On each flip project a decision must be made as to whether or not the bathroom(s) need to be remodeled. The decision to remodel the bathroom of an investment property is one of the biggest you’ll make as it will also result in one of the largest costs in terms of time and money. The net financial result is what should concern you. Will the remodeling yield a profit on it’s own, or at least contribute proportionately to the overall profit.
The Pros of Remodeling the Bathroom of an Investment House:
Give it the WOW factor! The Wow factor is probably the major reason you would renovate the bathroom. There are three rooms that you want to be impressive; and the bathroom is arguably number one. Mr. and Ms. Buyer will often make their decision based on the condition of the bathroom.
Whether you choose to remodel the whole thing or just replace certain components should be based partly on the criticality of the bathroom in the buy-decision. Done properly a bathroom renovation could well be the deciding factor between getting your price and not selling your house.
An ugly, poorly maintained bathroom will have the potential buyers lowering their pricing expectations disproportionate to the amount it would cost to renovate it. A buyer purchasing a renovated house has expectations that certain things are in good shape – that’s why they’re buying a house that’s already been renovated.
Whether it’s a facelift or a total gut, that one room can make or break the deal.
If you’re working with a very limited budget you can decide which particular parts of your bathroom that you would like remodeled, such as the tub or the toilet or the sink.
If money is not an issue, you may make the decision to remodel your whole bathroom. In addition to deciding what parts of your bathroom you would like remodeled, you will also have complete control over the products and materials used.
For instance, if you wish to replace the toilet, you can choose the quality which suits the budget. What matters is that it’s new. Knowing that the toilet is new and has never been used is a big deal to some people. They may think “I will replace that toilet someday”, but it’s good enough to help facilitate a good overall impression.
Bathroom remodelling can be relatively easy to do depending on the depth you want to go. It is something an average handyman can do by themselves in order to save expenses.
Although you can save yourself money by doing your own remodeling, you may not want to or you may be unable to do so. If that is the case, you still have a choice. That choice is seeking assistance from a professional contractor.
Despite costing more money, your bathroom will be remodeled professionally and often in less time.
It is also important to mention that bathroom remodeling projects can help to increase a home’s value. That is one of the biggest pros to having your bathroom remodeled. The increase in value, if there is one, will depend on a number of different factors. Those factors include what type of remodeling is done, as well as how well it is done. Whether you choose to hire the services of a professional bathroom remodeling expert or if you have prior home improvement experience, the decision to remodel your bathroom could significantly increase the value of your home.
Although there are a number of pros to bathroom remodeling, there are also a number of cons. Those cons mainly include the cost of doing so. When it comes to deciding whether or not you want to remodel your bathroom, you will have to make up your own mind; however, when doing so you may want to keep the above mentioned points in mind.
The Cons of Remodeling the Bathroom of an Investment House:
There are two major cons to remodelling for a flip; cost and the impact of a poor job.
If you are contemplating a bathroom remodeling project, these cons may make you want to rethink your decision.
The biggest con to remodeling is the cost, particularly if you go high end on your fixtures. Remodeling for resale is not the same as remodeling for yourself. You must keep this in mind for a flip. The character of the end result should match the character of the house not your idea of what the perfect bathroom should be. Remember, you are in this for profit.
The extent to which you remodel will affect the price as well. If you gut the bathroom down to the joists you will be looking at a lot more than if you simply replaced the toilet and added a tub surround. In addition to the cost of supplies and materials, you also need to determine whether or not there will be any additional costs. For instance, if you make the decision to have your bathroom professionally remodeled, you will need to pay a professional contractor. Although a professional contractor often produces better results, you will find the cost of hiring one fairly high.
In addition to the cost of bathroom remodeling, it is also important to note the time that it will take. How long a bathroom remodeling project lasts will all depend on what is being remodeling. If you are simply looking to replace your toilet, you will find that your remodeling project takes less time than it would if you were planning on remodeling your entire bathroom. The amount of time it takes for remodeling will also depend on how much time can be devoted to it. If you make the decision to hire a professional contractor to remodel your bathroom, the remodeling will likely be done quicker. In addition to knowing exactly what they are doing, professionals can usually devote more time to work than someone who is only doing the work on the side.
Another one of the many cons to remodeling your bathroom is what it can do to your home. As you may already know, it is possible for a bathroom remodeling project to increase the value of your home. While an increase is likely to occur, it is not guaranteed. If your home’s value does increase because of a bathroom remodeling project, it will all depend on how much remodeling was done and the result of that remodeling. A professional or quality remodeling job is likely to produce the best increase in value.
What you need to be aware of is what a poor remodeling project can do for your home. There is a chance that a poor bathroom remodeling project could also decrease the value of your home. The chances of that happening are slim, but there is always a chance.