The latest research from Yopa has revealed just how much more buyers are willing to pay for a property that comes complete with the benefit of an additional bathroom.
When it comes to house hunting, the primary concern for most homebuyers is the number of bedrooms a property boasts. However, it’s fair to say that bathrooms comes a close second as perhaps the most essential feature a home requires.
However, those looking to secure some additional bathroom space will need to seriously up their budget, as research from Yopa shows that the average asking price difference between a one bathroom and two bathroom property alone comes in at £135,000.
The difference in asking price between a two bathroom and a three bathroom property is even greater at £400,000! And, of course, this cost continues to rise the more bathrooms a property boasts.
COST EFFECTIVE
However, there are some more cost effective ways to secure more bathroom space.
An ensuite is one way to secure an additional bathroom on a budget and whilst a property boasting such a benefit does command a premium of 4.8%, this equates to just shy of £15,000 in the current market, which is far more manageable than the cost of a whole additional bathroom.
ENSUITE
Of course, an ensuite will cost you more depending on where you’re looking to buy, with this house price premium running from £25,498 in London to £7,970 in the North East.
But whilst an ensuite may make for a desirable addition to a home, it’s the added bonus of a downstairs toilet that carries more value.
A downstairs toilet is estimated to add 5% to the value of a home, but even still, it means homebuyers can secure that extra slice of bathroom space for just under £15,500.
SECURE BATHROOM SPACE
Verona Frankish, Chief Executive of Yopa, says: “Access to a clean and secure bathroom space is something that we all take for granted but it’s easy to appreciate why an additional bathroom or toilet can be so sought after, particularly amongst larger households all working to similar schedules.”
PURCHASING POWER
She adds: “Unfortunately, the purchasing power required to secure an additional bathroom is sizable compared to homes with just one bathroom, but an ensuite or downstairs toilet can make for a great compromise between cost and functionality.”
