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When property prices stagnate, many homeowners look at other ways to give their home a helping hand up the valuation ladder. General refurbishment, new guttering and a fresh coat of exterior paint, will add extra appeal. Improved glazing, full insulation, kitchen refits, loft conversions, and a modern conservatory will all add value. As will upgrading your bathroom suites. An extra bathroom walk-in showers and furniture can, according to a recent survey of UK estate agents, substantially increase the value of your home and for great deals check out the bathrooms over at Bellabathrooms.
A second bathroom is becoming a must have addition
In a survey carried out for Direct Line, over 75% of agents thought an extra bathroom adds the most value. In the same survey, over 90% believed a four or five bed house should have at least two bathrooms, or selling becomes problematic. That said, estate agents were not so sure once the bedroom tally got up to six or more bedrooms and three bathrooms. Unless you’re opening a hotel, do you really need all those extra bathrooms?
Where though, do you fit your extra bathroom?
Unless you’ve picked up an older four-bedroom detached house with larger rooms, space is often a problem. If your master bedroom can take it, an en-suite is always a good bet. While the teenage kids are arguing about who gets the bathroom first, or how long they will be using it, mum, dad or grandma can pamper themselves in their own, personal en-suite space. Estate agents also consider that, in higher end properties, at least one en-suite bathroom is a major marketing point.
The bedroom to bathroom conversion
Adding a second bathroom is becoming so popular in some areas, that losing the smallest bedroom, and adding an extra bathroom, is reckoned to increases the property’s value and improve its selling potential. That is, three bed, two bath properties are selling faster, for more, than the original four bed, one bath properties. However, if you own a three-bed semi, converting the small bedroom to an extra bathroom is not a good idea. The value of your property will decrease.
What might be worth considering if space allows, is adding an en-suite in the master bedroom, or a WC plus sink, cloakroom. The often-unused space under the staircase is a popular cloakroom location, and the house has the added selling point of two WCs, although the property value increase will be less than with a full bathroom.
So how much extra will your house be worth?
Taken overall, it’s estimated that an extra bathroom can add from 5% to 6% to the value of your property. Allowing for price differences in the different regional areas, that 5% could equate to around £12,000, on a selling price of £240,000. In most areas, that’s on the low side for a four-bed detached property. On the other hand, if your des-res is a £1.5-million place in central London, a top specification en-suite will add £50,000 to your home’s value.
If, after much consideration, space just doesn’t allow that extra bathroom, all is not lost. The average bathroom upgrade costs around £5,000, or less if you can find a bathroom suite sale. By carefully choosing your colour scheme, lighting, and modern bathroom designs, you can increase the value of your property, and improve your chances of achieving your full asking price.