Although the bathroom is an essential part of any home, it is often overlooked. However, if you plan to cash in your property, remodeling your bathroom is an easy way to increase the overall value. In fact, according to the National Association of Realtors, bathroom remodels are one of the most popular home improvement projects.
Even if you don’t plan to sell your house anytime soon, a bathroom remodel is always a good investment. An outdated bathroom will be prone to failure, and you might need to spend a fortune repairing it later. So if you want to add value to your property while also preventing further repairs, remodeling your bathroom seems perfect. But what does bathroom remodeling entail, and is it really worth it in the long run?
How Much Do Bathroom Remodels Cost?
When it comes to estimating the overall costs of a bathroom remodel, things become a bit more complicated. While some homeowners could spend as little as $3,000 on a basic remodel, others end up investing over $18,000. The project’s scope is extremely important when determining the overall costs, as small bathroom remodels will always be less expensive than big projects.
Nevertheless, the bathroom remodeling price depends on many factors such as materials, timeframe, and design. Not only that, but the area in which you live can also increase or decrease the price point. And lastly, whether you decide to do the project yourself or hire a contractor will make a real difference in the end result and cost.
How to Lower the Remodel Costs
If you are interested in giving your bathroom a new look, then you might be looking for ways to make the project more affordable. Luckily, there are a few ways in which you can reduce the cost and increase the return on your investment.
Design the Remodel Yourself
Even though hiring a contractor to handle all the work may seem like the way to go, it can end up costing you a fortune. In fact, most contractors will charge a fee to design the bathroom for you, lowering the ROI. And while you might not be able to change the floor or walls yourself, you can still do the design. As a result, you should go into the remodel process knowing exactly what you want and how you want it.
Find the Right Materials
The remodel cost will heavily depend on the materials, and that’s mostly due to the labor put into the installation. For example, a heated tile floor will be noticeably more expensive than classic laminate flooring. You could spend some time shopping for similar-looking alternatives to luxury materials. But that doesn’t mean you should go for the cheapest stuff; just try to keep the cost down while still buying from reliable brands.
Hire the Best Contractor
Ultimately, you will have to rely on a contractor to do most of the hard work, such as plumbing and flooring. However, that doesn’t mean you should pick the first well-known contractor you come across. You might want to search online or ask around to get a better understanding of the companies in your area. Remember that picking the most expensive contractor is not always the best idea, especially if you are looking to save some money.
What Is the Average Return on Investment?
At the end of the day, what matters the most is the return on investment. However, the ROI depends on the type of project you are planning to undertake and the money you want to spend. For instance, a smaller project might turn out to be a better investment than a full-on remodel. By using the data from Remodeling, we were able to compile the following ROI comparison in order to help you decide what type of project you want to approach.
Midrange Bathroom Remodel
A midrange remodel involves using materials such as ceramic floor tiles, standard white toilets, new chrome fixtures, and basic single-lever shower handles. While the finishes are functional and improve the appearance of the bathroom, they are not the most expensive options out there.
- Average cost: $21,337
- Average return: $13,688
- Average ROI: 64%
Upscale Bathroom Remodel
An upscale bathroom remodel involves layout adjustments and even entire structural changes. The finishes are high quality and require a large investment compared to the ones used in a midrange remodel. They include things like heated floor tiles, stone countertops, double sinks, and new lighting. Additionally, during an upscale bathroom remodel, homeowners might also change the design of the shower entirely.
- Average cost: $67,106
- Average return: $37,995
- Average ROI: 56.6%
Universal Design Bathroom Remodel
A universal design bathroom remodel focuses on accessibility features such as push-button locks, wider doorways, taller toilets, and wheelchair access. Usually, those types of remodels are not as common as upscale or midrange, but they provide a high ROI.
- Average cost: $34,643
- Average return: $21,463
- Average ROI: 62%
High ROI Remodel Ideas
If you are looking to get the most out of a remodel, you should set your sights on smaller projects. That way, you will be able to invest money in the areas that bring the highest returns. For instance, a fresh coat of paint is less expensive and more profitable than a layout change.
Fresh Coat of Paint
Even though it sounds basic, a fresh coat of paint will improve the overall appearance of your bathroom. In fact, repainting your bathroom is a great way to repair any damage done by water or mildew. What’s even better is that painting is a great DIY project, meaning that you don’t have to rely on expensive contractors. All you need is a bucket of paint, some brushes, and you are good to go.
Upgrading the floor is one of the most popular bathroom remodeling projects due to its scalable costs. The average price per square foot of bathroom flooring is anywhere between $3.50 and $5.00 depending on the material used. Additionally, you can decrease the cost by upgrading the floor yourself without the help of a professional. Overall, new bathroom floors can completely change the look and feel of your bathroom without making a huge dent in your budget.
Although vanity pieces used to be some of the most expensive parts of your bathroom, nowadays, there are a lot of affordable vanity sets. You can buy one that has everything you might need, including cabinets, sinks, and faucets. Or, if that is too expensive, you can make your own vanity set by purchasing the items separately. Just make sure to choose materials that fit together and are appealing to potential buyers.
Water and Energy Saving Upgrades
With the increasing costs of water and electricity, future homeowners are looking for ways to reduce their bills. You can take advantage of that by replacing the light bulbs with energy-efficient ones. Not only that, but you can optimize the sink, shower, and toilet for low flow in order to consume less water. Nonetheless, transforming your bathroom into money-saving heaven will surely increase the appeal of your house.
Overall, remodeling your bathroom is one of the best ways to increase the value of your home. From repainting your bathroom to changing the layout entirely, the possibilities are limitless. And if you are careful with the materials and design you choose, you can end up spending way less money than you would normally.
Whether or not you plan to sell your home in the near future, you should definitely consider a bathroom remodel. After all, who doesn’t want to improve the appearance and functionality of their bathroom?
You may also like: