A bathroom remodel can enhance the look and feel of your home and provide aesthetic and functional enhancements. Many homeowners will consider a bathroom remodel at some point because this room can start to look dated due to daily use and the ever-changing styles of tile, countertops, cabinets and even bathtubs.
Our expectations for bathrooms can also change over time. For example, what once needed to be a room with a large countertop for multiple children to use could one day become a restful sanctuary with a Jacuzzi tub, Bluetooth speakers and relaxing lighting. An updated bathroom can also be a significant selling point for a home. No matter the reason for your bathroom remodel, it is important to understand the cost associated with this type of project before you get started.
What's the Price Tag?
The cost of a bathroom remodel can vary drastically. Angie's List cited the average bathroom remodel cost at about $11,364, while Money magazine listed a price range of $3,000 to more than $100,000 depending on if you go the DIY or high-end route. Factors that affect the cost include the size of the bathroom, the items that will be replaced (e.g., the vanity, bathtub or toilet) and the quality of upgrades.
Consider the Size
In general, a remodel of a larger bathroom will cost more than a remodel of a smaller bathroom. Construction items like tile and other specialty flooring is priced per square foot. So the more square footage you have, the more expensive it will be to replace. Also, tubs, showers, countertops and vanities tend to go up in price as they go up in size.
Deluxe or luxury brands can come at a much higher price tag than standard brands found at your home improvement store like Home Depot and Lowe's. Consider the quality of the items and don't assume that more expensive means better. Compare items across brands, view them in person and consult with experts. Make investments in items that are most important to you. Do you love baths? Splurge on an upgraded tub. Do you prefer showers? Use your money for a steam option.
If you're thinking about a bathroom remodel project, start with an idea/wish list as well as a clear understanding of your budget. Once you know which items you'd like replaced, you can get an idea for the cost by searching for products online, visiting home improvement stores or having a professional come to your house to provide an estimate. Most remodeling companies will provide estimates free of charge.
If your budget doesn't fit with your ideal bathroom needs, you still have options like doing small projects over time or setting a savings goal to reach before you start the project. You can also consider financing your home improvement project with a Home Equity Loan or Home Equity Line of Credit.
Staying on Track
With any home improvement project, it is important to keep your priorities clear, set realistic goals and stick to your budget. Think about including a 5-10 percent buffer in your budget for unexpected costs or last-minute changes. This way you'll be prepared for whatever may arise and be less stressed. This will allow you to complete the project in a way that is perfect for you.