News Letter 03/16

New Year – New Bathroom Project!

Mortgage rates continue dropping while home prices continue rising in Florida! Inventory continues to tighten as homes are selling fast! Floridian confidence in the economy is stable!

It brings me great joy to share this positive news with you, as I’m certain many of you (or people you know) have waited for the beautiful Spring Season to begin listing your homes for sale! The 2016 year will be another great year in real estate!

Whether you are planning to keep or sell your home, a mid-range bathroom remodel is a solid investment. Experts say an average bathroom remodeling will cost you about $16 thousand this year (with about 20 percent of that being labor cost) and recover about 70% of those costs when it’s time to sell your home. Statistics suggest your bathroom is the second most important part of your home (kitchen being the first) to which prospective buyers pay a great deal of attention. Homes with attractive bathrooms will sell faster and at better terms for the seller. But, if nothing else, how refreshing would it be to wake up and begin your daily routine enjoying your very own, newly remodeled bathroom? Other property owners, just like you, are living that very dream right now! According to the 2015 Remodeling Impact Report from the National Association of Realtors®, on a scale of 1 to 10 (10 being the highest), homeowners gave their bathroom remodeling a Joy Score of 9.3! So roll your sleeves up and get to work with the following tips on bathroom renovation with budget in mind!

Have a plan and stick to it!

Before picking up the biggest hammer in your garage and bashing your long-hated bathroom to bits, think hard about what you want in your bathroom and how much you are willing to spend on fixtures and materials. Work stoppages and alterations can be costly. It is recommended that you spend up to 6 months on self-planning or hire a professional designer (paid about $200/hour with an average of 10 to 30 hours of work).

Keep the same footprint!

If you plan to replace an outdated Jacuzzi tub for a more popular deep tub, install your new tub into the same indent of your previous one instead of moving it into a different area of your bathroom – doing so will save you in plumbing and other related costs.

Focus on the visuals – Nice tile, nice colors, nice fixtures.

• Consider non-slip ceramic tile and epoxy grout that is less prone to cracking and resists staining and discoloration over time.
• Use natural colors for permanent fixtures and surfaces! They are safe in terms of resale value. You can add your personality through usage of color in towels, window treatments, rugs, shower curtains, and wall décor. When it’s time to sell, these can be easily removed.
• Don't spend a lot on the high-end utilities – most people can't tell the difference.  Instead, refresh the look of cabinets by replacing hardware rather than tearing out the entire structure. Update towel bars, hooks, toothbrush and toilet paper holders, and cabinet hardware. Add matching shelves for your towels and toiletries.
• Choose lighting over other amenities that cost more! A well-lit bathroom will make you look and feel great every day as well as set your bathroom aside from competitors when you are ready to sell your home. Pay attention to the lumens of your light bulbs and consider having two ceiling or soffit-mounted fixtures and side fixtures or scones distributed vertically across 24 inches.

Use space wisely and pay attention to storage and utility!

If you need more storage, replace a mirror with a deep medicine cabinet. Use the upper wall space in your bathroom (space over toilet tanks, etc.) for additional storage. Buyers love lots of storage space! Adding a slide-out tray to vanity cabinet compartments provides full access to stored items and prevents lesser-used items from being lost or forgotten.

Keep the air clean!

Moisture in the air can contribute to foggy mirrors, slippery bathroom floors, and – more importantly – the growth of mildew and mold. Bathroom ventilation systems are excellent for removing that excess humidity and preventing these issues. Consider having humidity controlled switches that activate when its sensor detects increased moisture.

Save on labor by doing some work yourself!

Be sure to discuss this with your contactor upfront to avoid possible misunderstandings.