Jennifer Berry

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How a Spa-Like Bathroom Improves Real Estate Value

 

In this day and age, it seems like the bigger the better, and that goes for real estate as well.

Home improvement has become a huge enterprise in the recent years, with channels like HGTV

drawing in viewers. With that being said, spa-like bathrooms have become more popular with

the recent growth of interest. There is an added bonus to spa styled bathrooms, in addition to

relaxation and bliss, the fact is that it actually improves the real estate value of your home. By

remodeling your bathroom to look and feel like you are at a luxurious spa, you would also be

selling that luxurious spa to the next buyer that can earn you back more than you actually

invested in the first place.

 

To begin, let’s look at what aspects of the spa can actually influence the value of the bathroom.

According to Page-Pryde Properties, there are four specific trends that can affect the results.

And those are: the free-standing tub, a tranquil color palette, good lighting, and advanced

technological amenities. Elle Décor also suggests evoking all your senses with candles and art

that can help relax you. Ultimately, there are a lot of different things to get the ultimate spa-

styled bathroom. In the following paragraphs you will see examples and possibilities of what

you can do.

 

The end-goal is to create a relaxing experience, and a free standing tub is the first major

improvement you can make to get that. Jean-Jacques L’Henaff, vice president of design for

American Standard, told Page-Pryde, “Adding a freestanding tub is a cost effective way to evoke

a spa-like atmosphere in any bathroom, and it’s one that really helps elevate the user’s overall

experience”. You should take a look at the shower as well, since a rainfall showerhead is the

epitome of luxurious and feels like you are actually in the rain when you close your eyes. Towels

are also surprisingly effective to the feel of the room – and by that I mean, the fluffier, the

better.

A calm color palette in the spa typically consists of earth tones and should be taken into

consideration when remodeling. It is a simple yet effective way to emit a calming atmosphere.

Above-the- mirror lights can help with the application of makeup and the quality of a close

shave, while soft lights can provide a soothing ambiance. Having extra amenities can boost your

value as well. This can be things like waterproof TVs, heaters, and accessories. The presentation

of things like body scrubs and special soaps on your counter can play a big role in creating the

spa-styled bathroom. Tiles are also a huge “Yes” when considering a remodel. Tiles give off the

illusion of allure and wealth, and you can use them on the floor, on the wall, and in the shower.

Plus, they are easy to clean.

 

When you remodel your bathroom, on average you can earn back up to 70% of your

investment when the home is sold 5 years after the initial remodeling, according to the 2015

study done by Remodeling. It is said that the bathroom plays a huge role in a buyer’s decision.

And what’s more attractive than a bathroom with luxurious, at-home spa features. According to

HGTV, faucets are an important aspect of the bathroom, along with the countertops and the

shower. They looked at Remodeling’s study from 2004, where a $9,400-bathroom remodel

recouped at 182%. The seller actually made a great profit off their investment.

Remember, the bathroom is the room in the house that goes through the most wear. The

bathroom and the kitchen are comparatively the two most looked at and considered areas of a

house. Buyers will see the house as expensive and in good quality if these two rooms are

managed and decorated well. This is because these rooms are arguably the most used rooms in

the house, and therefore the most seen by others.

 

Thank you to Sam Socorro who wrote this article. Sam is a guest author from Sensual Spas and

is a respected and expert voice in a plethora of health related subjects with over 10 years of

writing under her belt

 

Canadian Housing Market Outlook for 2013 

 

The Canadian real estate market demonstrated remarkable resilience in 2012 with home sales up or on par in 65% of major centres despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013, according to a study released today by a leading real estate franchise in Canada.

The study that examined trends and developments in 26 major markets across the country expects national sales to hold steady in 2013, while prices will be 1.0% higher. Stability is forecast to characterize Canadian real estate in the new year, with sales above or on par with 2012 levels in 81% (21/26) of markets.

Nationally, Canadian home sales are expected to almost mirror the 2012 performance in 2013 holding steady at 454,000 units. The average price of a Canadian home is expected to appreciate nominally in 2013, rising to $366,500, 1.0% above year-end 2012 levels.

Canada's housing market, which roared higher in 2011 and the first half of 2012, started to slow after the government tightened rules on mortgage lending in a bid to cool the market and prevent home buyers from taking on too much debt.

 

Despite all the negativity surrounding residential real estate, the sky is not falling, says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reigning in their spending, heeding cautionary statements by the country's financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.

 

The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By mid-year, however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing home ownership beyond the grasp of many first-time buyers.

 

The report also identified several regional disparities. Most notable was the pull back in sales activity in Greater Vancouver. A banner 2011 year and a slowdown in investor activity contributed to the trend in 2012. Yet, moderation was more widespread in the east, with half of Ontario and Atlantic Canada markets (8/16) reporting 2012 sales off the 2011 pace. Strength was evident throughout Saskatchewan, Alberta, and Nova Scotia, where exceptionally sound economic fundamentals drove demand. The Prairies also stood out in price appreciation, along with the Atlantic Provinces in 2012, and a repeat is on tap for next year. In 2013, Vancouver will rebound to post the strongest sales gain, while Quebec markets post the sharpest decrease.

 

Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013. Canada's economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment. Last, but certainly not least, there's no denying the universal appeal of bricks and mortar. Canadians believe in home ownership. The stability of real estate over the long-term continues to fuel its appeal.

 

While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canada's largest markets with move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12%), Calgary (10%), Halifax (5%), Kingston (4.5%) and Saint John (4%). The strongest upward momentum in average price in 2013 is forecast for St. John's (6%), Regina (5%), Kingston (4.5%), and Halifax (4%), followed by Fredericton and Winnipeg (3%). More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.

 

The long-term outlook for the Canadian real estate remains strong. It has proven so in the past, and it will ring true in the years to come. Canada's major centres are evolving at a tremendous pace and gaining traction on the world stage. As we look forward, our communities will certainly be more vibrant, more sustainable, while our housing mix focuses on density and diversification.

Immigration and population growth will continue to support housing demand moving forward. The Canadian government's commitment to immigration will hold steady, with the country set to welcome as many as 265,000 immigrants in 2013. The greater focus on economic immigrants is already leading to quicker household formation and home ownership than in years past. These two factors will also support the burgeoning condominium segment along with Canada's aging population while the desire for tangible assets props up the upper-end.

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I have sold a property at 201 7580 MINORU BLVD in Richmond.
Live LARGE in this spacious 1 bed 1 bath that is over 800 sq ft! It's ideal location is perfect for the first time home buyer or retiree. Relax in your living room,with crown moulding, and warm up next to your gorgeous slate natural gas fireplace. Even the bathroom is grand with his and her sinks. A fresh coat of paint gives the home a warm feel. With in-suite laundry and separate storage room this unit can't be beat. Convenience is key as you are close to Richmond Centre for Shopping, the Canada line for transit and both the Minoru Aquatic Centre and Minoru Arena for Recreation. Pro-active strata keeps the building well maintained and when it's time to have guests, there is ample visitors parking for all your friends and family.
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