The short answer is yes. Bathrooms factor in when it comes to assessing property value. With the pandemic still lingering and the economic downturns worsening, many are thinking of selling their houses. The significance of bathrooms, in particular, merits some attention. Homeowners need to understand the role this part of a house plays during assessments.
Baths are a necessity
Bathrooms need to be presentable, and it is advisable to have baths in them. Real estate experts believe that bathtubs are considered as necessities by potential home buyers at present. Preston Baker Estate Operations Director Sarah-Jane Taylor, for one, says that the lack of a bath in a home can make it challenging to sell the property. It also lowers the property price. The experts at http://www.jtspas.co.uk say the type of bath is not that significant. It can be a freestanding unit or a corner one. What’s essential is for buyers to see that the home they are getting is complete with everything they expect to have in it.
Baths are not that expensive compared to the total price of a house. However, they have a significant contribution to the first impression a home makes. Not having a bath makes a home less attractive especially to family buyers. Baths appear to have already been ingrained in the psyche of most Western households, and its absence is perceived as an inadequacy.
The more, the better
Having more bathrooms improves the price and saleability of a property. According to a Direct Line Home Insurance study, an additional bathroom can raise the price of a home by around 5%. Also, the same study reveals that most real estate agents believe that an extra bathroom would improve the probability of selling a house.
In some cases, an additional bathroom can become a deal-breaker. A house with a newly-renovated basement, for example, will find buyers more easily if it has a bathroom in the basement or at least a space allotted for a bathroom in the area. Some also say that many buyers are willing to sacrifice the size of a bedroom to provide space for an additional bathroom.
Nine out of ten real estate agents say that the preferred number of bathrooms is at least two for a house with four bedrooms. A one-bathroom-for-every-bedroom ratio is ideal, but it is a rarity. Residential properties are not hotels, after all.
Bathroom renovations can help raise prices
A new-looking bathroom impresses potential buyers. That is why it is not a bad idea to remodel or redesign an existing one. The full price of the renovation may not be added to the original selling price, but it can help boost the chances of selling a property. Most homebuyers pay attention to the bathrooms since these are vital spaces that serve as a good representation of the care and maintenance a for-sale property is getting.
Again, bathrooms do affect the prices of properties. Their absence or inadequacies can mean a considerable price reduction. Moreover, they can impact the saleability of a home being offered for sale.