When it comes to remodeling your home, adding more square footage is a great investment. However, the type of space you add to your home will determine how much its overall value is increased.
If you’re looking for a worthwhile addition, consider adding a laundry room. Laundry rooms increase the value of your home while also providing you with a more practical and functional space.
So what does adding a laundry room entail? And more importantly, how much can you expect to add to the value of your home?
Let’s find out.
The Benefits of Adding a Laundry Room
There are many benefits to adding a laundry room to your home. For starters, homeowners can enjoy having a dedicated area to wash their clothes while freeing up space in the rest of the home for other uses.
Washers and dryers are notoriously noisy and can ruin the peace of the household. No one wants to listen to a washer droning on when they’re trying to relax. Therefore, shutting them away in a room will greatly reduce the noise levels.
A laundry room also helps keep cleaning products and dirty laundry organized and removes the requirement to have laundry bins in communal spaces. With added open shelving or built-in cabinet storage, you can store your detergent, fabric softener, and other cleaning items in an efficient manner.
Can a Laundry Room Addition Add Value to a Property?
The value of your home may increase by a few thousand dollars if you add a laundry room.
However, the amount that a laundry room boosts a home’s value depends on several variables, such as:
- How recently you remodeled;
- How popular laundry rooms are with potential buyers in your neighborhood;
- The size of the room;
- The facilities, including a sink, washer, dryer, and storage;
- The quality of the room and finishes.
In contrast, a laundry room that hasn’t recently been updated and only has room for a washer and dryer won’t do much (if anything) for the overall sale value of the home.
Overall, a laundry room remodeled to a high-quality standard, with a sink and plenty of storage, will expect to recoup between 67% and 91% of the cost.
Do You Need a Laundry Room to Sell a Home?
Your home may sell much more quickly and for a higher price if you add a laundry room.
In fact, 87% of survey participants in a 2021 study of “What Home Buyers Really Want” by the National Association of Home Builders said that a laundry room is necessary. Among survey participants, an exterior light fixture and a laundry room were the two most desirable home features. Additionally, 47% of respondents said they would pass over any homes without a separate laundry room.
The study also sheds light on the kinds of laundry room additions that appeal to prospective buyers the most:
- Almost two-thirds of buyers look for properties with first-floor laundry rooms;
- Laundry rooms far from main living areas for minimal noise disturbance are also preferred;
- Buyers also want a sink and storage space for an ironing board and other cleaning supplies.
What Should You Add to a Laundry Room to Maximize Its Value?
We’ve already established a number of desirable items for a laundry room, but let’s look at them in more detail:
- A sorting and folding area: Having a large surface and even a seating area to sort out laundry is highly advantageous;
- A clear floor space: Clutter is the quickest way to put someone off buying your home, so invest in efficient storage to keep stuff off the floor;
- Built-in storage: Laundry rooms are often small, so custom storage solutions that maximize the space are highly desirable;
- Power outlets: An often overlooked feature. Ensure you install enough power outlets for the appliances. Don’t forget to include outlets for rechargeable items like vacuum cleaners;
- A double sink: A double sink increases the practicality of the space since it allows for different types of clothing to be soaked simultaneously or permits running water while something is soaking.
How Much Does a Laundry Room Remodel Cost?
Most laundry rooms are, on average, around 35 square feet in size. And the average cost for remodeling the space is around $230 per square foot. Therefore, it costs about $8,000 for a laundry room remodel.
However, this cost can vary substantially depending on the amount of work required and the number of additional features you want to install.
For example, if the room requires work on the plumbing system, this will add to the cost. And, if you want to create bespoke storage or add high-end finishes, this will also increase the cost.
It’s not always necessary to go for a full remodel, either. If you already have sufficient space and storage, it may simply be a case of freshening up the space by repainting the walls and replacing one or two fixtures. In this case, the overall cost will be much lower.
Should You Carry Out a Laundry Room Remodel Yourself?
When looking at the price of contractors, it’s often tempting to try and carry out the work yourself. But there are many reasons why you should be cautious of taking the DIY route:
- Plumbing is a highly-qualified skill that should not be attempted by someone without the expertise. In doing so, you risk invalidating your home insurance should anything go wrong;
- Often, DIY jobs don’t result in a flawless, high-quality finish and can therefore lessen the value of the completed project;
- If you make a mistake, it can be expensive to rectify, and you’re liable for the full cost of the repairs
In Conclusion
According to the statistics, a laundry room is a worthwhile investment and addition to your home. It not only adds value to the property but also provides a practical and functional space.
In fact, you may enjoy your new laundry room so much, you may decide not to sell up after all!