Many of us hold off on doing any renovations or updates to our home because we don't want to spend the money. Oftentimes, those updates don't happen until we're getting ready to sell our house - which is sad, because it means you don't get to enjoy the updates yourself. When it comes to the master bath, it's often the last place that gets done, period, because we so often focus on kitchens and spaces that guests more commonly see. But, you deserve to luxuriate in that sparkling new tub and gaze at those pretty countertops now - not just on your way out the door to another home. And that's only one reason to start updating your master bath right away.
Because it gives good ROI
Like any other renovation, your return on investment will depend on how good of a job you do. Make poor choices or do shoddy work and your reno likely won't pay off. But make smart updates and you could see an average of a 70.1 percent return - one of the higher returns for reno project, according to the 2018 Cost vs. Value Report from Remodeling magazine, which takes the pulse of renovations nationwide every year. That potential ROI is based on a spend of $19,134 for a "non-upscale" remodel. (Their upscale remodel of $61,662 yields an average return of 56.2%.)
Do some of the work yourself, get great deals on materials, and find other cost-cutting measures, and your ROI will be even greater. Also, if you're turning a tiny shower into a large, luxurious one, adding a soaker tub to a bathroom that was missing a tub altogether, or turning a one-vanity space into a two-fer, you could be creating a space that will help attract buyers instead of turning them off. A bad master bath can make your home sale a bust.
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