Bathrooms, Half-Baths, and Home Values
Earlier this year, I wrote about condo projects where additional parking is more valuable than additional bathrooms. But what about normal situations for standard single family homes?
We all know that kitchens and bathrooms sell homes. According to Realtor.Com, the median price for a single family home with one bathroom is $85/sq ft. An extra full bathroom merits a 15% increase to $107/sq ft. An extra half bathroom adds 10% to $93/sq ft.
Note: Southeastern Wisconsin defines a half bathroom as having a toilet and sink only. A full bathroom has a toilet and sink with a shower, shower-over-tub, shower and tub, or tub alone. A “3/4-bath,” or a toilet, sink, and shower stall, is considered a full bathroom in this area.
But what about upscale properties that already have 5+ bathrooms? Half baths actually greater value than an additional full bath. The median price for a 6.5 bath home is $289/sq ft, or 10% more than a 7.0 bath home!
Why? Part of the reason is because half baths on the main level will see more use than any other bathroom anywhere else on the property. Half baths are often attached to features like sports courts, bars, home theaters, etc. Something also feels missing in large homes without half baths.
Want to discuss the value of your home and the value that can be added by updating or adding bathrooms? Please call or email; I’ll be happy to discuss options, ROI, and ideas with you at your convenience.
Want to learn more? “In Baths, Less can be More” was written by Leigh Kamping-Carder and is a great place to start.