Bath Remodeling Facts
How Big is the Demand for Bathroom Remodels?
Bath Tune-Up is a high-demand, in an enormous market, with the bathroom remodel industry valued at $70.4 billion (NKBA). Bath remodels remain one of the highest-ranked investments among all home improvements.
Increased Home Value
According to Remodeling, on average, homeowners spend just over $20,000 on a midrange bathroom renovation project, and nearly $65,000 on an upscale bathroom renovation project. At resale, midrange renovations recoup 67.2% of their costs, while upscale renovations recoup 60.2%.
Bathrooms have always been a popular remodeling choice - and it saw a 40% jump in demand (2019-2020).
- Two in five renovating homeowners report using their bathroom to rest and relax (41%).
- The bathtub and shower are equally important features, with 55% of renovators saying soaking in the tub helps them to relax and 54% enjoying long showers.
An old and outdated space is by far the top annoyance prior to a master bathroom renovation (69%).
- Functional limitations are the next major pet peeves, including insufficient storage (34%), a small shower (34%), and limited counter space (25%).
- Light is of key importance to homeowners who are renovating bathrooms, with 29% citing insufficient lighting as one of their major pet peeves and 10% saying a lack of natural light irked them.
- After the renovations, more than half of homeowners say they spend more time in the bathroom.
According to NKBA, households indicate that improving the home’s aesthetics are the main motivators for remodels in the bathroom (16%) followed by maximizing quality and durability and increasing the value of the home.
Homeowners completing budget-friendly bathroom remodels focused on updating cabinets (52% of projects) and plumbing (43% of projects).
The main reasons for a remodel are:
- Wanted for a while and now have the means (39%)
- Can no longer stand the old bathroom (33%)
- Old bathroom deteriorated or broke down (31%)
- Want to personalize a recently purchased home (25%)
- Recently inspired to make certain changes (12%)
*Statista - 2020