America’s realtors are hyper aware of the impact home renovations can have on a property’s value. The National Association of Realtors has recently released its Remodeling Impact Report, which tracks how much a homeowner enjoys their upgrades and renovations as well as how much of the cost of the project is recouped by the increase in a property’s eventual selling price.
Adding a second bathroom scored a perfect 10 on the realtor’s Joy Scale. Sure to be of interest to the NYC homeowner is the fact that upgrading or renovating the bathroom delivered a near perfect 9.3 on the Joy Scale. This was not surprising news to us, as your NYC plumber we see many area homeowners who prefer a more modern, comfortable bathroom to the one they currently have. Bathroom renovations often include installing new toilets, showers or baths, and sinks as well as making the changes necessary to accommodate any new heating fixtures, towel warmers, or similar upgrades.
Happiness is important, but so are finances. The National Realtor’s report uses values based upon national averages when calculating the Value Recovered; it’s important to bear in mind that these numbers are likely lower than what we’d see in New York’s much higher priced housing market. That being said, bathroom renovations deliver a 58 percent value recovered rate. That’s nearly six cents on the dollar – not too shabby!
So if you’ve been wavering on the fence about having your NYC bathroom remodeled, hesitate no longer. Bathroom upgrades are proven to increase homeowner happiness and property value. Start talking to your NYC plumber about what you’d like to have done today!