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
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 Â¾ bath for less than $4,000. Good luck
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
If the 2nd bathroom is for your own use, then I would go for it. Probably wouldn't be worth it if your only goal is to increase the value of your home.
It depends on where it's being installed, what's being taken away to make room for it, how the floor plan adapts to it, what the final product looks and feels like . . .
And it also depends on whether it overshadows the first bath and the kitchen. We've all seen houses where the best bathroom was in the non-daylight basement; the main floor (or 2nd floor!) bath is tired and worn, and the kitchen has seen 'way too many breakfasts. But the basement bath, sweet!
Having participated in the NAR poll once, and seen how it's constructed, I will never refer to it again.
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.