According to a recent real estate study, US homeowners spent approximately 61% more on improvement projects during 2017 than the twelve months prior, and it’s important to note that roughly two thirds of these individuals plan on “spending even more on various renovations in 2018.”
If you happen to fall into this category, it’s in your best interest to take a closer look at the true value of contemporary bathroom remodeling in Denver. This brief article will help fill in the blanks.
A Valuable Return on Your Initial Investment
According to a national panel of property appraisal experts, facilitating a top-to-bottom bathroom remodel in Denver represents a sure-fire way to bolster your home’s resale value and recoup all of the contractor fees immediately after the project. Consider the following facts:
- In Denver’s high-demand real estate market, a typical $8,000 bathroom renovation can increase your property’s market value by upwards of $5,000 at resale, which equates to an ROI of 63% or more.
- Incorporating double sinks, brushed metal fixtures, and other luxuriant inclusions within your design plans can actually cause your ROI to surpass 100%, which makes it one of the most lucrative improvement options in today’s landscape.
- Even if you don’t plan to sell your home in the near future, your new bathroom will hold its full value for at least ten to fifteen
By contrast, a new pool can cost as much as $25,000 and will only deliver a paltry ROI of about 15%.
Many of today’s Denver bathroom remodeling experts will also be able to install low-flow toilets, augmented sinks, and modernized shower fixtures, which can considerably reduce your monthly utility costs and mitigate water waste by hundreds of gallons per year.
Thus, if you’d like to capitalize on your forthcoming home improvement plans, the best place to begin is with your bathroom.