Hi Meg,
Before anyone can give you a great answer you'd need to know a little more information. It depends on your current layout of your home. Is it 2 bedrooms 1 bath? Adding a full bath in a home with only 2 bedrooms would not increase your value as much, if you had a 3 bedroom home. Can the bath be added somewhere that is more cost efficient. I added a 3/4 bath to a utility area in a rental of mine and it was well worth the investment. I'd be more than happy to tailor an answer to your question if I knew a little more about the situation. Also, be very selective in the contractor you select, make sure you have a set budget and stick to it. By the way I added that ¾ bath for less than $4,000. Good luck
Hi Meg,
Each year in the December issue, Realtor magazine (a monthly publication sent to Realtors) publishes an awesome report called the "Remodeling Cost v/s Value Report". The data is adapted from Remodeling Magazine. It is probably one of the most extensive and in-depth reports that can be found on the subject. In the past, reprints could be purchased. Starting in 2006, you can now go to a web site, purchase & download a PDF report for your city, purchase multiple reports or buy a booklet covering 60 different cities and 25 different home improvement projects in nine regions.
I am not sure what section of the country or which city you are in; however, if you email me your specifics, I'll be glad to look up the figures for bathroom additions closest to your area. - Ted Shoop
Meg,
This is one of those areas that bring the biggest bang for the buck. In Washington a second bath almost always brings more $$ at the time of sale than the cost to put it in.
Remodel magazine did a survey and came up with this for the Seattle area:
Bathroom Addition Project Description: Add a full 6-by-8-foot bathroom to a house with one or one-and-a-half baths. Locate it within the house's footprint. Include cultured-marble vanity top, molded sink, tub/shower with ceramic tile surround, low-profile toilet, general and spot lighting, mirrored medicine cabinet, linen storage, vinyl wallpaper, and ceramic tile floor.
Project cost: $26,487
Resale Value: $30,000
Cost Recouped: 113.3%
To see more go to: http://www.workingforyou.typepad.com//realestate/2007/02/hom
I agree with the first answer. Trying to put a $$ sign on the actual value could be pretty tricky and mislead you into thinking your home is worth more because of an extra amenity or room.
As agents we are aware that price is determined by what the local market will bear. A cardinal rule that should never be broken - is upgrading your home beyond what your local market can absorb.
There was a great topic about it... I should use my another PC -- I bookmarked it. The price will go up, depending on area, somewhere between $8k to $15K, so, $12K from the previous answer sounds just right.
It will depend on the value of homes in the area. You have to compare similar homes and then see the price differential for ones with an extra bath. A simpler but less accurate way would be to estimate around 12,000
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