House prices: 10% of Brits would pay £10k+ for an extra bathroom

As house prices continue to soar, one of the most sought after features is an extra bathroom, or two. According to new research by The Bathroom Showroom, 86% of house hunters would pay more for an extra bathroom – an average of £3,580. A second bathroom is a priority worth an extra £10,000 for one in 10 people.

The Bathroom Showroom’s survey demonstrates that the number of bathrooms is affecting house prices this year. It also reveals that some buyers are looking for a little more than bog-standard facilities.

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How much difference does an extra bathroom make to house prices?

Understandably, more than one bathroom is desirable for larger families. Therefore, the number of occupants in a home makes a difference. A two-person household would pay just £2,700 extra per bathroom. A household of six or more would happily pay £10,000.

This indicates that creating an extra bathroom in a two-bedroom property may not necessarily increase the value of the house beyond the cost of installation. However, investing in an extra bathroom for a large family house could allow sellers to increase the price of their home enough to more than cover the cost.

The Bathroom Showroom asked Peter Elson of the Tamworth branch of YOPA Estate Agents about the extra bathroom effect on house prices. Mr Elson claims that “You can add up to 5% value to your property by adding a second bathroom, more so even in the current market.”

This depends on the age and gender of the buyer. The survey respondents signposted that additional bathrooms are more popular with younger people, and males.

Peter Elson also advised that “An en-suite is no longer a luxury – it’s a must-have. And a four-bedroom home should have a minimum of two bathrooms, ideally three.”

For house hunters looking for lower house prices, a one-bathroom property could be a bargain.

Do en-suite bathrooms increase house prices?

An en-suite bathroom in the master bedroom is the most sought after addition. For 42% of house hunters, this is a ‘key requirement’. This suggests that homes without a master en-suite are missing something almost half of house hunters expect.

Many UK residents are living in older houses that were built without bathrooms at all, having an outside toilet instead. Creating an en-suite and other additional bathrooms can put pressure on storage space and the size and number of bedrooms. Therefore, extra bathroom space is not a straight swap with regard to house prices.

Think carefully before sacrificing too much bedroom space to make an additional bathroom. Losing a bedroom could lower the value of a house more than adding a bathroom would raise it.

Comparing properties on Rightmove can demonstrate the difference in price between a two- or three-bedroom home in your area, with or without additional bathrooms. Inadequate storage space can also influence house prices.

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Can updating your bathroom increase the value of your home?

The Bathroom Showroom survey picked out a number of popular bathroom features that can attract home buyers and raise house prices.

As many as 43% of 18-44-year-olds prefer a separate bath and shower. This is the second most popular requirement after an en-suite in the master bedroom. One-third of people would pay more for a walk-in shower.

A smaller percentage of people would be prepared to pay extra for:

Underfloor heating (23%)
A TV in the bathroom (12%)
A jacuzzi-style or freestanding bath (20%)
An electric smart toilet (10%)
A bidet (10% of men, 5% of women)

The majority of buyers wouldn’t pay more for his and hers sinks, or an en-suite in the guest room.

Therefore, with an eye on both houses prices and your budget, think before using a credit card to buy fancy bathroom additions.

Can the wrong bathrooms lower house prices?

What kinds of bathrooms are a liability when selling your home? Perhaps there are some improvements you can make to existing bathrooms before splashing out on an extra one.

A bathroom that has not been updated in a number of years could be a turn off for buyers. An agent will factor in the cost of any updating in their valuation. Some buyers may choose to purchase at a lower price, then use savings to install their ideal bathroom.

While additional bathroom facilities downstairs may add value, if the only bathroom is on the ground floor, this can be a negative. Bathrooms that are only accessed via the kitchen are still seen in some older properties that have not been refurbished.

If, as a buyer, you can put up with a less than desirable bathroom arrangement, you could purchase your home for less.

The post House prices: 10% of Brits would pay £10k+ for an extra bathroom appeared first on The Motley Fool UK.

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