Did you know the average bathroom remodel can set you back around $11,000?
If you’re considering remodeling your bathroom, it might seem like an exciting project to take on. Although remodeling an entire bathroom might seem intimidating, you can get it done with a little planning.
Read on to learn how you can create a bathroom remodel budget.
1. Size of Your Bathroom
To create a proper budget for remodeling your bathroom, you need to take into account the size of your bathroom. You will have a much larger project in your hands if you decide to remodel the master bathroom than a powder room.
Before you settle on a budget, get the measurements of the bathroom you wish to remodel to set the expectation. Chances are you might be able to spend a little more if you only have one bathroom in your house.
2. Keep the Price Range of Your Home in Mind
Before you settle the budget for your bathroom remodeling, you should keep the price of your home in mind. You cannot create an extravagant bathroom if it doesn’t correspond with the total value of your home.
After you include all expenses such as labor, fixtures, and plumbing, you should aim to spend around 5 to 10 percent of the total value of your home. If the current market values your home at $200,000, then keep your budget at no more than $20,000.
3. Answer Key Questions
The next step when planning your bathroom remodeling budget is to answer important questions about the project.
Who will use the space? Chances are you will create a much different bathroom if you want to remodel the kids’ bathroom than the guest bathroom.
What do you need? Think about what you dislike from your current bathroom, to decide what you want to change. Do you want more storage or maybe a shower instead of a bathtub?
Is the size working against you? If you want to add a double vanity, it might not be possible with the necessary square footage.
Do you want to change the layout? Your budget will be a lot less if all you want to do is upgrade the vanity and change the fixtures. However, if you plan to change the layout, then you will require the assistance of a plumber.
How long do you want to live in your home? Your budget will also be different if you want to upgrade the bathroom before selling the home than if you plan to live there longer.
4. Make a Plan and Research
If you don’t have a vision in mind, the best thing you can do is research possible ideas.
You can find lots of ideas by looking at design magazines, doing a Pinterest search, or attend trade shows. Conducting research will also give you an idea of current prices, so you can get a better idea.
5. Things Will Not Go According to Plan
Even if you plan your budget down to the last nail, expect for things to not always go according to plan. For example, if you decide to re-do the layout, you never know what you will find on the other side.
You might find that you will need to replace all of the pipes or mold behind the wall.
For this reason, it’s important you budget for the unexpected.
6. It’s a Numbers Game
This is the time to sit down and be honest about what you can afford. When planning a full remodel, it’s easy to get in over your head and spend more than what you can afford.
As we touched on before, if you plan to stay in your home for less than five years, you might want to make a smaller investment.
During this time, you might also want to start getting quotes from plumbers, bathroom renovation contractors, and designers. The further you break down your budget, the easier it will be for you to make adjustments.
7. Start Window Shopping
While dealing with the plumber might not be the best part, shopping for bathroom items is more enjoyable.
Let’s say you have a designated amount to spend on bathroom items, not including labor, it’s time to start window shopping.
Because the majority of your budget will go toward acquiring these items, you should be as specific as possible. Some of the things you will need to buy include:
- A bathtub
- Plumbing fixtures
- Shower enclosures
- A mirror
- Vanity and sink
- Electric items (switches, plugs, fan, vents, and more)
- Flooring for bathrooms
Part of window shoppings is ensuring you get the best price for each item. During this process, you need to shop online, in-store, and look as custom pieces.
8. Can You DIY?
During a remodeling project, one of the best ways to cut costs is by doing it yourself rather than hiring bathroom renovation contractors. Although it is possible to do it yourself, you need to decide where to draw the line.
While there’s a good chance you can paint the walls yourself, you might not be able to do the plumbing.
Also, you need to consider your level of experience. By nature, some people are handier than others. If you’re not handy, try asking a friend or family member to help you out with the project.
It’s important you leave the heavy lifting to the experts and only do what you’re capable of taking on.
9. All About Priorities
If you have a limited budget, you might not be able to do a full remodel. When this is the case you might have to learn to prioritize what needs more attention.
For example, if the plumbing system is too old, you might have to prioritize taking care of that rather than changing the vanity.
Although this might be a project you will do in several phases, the important thing is to learn to prioritize.
This is How to Create a Bathroom Remodel Budget
Now that you know how to create a bathroom remodel budget, it’s time you make it a reality. Start by answering important questions, keep in mind the size of the bathroom, find the best price, and crunch the numbers.
Do you need help bringing your bathroom remodeling project to life? Contact us for a free quote today.