Affordable Bathroom Remodeling
Here are the essential updates that top realtors
and builders recommend should be a part of your bathroom remodeling plan:
1. Replace old, dated fixtures (sink, toilet, faucet, countertops): this is an easy, relatively inexpensive fix that goes a long way.
2. Invest into cosmetics rather than big changes: visuals impress the most, so spend money on new paint, wall and floor tile and other elements that have an instant positive impression.
3. Add good lighting: having different types of quality lighting in
the bathroom can be a valuable bonus.
4. Replace the old tub with a large walk-in shower: this update remains extremely popular, as more and more homeowners appreciate high-end walk in showers, with steam and other bells and whistles, than traditional tubs (even expensive ones). However, if your home only has one bathroom, you should leave the tub in and replace it, if its old.
5. Install a quality double sink in a master bathroom: this is a highly popular update, especially in high-end homes.
The national average cost to
renovate a small bathroom is around $6,500. It
includes basic updates, using mid-range quality materials and accessories. Shower remodel cost starts at $2,800 and can go up to as much as $15,000, depending on what you have in mind. Tearing
out a bathtub and putting in a new shower enclosure will run about $2,800-$3,500. If you want to step it up in terms of
luxury, the price to install a steam shower starts at $4,000+ more if you want to add fancy frills, like
aromatherapy pump, custom shower enclosure, mood lighting, etc.
People spend the most money to remodel a master bathroom. Averages reported prices start at $12,500 - 19,000. However, a new master bathroom can cost as high as $50,000, depending on the size of the space, moving walls, plumbing, electrical, etc, quality of materials, desired level of luxury, and overall complexity of labor.
Putting in a bathroom addition is also expensive. Average cost ranges from $20,000 to 35,000+, depending on the location of the addition, size of the space, electrical, plumbing and HVAC work required, etc.
What Is the ROI Of A Bathroom Remodel?
planning how much you want to spend to update your bathroom, it is a good idea
to consider the ROI or return on investment of this project. This is especially
important if you are considering selling your home soon (within 2-5 years) or
are currently in the process of putting your house up for sale.
Indeed, redoing old bathrooms is one of the most desirable projects around the house. It helps attract buyers and significantly boosts house value. In hot housing markets, new bathrooms can recoup over 100% of your investment into the renovation! On average, a typical bathroom remodel offers about 62-65% return on investment.
How to Get the Best Return On Your Bathroom Renovation
- Mid-range bathroom
upgrades ($12,000-18,000) get the best ROI in most
middle-class towns around USA.
-If you have an old home, with only 1 bathroom, its best to invest money into building a second bathroom, instead of updating the one you have. While a bathroom addition typically doesn't recoup more than 50% of its value, this may be a necessary requirement for selling your home at a desirable price.
- Research the value of homes in your neighborhood, especially those located right next to you. Even if you have an expensive home with very high-end updates, but your neighbors' houses are much more modest, it is wiser to invest less money and avoid having an over the top bathroom - most likely you will not recoup its cost. Conversely, if you live in a high-end neighborhood, prospective buyers may be disappointed if they don't see luxury bathrooms in your home.
The rule of thumb is: your total remodeling budget should not exceed the ceiling of your neighborhood home values, otherwise you will not get your money back.