Condition of the Bathroom
If your bathroom is in good condition, you do not need to do any major work on it. Perhaps, a fresh coat of paint to spruce it up. Use neutral paint colors to avoid putting off potential buyers with bold ones.
On the hand, if the bathroom has major issues, then extensive repairs or remodels may be necessary. In some cases, such as changing the plumbing or square footage of the bathrooms, you will need permits from your local government.
Cost of Bathroom Remodels or Repairs
Bathroom remodels or repairs can cost anywhere from a few thousand to tens of thousands of dollars, depending on the extent of the improvements. They may also take several weeks or a month. If you do not have a budget for it, you can sell the house as-is.
Nevertheless, there are some ways you can reduce the cost of repairs and remodels. For instance, you do not have to go for high-end, luxurious materials. Reliable, mid-range materials will do. However, do not go for supper cheap stuff.
DIY simple repairs and upgrades such as changing faucets and fixtures to save on labor costs. Hire a reputable contractor for more complicated projects such as plumbing, electrical, and structural changes. It may be expensive upfront, but it will save you lots of money in the long run.
Return on Investment
Will the improvements increase the resale value of the house? Or will you recoup your costs from the sale proceeds? If you made major repairs or renovations, you would not recoup your costs fully.
And, if the costs were high, adding them directly to the house’s listing price will inflate your sale price above comparable homes.
Generally, most bedroom remodels have a 50-58% return on investment on your costs, although some have an ROI of up to 71%. However, the improvements can improve the perceived value of the house, increasing your pool of potential buyers.
As per the National Association of Realtors 2022 remodeling impact report, bathroom remodels recorded a 9.6 out of 10 joy score for both homeowners and buyers. Highlight the remodels in your listing and during the showing to inspire interest in potential buyers.
State of the Market
In a strong seller’s market, you can sell the house as-is and still fetch a good price. However, a buyer’s market is highly competitive, and it takes much more effort to close a sale. Therefore, you want your house in tip-top condition, including the bathroom.