Making Money On Your Bathroom Remodel
I have seen a lot of contractors and I've read about it
in plenty of magazines and books that remodeling your bathroom will
usually give you an 80% return on your investment, when you go to sell
In other words, if you own a house that is worth $200,000, before you remodel your bathroom, and you're going to spend $60,000 to remodel your existing bathroom., you should be able to sell your home for $248,000, after your new bathroom has been installed.
By overspending on your bathroom remodel, you could actually get less back on your original remodeling investment. Don't believe everything that you read.
There are plenty of magazines, books and contractors who might suggest this, but when it actually happens, it could be a different story. Not every home that is sold, will return 80% of their investment costs for bathroom remodeling. This number is based on an average and sometimes these numbers can be manipulated to make them look even higher.
Now let's say that you own a home that is worth $200,000 and you only spend $20,000 on the remodel. Now you would be selling the house for $216,000 to get 80% of your investment back. You might be able to recoup your 80% , or even more, in a situation like this.
I would like all of the homeowners out there to listen to something that I am going to say and I will probably say it again, just because you read it in a book or someone says it, doesn't necessarily mean that it applies to you in your specific situation.
If you're planning on making money, by remodeling your bathroom, you could be shocked and surprised.