrooms
Bathrooms are in a similar bracket to kitchens. While an outdated or unpleasant bathroom will certainly detract from potential buyers, it also makes living in the home a less that enjoyable experience.
Although we don’t tend to spend all that much time in our bathrooms, the time we do spend there is generally a moment of transformation. Being able to complete that transformation in a pleasant environment can significantly improve our mental state.
As with a kitchen renovation, you are generally going to able to anticipate a return on your investment of around 50 – 80%.
Although American, so use more for general interest that as an Australian or English homeowners guide to renovations, the yearly Remodelling magazine Cost-vs-Value report tracks trends in renovations. https://www.remodeling.hw.net/cost-vs-value/2019/ Interestingly enough, their suggestion is that the best renovation option is to remodel a mid-range bathroom with a 68% ROI, while adding on an upscale master bedroom ensuite is potentially the worst ROI%. The figures for the upscale ensuite they suggest are spending over $270,000 with a return on investment of only 50%.
Beautiful Kitchen Renovations Without Large Price Tags
Most people want a cheap renovation, that doesn’t actually look cheap! In fact, this is probably one of the primary reasons for any bathroom or kitchen renovation, the old dated style is starting to look cheap. While a coat of fresh paint will sharpen it up for a while, soon you will really need to start thinking about remodelling.
Bench and Counter Tops
The first thing that can really change the whole look and feel of your wet rooms has to be the counters you choose. While marble or stone could be one of the most luxurious tops you could possibly choose, for the majority of Australian homes, a beautiful laminate will likely do the trick as well.
Again, this will depend on your plans. If you are a baker or enjoy making confectionary, the extra expense of investing in marble, stone or even quartz, could be worth every penny in your kitchen, just for the added versatility it will provide to your lifestyle. Or you could invest in a stone work-table, or a marble inlay, and have a laminate or composite stone for the bench – creating a blend of functionality, beauty and price.
Functional Drawer & Doors
While most people really don’t think too much about the hinges or runners that are on your cupboard doors and drawers, if you have children, boarders, flatmates or partners that habitually leave cupboards and drawers half open, start thinking.
Self-closing hinges and runners can make life infinitely more pleasant and keep your area’s tidy with nicely closed cupboards at all times. However, these are more expensive that your standard options, so are likely only worth the investment if this will improve your lifestyle.
Beautiful Bathroom Renovations Without Large Price Tags
Bathrooms are a different kettle of fish to kitchens. While with a kitchen you can increase or decrease the overall cost of your renovation by picking the right tapware and appliances, with bathrooms this is less of a concern.
With this area you are going to need to think about your existing plumbing and try to work in with that. Replacing your old toilet for something new is easy enough but trying to relocate your sewer line can cause an exceptional expense. This is not always the case, so talk to your builder or plumber if this is something you really want to do.
A lot of the time the renovation is being prompted because people have a shower over the bath and want these to be separated. Or they just want to get rid of the bath completely. Whether to have a bath or not, for investment purposes, will depend on the size of your house and the size of your bathroom.
If you have a 3-bedroom home or bigger, then you will get a better value for your home by adding a relaxing bath. However, if you are trying to squeeze a bath into a tiny room then you will likely decrease the value by creating a cramped space.
Planning ahead and consulting with your professional builder will save you money and help to increase the value of your home.