real estate

Home renovation: 6 worst fixes for the money

No. 4: Bathroom renovation
Bathroom renovation © Shutterstock.com

No. 4: Bathroom renovation

Typical cost: $26,000; 58% recouped at resale

Buyers love bathrooms -- the more modern and luxurious, the better.

But while a sumptuous bath may spur a browser to buy, it probably won't garner 100% of what you spend on it. A more realistic estimate: a little more than half, according to the NARI/NAR report.

"It's like a car," says Laricy. "When you roll a car off the lot, it's never worth as much" as you paid, he adds.

And while you don't want to renovate just to sell, keeping the house up-to-date as you live there will pay off at resale time.

"A dated master bathroom will sit on the market through several price cuts," says Laricy. But updating it could cost you up to $35,000 to $40,000, he says.

So if you really want to squeeze the most out of your money, give yourself plenty of years to enjoy that remodel before you cash out at resale, Knoll says.

It's also vital that renovations fit the house -- and the price range. You wouldn't put that $40,000 bathroom remodel "on a house that sells for $100,000," Laricy says.

When it comes to resale value, add a high-end, luxury master bath "if you have a high-end, luxury property," he says.

Data source: "2015 Remodeling Impact Report" by the National Association of the Remodeling Industry and the National Association of Realtors

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