Due to COVID-19, you may have spent more time than usual at home, and you may also have noticed an increase in the amount of time that you’re spending in your kitchen and bathroom. These rooms are central in a home—they’re heavily used and are probably spots that you have on your radar to be sanitized frequently.
If your kitchen and bathroom are functioning well, you’ve likely been relieved—it’s hard to beat the peace of mind that a nice-looking, fully-functional space brings. If they aren’t functioning at their best, or if they look a little worse for the wear, you may have found yourself unenthused, stressed or frustrated. Damage to the countertops, tile, or tub can make a space look worn and tired, and can cause additional stress as you worry about lasting damage, higher water bills from leaking faucets or compromised resale value.
After all, kitchens and bathrooms are the spaces that buyers look at most when buying a home. And with coronavirus raising our awareness of how much we rely on these rooms, there may be increased value in the near future being given to kitchens and bathrooms on the housing market. This article will walk through the importance of the value of kitchens and bathrooms in a home’s resale value, and the connection of home values and COVID-19.
Are kitchens and bathrooms really that important when selling a home?
In short? Yes. Think of all the time you’ve spent in these rooms lately. You’ve probably been cooking meals or unpacking carry-out in the kitchen, which is also where you unpack and sanitize any groceries you buy or have delivered and also where your family gathers before and after meals. And the bathroom can provide a temporary sanctuary from the uncertainty of the world. So when you were looking for a home, you probably looked at these rooms with an extra-critical eye, to see if you could envision the space working for your family.
Buyers do the same. When buyers tour a home, they’ll notice the kitchen and bathrooms in particular. Outdated appliances, worn carpet, or too-small or non-functional layouts are big turn offs. The same goes for bathrooms—especially master bathrooms. Outdated colors, along with worn tubs, sinks, or tile, may scare buyers off.
These important rooms aren’t the first thing that many buyers want to pour money into when they buy a home—updated kitchens and bathrooms make a home sell faster and for a better price. Keep in mind how important these rooms are when living in your home. Since buyers want to envision themselves living in the space, it’s important that the kitchen and bathroom are spaces they want to be in. And with buyers now being reminded of the importance of these spaces during the coronavirus, they won’t let these spaces go unnoticed.
Will renovating the kitchen or bathroom help sell my home for a better price?
Yes! When it comes to the renovations that get you the biggest bang for your buck, kitchens and bathrooms are top of the list, along with basic home maintenance (think repairing roof leaks or water damage).
That’s not to say that you’ll get back every cent you paid for a renovation when you sell. When you redo a kitchen or bathroom, you’re likely to recoup a large percentage of the costs. Bathrooms usually recoup about 60% of the project cost, though that varies based on geographical area and on the type of renovation. Midrange renovations—those that update tile, countertops, and the tub—could recoup up to 67% of the cost, making them the most high-value type of renovation.
The same goes for kitchens. Minor renovations—like updating countertops, cabinets, hardware, flooring, or paint—and midscale renovations—which can include updating the layout—can recoup anywhere from 50 – 80% of the project costs. The exact amount depends on your home and project, comparable houses in your neighborhood, and your area. Here in the mid-South, the return on investment for a minor kitchen remodel usually starts at around 73%.
And what does COVID-19 have to do with my home value?
With disinfecting, social distancing, corona virus and hand washing on everyone’s mind, buyers are likely thinking a lot about the importance of keeping their homes sanitized and the amount of time they might be spending there in the future. With predictions in flux, but social distancing expected to remain in place for some time, buyers will be looking for homes they can move into and where all spaces are usable right away. The value of your kitchen and bathrooms may grow even more as these spaces are in everyone’s mind and high on everyone’s priority list.
What bathroom remodel ideas or kitchen remodels would get a good return on investment?
You don’t need to go for a high-level renovation with heated floors and towel bars with steam jets in your shower to get a great return on your rehab. It turns out that those super expensive renovations won’t get you the highest percentage of recouped costs. Buyers care about bathrooms that look nice and function well—after a certain point, you won’t get more money back on an investment of luxury upgrades.
The real showstoppers in a bathroom are the tub, tile, and countertops. Those countertops are also important in the kitchen. Scratches, chips, or damage can lead to long term problems and can make even a clean space look worn and dirty. But the good news is that you don’t need to totally replace your fixtures. Tub, tile, countertop, or sink refinishing can get your space looking great again, for a fraction of the cost of replacement. This process only takes a few hours, and can get your outdated or damaged fixtures repaired and looking great again.
Not sure? To read more about how this process works, you can check out our blog. Or, take a look at some before-and-after pictures to see the results for yourself!
Where can I find bathtub reglazing near me?
Wondering where can I find tub refinishing near me? The Tub Pros are here to help! We refinish tubs, sinks, showers, and countertops. To get your bathroom or kitchen looking good as new and working well, give us a call at (901) 871-TUBS / (901) 871- 8827 or use our online feature to contact us to get started on your project and get your jetted spa tub looking great again!