When it comes to property value a bad bathroom design can be costly. So just how much value does a bathroom add to your home? New research suggests a lot!
Mira Showers commissioned a survey of UK homeowners and prospective buyers to find out. The results show which bathroom renovations and solutions would entice them to offer above the asking price when buying a property, and what would put them off.
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How much value can a bathroom add to your home?
This new insight tells us the real value of investing in a good bathroom design.
The biggest culprit to devalue homes is limited bathroom access. This could reduce offers on your property by up to a staggering £20,000, the survey reveals.
With almost early half, 49 per cent, saying they’d offer an average of £7,000 less than the asking price if the bathroom was only accessible via the kitchen. With a fifth citing they’d offer even less than that, somewhere between £10,001 and £20,000, if this was the case. This layout is most common with older style properties or terraced houses.
What bathroom features add value?
Over three quarters of buyers say they’d offer more on a house if the property offered an en suite bathroom. Saying they’d pay more for the privilege, to save putting one in.
So adding an en suite to your property could potentially increase prospective buyers’ offer value by an average of £4,000.
A third of respondents said they’d prefer to buy a house with more bathrooms, over more bedrooms. With 3 in 4 saying they would pay more for a property if its bathroom was modernised or refurbished very recently.
‘Nine out of ten times, it helps the sale of the property if you have a modern bathroom, opposed to an old fashioned one’ claims Tom Greenacre, Divisional Sales Director at Purple Bricks.
The recent survey asked over 1,000 UK homeowners and prospective buyers.
The post This bathroom feature could reduce the value of your home by up to £20,000 appeared first on Ideal Home.