Can you increase your home’s value with a bathroom renovation? It is well known in the real estate industry that kitchens and baths sell a home. Homebuyers are looking for homes that need little updating to suit their decorating tastes. A bathroom renovation will indeed increase the value of your home. 

Appraisers will consider the condition of the bathrooms when they are valuing the home for the lender. Normal wear and tear is more evident in the bathroom of the home. Moisture is a contributing cause of the wear and tear in the bathroom due to the use of hot water. 

Let’s look at some reasons you may choose to remodel your bathroom.

• Safety is always the number one reason to do any home repair or renovation. For example, if your bathroom has slippery or cracked tiles, water damage, mold, damaged wallboards, or water leaks, you will want to make corrections.
• Updating an outdated bathroom can not only be for aesthetic purposes but also for energy efficiency. The bath may have been a state-of-the-art masterpiece when installed, but modern fixtures and building materials can make a big difference in energy savings.
• Additional storage is another reason to update a bathroom. A pedestal sink may look beautiful, but it does not provide any storage for personal care products. If you live in a small space, you may need to utilize any available space to create storage.
• Changing family needs can be a good reason to invest in a bathroom renovation. For instance, if your family grew over the years, you might need to adjust to accommodate more family members, such as a double vanity instead of a single vanity. If you have aging family members, you may need to update to a walk-in shower, add a bench in an existing shower or upgrade to a comfort height toilet.
• Plumbing issues could also be a cause for a bathroom renovation. Plumbing fixtures and pipes can deteriorate over time and need to be upgraded.
• Your current bathroom may not suit your style. Even if you built the home yourself, your decorating tastes could change over time. If you purchased the house, you inherited someone else’s style. Now could be the time to create the bathroom of your dreams.
• Your bathroom is the most used room in your home. Create a safe and comfortable space for you and your household members to enjoy daily.

What should you consider before remodeling your bathroom?

• Create a realistic budget. Decide how much money you have to spend on your bathroom renovation. Then, determine what you will be able to do with that budget. Don’t forget to factor in the cost of labor you may need to hire.
• Determine how long the project will take. If you are using contractors, understand how much time will be needed to complete the job.
• Create a plan for bathroom use while under construction. Do you have another bathroom you can use in the home? If not, discuss with your contractor what you will and will not be able to use during construction and create a plan for showering and toilet usage.
• Change what wasn’t working in the existing bath. Now is the time to change what wasn’t working for you. Specifically, do you need more storage, a more oversized countertop, etc.?
• Determine the overall look you would like. Then, gather design ideas to create the type of bath you desire. There are plenty of online sites like Houzz where you get ideas for your new bath design.
• Take time to coordinate the fixtures. Whether you will do a budget or a luxury update, coordinating the fixtures will make a significant difference in the finished product.
• Decide on the finishes you’d prefer. Many decisions will need to be made like tile, walls, floors, faucets, towel bars, and more to create a cohesive look.
• The type of lighting. There is a variety of lighting options, from budget to high-end. First, consider the purpose of the lighting. For instance, if you apply your makeup in the bathroom, you will want bright task lighting.

Types of Bathroom Renovations

The remodeling industry breaks down bathroom renovations into categories—mid-range, upscale and universal design.

A mid-range bathroom renovation includes:

• Ceramic tile flooring
• Standard white toilet
• Solid surface vanity
• Medicine cabinet with light
• Tub with ceramic tile shower surround
• Cost approximately $20,000

An upscale bathroom renovation includes:

• In-floor heating
• Heated towel bars
• Recessed shower cubby for products
• Body spray fixtures
• Frameless shower doors
• Freestanding bathtub
• Commode closet
• Cost can be up to 3 times that of a standard remodel

A universal designed bathroom renovation includes:

• Space to accommodate the turning radius of a wheelchair
• Zero step entry shower
• Slip-resistant floors
• Hand-held shower head
• Shower seat
• Grab bars
• Comfort height toilets
• Roll under sinks to accommodate wheelchairs
• Costs can run $30,000 to $40,000

You can always do a budget remodel as well. Be careful that you purchase quality products, however. Subpar products can cost you more in the long run if you have to replace them sooner.

Remodeling Magazine estimates that midrange bathroom remodels in the Middle Atlantic region of the US will generate a 57.4 return on your investment. A universally designed bathroom accommodates the needs of people of any ability, height, or age, whether they are seated, standing, or using a wheelchair. You may recognize a 58.2% return for a universally designed bathroom. And an upscale bathroom remodel will yield a 53% return.

How can you save expenses on your bathroom renovation?

• Don’t move the plumbing. The cost to move a sink, tub, or toilet can get expensive. Relocating these fixtures can cost upwards of $5,000 each.
• Frame a builder-grade wall mirror to update the look. Not replacing that massive wall mirror will save you money, but you can update it with a simple frame. The frame can also hide any wear around the edges that occurs over time.
• Don’t replace all the fixtures. You can make a toilet look better by just replacing the seat and lid. You may consider painting a tub instead of replacing it.
• Check out salvage and resale stores like Habitat For Humanity Restore. They sell new and used items, including building materials. Also, check out Craigslist, Online Marketplaces, and E-bay.
• Utilize materials like board and batten or beadboard instead of tile to save some expense and still achieve a high-end look.
• Use paint to create interest. Utilizing color can bring out aspects of your tile that you have not realized.
• Repurpose cabinetry. A fresh coat of paint or refinishing cabinets can cut down on the expense of your renovation. In addition, you can upgrade the countertops to make an impact.

Whether you are doing a budget renovation or a high-end renovation, you need to plan your budget and allow for a contingency carefully. You never know what you will find when you start tearing things apart. Unexpected expenses can occur even with the most thoroughly thought-through plans.

If you were to over-improve your bathroom, you might not recognize the return on investment you expect. You may be surprised to know it is possible to over-improve your home. Check out this previous blog post to read more about it.

Once your bathroom renovation is complete, you can enjoy the rewards of your efforts. But, of course, enjoying a soak in the tub or a steamy shower will probably be first on your list after all the hard work is complete.

If you are hiring contractors to do the job, check their references before signing a contract. You can also check to see if the contractor is licensed here at the New York State Attorney General’s website.

Contact me, Charles D’Alessandro, your Brooklyn Real Estate Agent with Fillmore Real Estate. As a Brooklyn real estate agent with over 30 years of experience, I have seen many good and bad bathroom renovations. I’d be happy to discuss your plans to prevent over-improving for your neighborhood.  I can be reached by phone at (718) 253-9500 ext. 1901 or by email at [email protected].

Brooklyn homebuyers will need to obtain a homeowner’s insurance policy when they purchase their new home.

There are two reasons you will need to purchase a policy.

1. To protect your possessions.
2. To satisfy the mortgage lender’s requirements.

If you are financing your home with a mortgage, the lender will require a one-year prepaid homeowner’s policy to be in place before you can close on the house. Most lenders will require the insurance company to list the lender on the policy. In addition, lenders require dwelling and liability coverage on the home at 100% replacement value. This requirement protects the lender from loss should something catastrophic happen to your home.

The coverage required by the lender is not the only insurance you should have on your home. In addition to dwelling and liability coverage, you should also consider:

1. Other structures that are not attached to the home including detached garages, sheds, fences, and guest houses.
2. Personal property coverage will reimburse you for replacing your possessions like furniture, electronics, appliances, and clothing.
3. If you cannot live in your home due to damage, you may receive payment for the cost of living expenses while your home is renovated.
4. In addition to the liability, the insurance company will cover the medical bills of someone hurt on your property.

There are also different types of homeowner’s policies. The kind of policy you need will depend on the type of home you purchase and the level of coverage you desire. Here is a thorough outline of the different policies in this post from Bankrate.

Brooklyn homebuyers will need to choose a deductible.

A deductible is the amount of money you will pay out of pocket before the insurance coverage will take over. A higher deductible usually results in a lower premium. You will pay the deductible on each claim you submit to your insurance company.

Homeowner’s insurance will not cover natural disasters, “Acts of God,” or acts of war. However, you can obtain additional insurance policies like flood insurance, mine subsidence, and windstorm insurance policies. 

Some other additional types of coverage Brooklyn homebuyers choose to add to their homeowner’s policy are drain and sewer line coverage, identity theft, and business property coverage for a home-based business.

You may need a rider policy that extends the coverage of your standard policy. You should check with your insurance agent and review the coverage you have periodically.

Several factors determine the premium you pay. You should shop several different insurance providers because the rates may vary depending on the company. The amount of coverage and various rider policies will also affect your price.

The following factors will affect your total cost:

1. The amount it would take to replace your home is a significant factor. The actual amount it would take to rebuild your home determines the replacement cost. The cost to replace can vary depending on several factors, including the cost of materials and any improvements you have made to the home.
2. If your home is brick or frame can also affect the amount of your premium. Brick homes generally have a lower premium.
3. The proximity to fire hydrants and the fire department may factor into your premium. 
4. The age and condition of the house are also factors to consider. Costs are generally higher the older the home. 
5. A surprising factor to Brooklyn homebuyers is the history of claims from previous homeowners and the history of claims in the area.
6. The type of coverage you choose will affect the amount you pay.
7. The higher the deductible you select will lower the premium price.
8. Many Brooklyn homebuyers do not realize you can reduce your costs if you use the same insurer for your home and auto policies.
9. Some insurers will consider the length of time you have been a policyholder with their company.
10. Your credit score may also affect the cost of your insurance policy.
11. If you have filed claims on previous insurance policies, this may be a factor in pricing your new homeowner’s policy.
12. You may lower the cost of your insurance by having safety features in your home like security devices and sprinkler systems.
13. Another factor that can affect pricing is a wood stove, furnace, or fireplace.
14. Recreational features like a pool, trampoline, or play equipment may also increase your premium due to the potential for injury.
15. The type and breed of pet you have can affect your insurability
16. Operating a business from your home can also increase the costs of your home insurance policy.

Before purchasing a home, you may want to research the home’s history based on the C.L.U.E. report (Comprehensive Loss Underwriting Exchange). This report will show you the record of claims against the property.

Cancellation of a homeowner’s policy or non-renewal by the insurance company can occur for several reasons.

1. Failure to pay your premium. 
2. Fraud or misrepresentation occurred when obtaining the policy.
3. Changes occur in the property that deems it uninsurable.

Brooklyn homebuyers should understand that the number of claims you make on the property can also determine having your insurer renew your policy. Some insurance companies restrict the number of claims you can make in a given period. You will need to check with your insurer to understand their rules. Consider making minor repairs out of pocket and not filing a claim.

What can a homeowner do to reduce the expense of their homeowner’s insurance? 

1. As mentioned before, costs may vary from insurer to insurer. Compare several different companies before deciding on your provider.
2. Choose a higher deductible to lower your premium. A higher deductible will cost you more out of pocket for a claim but will save you on your annual premium.
3. Using the same insurer for your home and auto policy can be a cost saver.
4. Improving your home security can save money. 
5. Maintain a good credit history. You should check your credit score regularly and correct any mistakes you may find.
6. Review your policy annually and adjust for any changes. For example, improvements to the home and the value of your personal possessions may call for adjustments to your policy.
7. Maintain your home. Preventative maintenance on your home can save you in the long run for many reasons, including your homeowner’s insurance claims. 

Don’t confuse your homeowner’s insurance with a home warranty.

A Brooklyn homebuyer may receive a home warranty when they purchase their home. This policy will cover appliances and systems of the house. The home warranty will also have a deductible that the homeowner must pay. A home warranty will not cover you for fire, smoke,  theft, weather damage, or fallen trees. 

If you do need to file a homeowner’s insurance claim, contact your insurance agent. It is important to note that you should make efforts to protect your home from further damage. For instance, you may need to clean up backed-up water or board up the house from damage. A claims adjuster will work with you to evaluate the damage to the property. If you have any issues or questions about your insurance claim, you can contact the New York State Department of Financial Services.

It is essential to understand your coverage under your homeowner’s insurance policy. Consult with your insurance agent to ensure you have the right coverage for your needs at the best cost possible.

It is vital to maintain adequate insurance throughout your ownership of your home. Hopefully, you will never have to make a significant claim, but you will have the peace of mind that comes with knowing you can face any potential issues.

If you are considering becoming a Brooklyn homebuyer, you may want to check out this previous blog post to familiarize yourself with the homebuying process.

Contact me, Charles D’Alessandro, your Brooklyn Real Estate Agent with Fillmore Real Estate. As a Brooklyn real estate agent with over 30 years of experience, I can help you through the homebuying process. I can be reached by phone at (718) 253-9500 ext. 1901 or by email at [email protected].