Bathroom remodeling is a great way to add value to your home. However, it can be a costly endeavor. Before you begin, be sure to have a clear idea of your project goals and how much you want to spend. By doing so, you can prioritize the work and make better decisions about what changes to make.
Cost of Materials
The cost of materials used for remodeling is an important factor to consider. The size of the room, floor plan, number of fixtures, and material quality all affect the final price.
For example, tile and paint should make up about 15% of your total budget each. Those on a tighter budget can opt for linoleum flooring instead of ceramic or porcelain tile, saving up to $45 on the project.
Plumbing hardware is another affordable way to update your bathroom. Stainless steel, brass, or copper finishes are popular choices.
Cost of Labor
Bathroom remodeling costs vary, depending on the size and scope of the project. Small projects like a new tub or shower cost much less than major renovations.
A full remodel includes demolishing the existing space and replacing everything from walls to fixtures. This type of remodel is more expensive because new plumbing lines are run and the room’s floor plan changes.
Labor is the most expensive part of any bathroom remodel and typically accounts for 40% to 60% of your total budget. Expect to pay $50 to $75 per hour, though prices vary by location.
The choice of materials and finishes also ramp up the cost of your bathroom remodeling project. Luxury options like granite, soapstone and quartz are more expensive than solid surface and porcelain tile but can last for centuries when maintained properly.
Cost of Permits
Many remodeling projects require permits to comply with local laws. This includes bathroom renovations, which often include changes to plumbing and electrical components.
Depending on the city, permit costs range from $406 to $2,500.
Permits are required for any work that involves plumbing or electrical, such as moving the sink or removing a shower wall. They also need to be obtained if you want to make structural changes, like adding a dividing wall or building a new shower structure.
Getting a permit before the work begins will save you time and money in the long run, because you won’t have to go through the hassle of re-applying for permits after the work is completed. In addition, it will telegraph to potential home buyers that you’re doing things right and won’t try shortcuts that could cost you later on.
Cost of Demolition
The cost of ripping out the tub, toilet, vanity and cabinetry in a single pass can be substantial. On the other hand, resurfacing the same surfaces using modern materials may be more budget friendly and less disruptive. One of the most entertaining parts of any bathroom renovation is the process of putting it all back together. Taking into account the cost of materials, the labor, and the requisite permits, one could easily see how an average bathroom remodel can cost well into six figures or more. Fortunately, there are many financial options to help make the task of remodeling a breeze. For example, a personal loan can be used to fund all or part of the project with fixed interest rates and no collateral required.
Cost of New Fixtures
Bathroom fixtures are often the most expensive element of a remodel. Whether you want to upgrade your vanity, sink or tub, the cost will vary depending on your tastes and budget.
To save money, try resurfacing materials like tile, counters and cabinets instead of buying new ones. This will make your bathroom look new without breaking the bank.
Plumbing and electrical updates are also necessary, but these can be a bit pricey. In addition to the cost of relocating your existing pipes, you’ll have to pay for wiring for new lights and water features.
Before starting your bathroom remodel, it’s a good idea to do your research on what you need to buy and install. This will save you a lot of money later on down the road.