Budgeting For Your Bathroom Remodel

Ready to remodel your bathroom, but not sure it’s in your budget? Whether you need more space for your newly-teenaged daughter or a less-dingy, more-modern space, you can prepare for it. In 2005, Remodeling Magazine reported that a mid-range bathroom remodel cost roughly $10,500, depending on where you live. To keep from breaking the bank, start by thinking about what you want done, right from the beginning.

Create Plans

When remodeling a bathroom, it’s possible to spend more than $25,000 for a luxury bathroom. If that’s not in the plans, that’s a problem. Choose what you want done early on. An expansion or an add-on is going to fall into the $25,000 range, while updating appliances and colors and wallpaper will be closer to the $10,000. Labor alone will cost about a third of the project.

Discuss your budget with your partner and determine what you could realistically afford. If you intend to sell soon, consider talking to a realtor to find out what kind of changes will help you recoup the most of your investment. If you plan to be there for five years or more, look to your family’s needs, first. With that in mind, ask:

  • Which items need to be replaced
  • What changes you want made
  • If anything needs to be updated
  • If you want to update the paint or wallpaper
  • If the bathroom needs more space

Prioritize everything. If your bathroom is small and doesn’t have a lot of space, a closet might be your primary concern. If you have a bathtub and want a shower, that might be most important. Does the flooring need to replaced?

Even if you plan to do a lot of the work yourself, there are some things you absolutely need to call in a professional for: like plumbing and electricity. Make sure to pad the plumbing budget: you never know what issues you might be looking at, once your wall is opened up.

Where Should It Go?

Will you be moving things around or keeping them in the same location. Generally, it costs less to keep things where they were previously located because you don’t have to pay for extra piping. However, if you want to maximize space, that might not be an option.

Select Big Ticket Items Early On

Toilets, sinks and tubs are costly. Choose one fixture you want to “splurge” on, and balance the rest by getting the standard, but still good-quality options for everything else. This includes tile. Once you start getting into tub mosaics, the cost can add up quickly. that doesn’t mean you can’t do it, just that you need to pay attention and possibly consider a less-expensive option.

Use Your Budget As a Tool

Keep your budget readily available as you purchase things. If you see that buying two expensive fixtures will eat up the costs of labor and other small things, you’re less likely to approve the splurges, which will keep you on track.

Factor in Time

Anytime remodels are underway, it’s more than just a money issue. Time is costly, even if it doesn’t affect your bottom line. Doing it yourself can take months, and you’ll still need to experts for certain things. Can you lose a bathroom for that long? If not, call in the experts and finish in a week.

If your bathroom needs a facelift, creating a realistic budget is the first step. Having an open mind is the second. Work with your partner to determine the best way to make your bathroom best for your family – and a good investment for the future.

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