Bathroom additions have twice the resale value of a new bedroom. Bathroom additions have twice the resale value of a new bedroom.
The two rooms that benefit most from even small renovations are the kitchen and bathroom. One cost-effective change — like replacing an outdated vanity, old plumbing and lighting fixtures or adding a new tile floor — will guarantee a lot of bang for your buck and give your bath an updated, modern look.
A new bathroom could add up to 5% to the value of your home
Typically, an updated bathroom can potentially add between 4-5% to the value of your home.
An extra bedroom can add up to 15 per cent to the value of your home, especially if it's a loft conversion with an en suite bathroom.
Closure of facilities – public services, employment, amenities; if any of these services close, it could impact the value of your house as they're often appealing to buyers. Low school ratings – buyers pay to live in areas with good schools because they want their children to have access to the best education.
Number of Bedrooms
The number of bedrooms in your home will also increase your home appraisal value. The home appraiser will compare your home to other homes in the area with the same number of bedrooms to make a value comparison.
Per the International Residential Code (IRC) – as well as ANSI, another measuring standard most appraisers follow, habitable rooms must have a floor area (square footage) of no less than 70 square feet. These rooms also must not be less than 7 feet in any horizontal direction. A 7×10 room will be just fine.
Your home's proximity to grocery stores, public transportation, schools, and restaurants affects your appraisal value. In general, the higher the market value of your location, the higher your appraisal value.
Permanently Converting or Removing a Bedroom
Permanently converting a bedroom into anything else, is never a good idea and could devalue your property by as much as 10%. That means converting it to a dressing room/closet, TV/Media room or home office.
So how much value does a new front door add? According to Remodeling magazine, replacing your entry door has an average ROI of 74.9%. With that ROI, you could potentially add three-quarters of the front door cost back into your home's value.
But just how much value does a bathroom remodel add to your home? According to the RenoFi Renovation Index, on average, you'll be able to recoup somewhere between $13,688 (64% of the project's cost) for a midrange remodel and $37,995 for an upscale remodel (56.6% of the project's cost).
We've found that most people value a garage more than an additional bedroom. The need for extra storage space along with the reality that most conversions aren't done very well leaves us converting about 90% back to garages.
A bathroom is a must-have for families, whether it be for bathing the kids or when you want a moment to relax. As a result, if you are thinking about turning a bathtub into a shower, the short simple answer is no – you should avoid removing a bath at all costs to prevent devaluing your home.
"Not having a bath in a property can make a big difference. Ultimately if there is less demand there are less buyers which in turns affects your property price." Ben Hunt, Director of Winkworth Estate Agents in London, also believes a bath is a necessity: "It could have a real effect on the saleability of the property.
The short answer is “no, a messy home should not affect the outcome of an appraisal.” However, it's good to be aware that there are circumstances in which the state of your home can negatively affect its value.
Kitchens with modern, attractive appliances and quality floors and counters will increase a home's appraised value, according to Bankrate. Defective appliances, broken cupboards and a lack of counter space will lower the value, so replacing or fixing them can also lead to a better appraisal.
Do Appraisers Look in Closets? The short answer is yes, they will look in your closet… but only to determine the total living area. So while a clean, organized closet is a sign of respect for the appraiser (and a lot more pleasant to look at), a messy closet won't negatively affect home value.
Adding ceiling fans to rooms like bedrooms, the living room, or family room will add value to your home immediately.