Have you been considering a partial renovation of your bathroom?
Before you make your final decision consider the following fact.
A partial bathroom renovation may actually devalue your property.
Why? The life span of a partially renovated bathroom cannot be guaranteed. Bathrooms constructed before 2004 weren’t subject to the stringent standards of waterproofing and construction that are in place today. Most bathrooms older than 4 years, therefore, are likely to have potential waterproofing problems.
If you were to invest $8000 today in a partial renovation and discover in ten year’s time that your bathroom has major water damage, the cost to you would be $800 a year (about $16 a week). And these figures, of course, don’t take into account the inflated costs of repairing and redoing the bathroom.
“People look at bathrooms more than kitchens these days. It is important do it properly. Substituting inferior finishes … is a mistake”.
Rose-Marie Hiller, Interior Design Editor,
House and Garden |
On the other hand, a complete bathroom renovation can significantly increase the value of your property.
| A well-designed bathroom renovation is an excellent investment because it will: |
- Increase your property value instantly.
- Bring high capital gains in the future.
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If you were to invest $15 000 on a well-built bathroom with a 20-year life span, your net capital outlay would be $14.40 a week. During that time, however, your property would be subject to considerable capital appreciation. (Statistics show that average Australian house, close to a capital city, actually doubles in value every 7 to 10 years).
You can see from these figures that the most affordable time to get a complete bathroom renovation is now …
Building costs continue to rise every year, and statistics show that they will continue to rise for some time. Even waiting for just 12 months to do your bathroom renovation, could cost you in the vicinity of $2250. |
