A home is viewed among one of the best and most valued investments. As time passes however, properties require continued maintenance and upgrades in order to avoid a decrease in value. Bathroom Butler, manufacturers of top-end stainless steel bathroom accessories and Heated Towel Rails together with Björn Laubscher, Managing Director of Mirfin, a South African based property valuations provider share advice and considerations when upgrading your bathroom in view of increasing the return on your investment (ROI) in the long run.
Interestingly, renovating or upgrading your bathroom is one of the single most valuable investments one can make to their property. According to leading property experts, you should make back between 65% and 75% of your costs when remodeling a full bathroom and around 65% of the cost when adding a full bathroom.
A home is generally upgraded for two reasons; to improve its habitability for the owner’s own enjoyment or for increasing the value for sales purposes. If a homeowner is upgrading his bathroom specifically with the intention of personal joy, he needs to be mindful of not over capitalizing, says Laubscher. A prime example is investing in state-of-the-art features when situated in a low income neighbourhood – this might increase the property’s value slightly but the return on investment will be disappointingly low further down the line if you do intend to sell.
If, on the other hand, you are looking at increasing your home’s market value by renovating your bathroom for resale purposes, it is important to stick to neutral colours. Your new look bathroom will have to appeal to the buyer or the new homeowner, so do not assume that your specific taste will agree with everyone else’s sense of style. Laubscher says, “I would highly recommend sticking to white colours and stainless steel products due to their durability, just like Bathroom Butler’s range of high-end Heated Towel Rails and bathroom accessories. It is also advisable to keep the grade of improvements of your bathroom in line with the overall grade of the house”.
If you are considering doing some bathroom renovations or upgrades you should be careful to not fall into the trap of spending a majority of your budget in the beginning of your renovations, save some of your budget for the final phase and invest in good quality bathroom accessories that will last and save you in the long run. Consider durable and high-quality fixtures such as the Bathroom Butler Heated Towel Rail, a BETTE bath, a double basin instead of a single one, recessed lighting, new flooring and wall tiles if necessary and a fresh coat of paint.
“People are becoming increasingly more conscious about choosing top products that are durable and long-lasting. A new bathroom should last at least five to eight years, by investing in good quality products that are beautifully designed and made from robust materials, homeowners can save money in the long run as their bathroom renovation will last longer and see a better return on investment.” concludes Andrew Taylor, CEO of Bathroom Butler.