Free Resource - A guide to adding value through your bathroom

Discussion in 'Increasing the value of your property' started by totallyproperty, Apr 6, 2016.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    Investing in a new bathroom suite

    When you buy a new property the likelihood is that you have bought it because you can put your own stamp on it. Very few people are able to find a property which perfectly suits their needs without introducing some of their own styles, themes and ambience. One area which often receives significant attention is the bathroom where tastes and requirements can vary markedly. So, is it time to invest in a new bathroom suite?

    What are you trying to achieve?

    Whether you are living in the property yourself, looking to rent or sell you need to focus on the endgame. What are you looking to achieve with a new bathroom suite? What kind of budget do you have to utilise? Will this add to the value and attractions of the property?

    You can only really decide whether you need to invest in a new bathroom suite once you have clarified your endgame/target.

    Modern or traditional

    There is enormous competition in the bathroom suite market and as a consequence there can be some great bargains if you shop about. The two main trends are traditional bathroom suites and modern technology-based facilities. It will depend upon your target market, the local area and your budget as to which route you go down. One thing you will learn, the variation on facilities, prices and installation fees can be enormous. Shop around and ensure that you have your bargaining head on.

    It is also worth noting that the greater your chosen design theme moves away from “mass-market appeal” the more limited your potential investment / tenant pool could be. If you are only appealing to a certain niche market then this could exclude potential buyers looking for different themes and styles.

    Ensuite bathrooms

    The last few years has also seen a trend towards more ensuite bathrooms offering privacy in those homes where there is sufficient space. This is particularly true in HMO properties where squeezing as many separate bathroom facilities into one property is a bonus. Modern space-saving designs come into their own here, but don’t forget that when catering for a rental market, wear and tear is inevitable so don’t allow your personal tastes to supersede the need to stick to a budget.

    In a traditional buy-to-let or a property you are renovating for resale, there is no doubt that an ensuite bathroom can positively impact the value of your property but can your finances stretch that far? Are you targeting the business market or are you looking towards the family arena? Feedback from estate agent shows that ensuite bathrooms are a great selling point if you are looking to rent/sell your property and are certainly something you should consider if appropriate and affordable.

    Installing your new bathroom

    When you have decided what you want to do, your target market and you have acquired your bathroom suite the next challenge is installing it. There is certainly great benefit in shopping around for installers and obtaining a number of quotes to negotiate the best deal. The fact is that the first quote you receive from an installation company is very often negotiable depending upon how hard you want to push it. As with any other property enhancements you need to ensure you are balancing quality with cost because at the end of the day in many ways you get what you pay for.

    Where relevant there is also the opportunity for you to do some of the work to reduce the overall bill but you do need to be careful you are not stepping into the unknown. Time and time again we see examples of people attempting tasks in which they have relatively little experience and it does not always go to plan. In many ways it pays to bring in the experts, to negotiate a good price but to ensure that it is finished on time. Play to your strengths and use third parties to fill any skills gaps, this is the best piece of advice anyone could give you.
     
  2. nmb

    nmb Well-Known Member

    Whether you're looking to replace an old bathroom suite in your property or some other form of refurbishment you need to think twice before going ahead. Many people fall into the trap of carrying out refurbishments for the sake of it when there may be simpler and cheaper alternatives. It is also imperative that you look at what style of bathroom is popular in the area especially if you're looking to sell in the short term and bank a profit.

    There will be times when you need to invest in a refurb but you should investigate all other options as well.
     
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