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Cost of a Bathroom Remodel

The cost of a bathroom remodel can be enough to scare any homeowner away from this important renovation. But, it does not have to cost a small fortune to remodel your bathroom these days. There are many great ways to get the most out of your bathroom remodel budget. And, if you are prepared with a realistic budget then you can enjoy the experience rather than stress about the cost. There are a few significant things that you should do to determine the cost of a bathroom remodel.

Crunching Numbers

In order to properly plan for your remodel project you will need to pour over some pretty important numbers. First, you will need to make a rough estimate as to what it will cost you to complete the project. If you are planning on doing a smaller project and plan to do most of the work yourself, then your estimates can be limited to the cost of materials only. But, if your remodel project is a little more involved and you will be hiring a contractor you will need to also include labor expenses in your cost of a bathroom remodel.

In order to figure out how much the materials used will affect the cost of a bathroom remodel, you will need to go to the source of your materials and do some pricing. You may plan on purchasing them from your local home improvement store, a catalog, or online. Whatever your method, note the average price range of the major materials you will need to buy. Adding those amounts up will help to determine the cost of a bathroom remodel. You do not need exact figure at this point because you will be making a rough estimate.

The next numbers to consider are those of your funding source. You may have set some money aside designated specifically to offset the cost of a bathroom remodel. Or, you may plan on going to your bank for loan in order to be able to afford the cost of a bathroom remodel. Or, the project may be funded by a combination of the two. Either way, the amount that you have to spend on your bathroom is more of an exact figure than the estimates expenses at this point.

Adding it All Up

Once you have your rough numbers it is time to add it all up and put it all together. Take your list of all materials needed and their average price and make a sum total of that. Do not forget the minor things like toilet seals, towels rods, nails, and tile grout as all of those little items can sure add up. And, if you are hiring a contractor you may need to ballpark some labor cost into that as well. These usually end up being about a third of the remodel projects cost.

Next, you will need to inflate your budget a little bit. This means you are going to put a figure into the budget for incidentals. When it comes to a bathroom remodel and more specifically, plumbing, there can be several unexpected issues that may come up and affect the cost of a bathroom remodel. For example, if you are ripping out old tile you may stumble across some mold and need to buy new drywall for the bathroom as well. As a rule of thumb it is a good idea to allow for about ten percent of the budget be set aside for these unexpected issues.

Balance it Out

The next step is to ensure that the budget amount does not exceed the amount of funding that you have for the bathroom renovation project. If you have a larger funding source that exceeds the estimated budget you set then you can either add more things to your budget or you can move forward to the next step. However, if your anticipate budget is larger than your available funds you will need to identify places in which to cut back. If it is a significant amount you will need to scale back on a more costly renovation. However, if it is slight then you can identify little luxuries that can be removed with little difference.

Keep in mind that you should always cut items that are just revitalized for appearance purposes first before you cut items that are essential for the overall project. For example, if the toilet is broken its replacement is a higher priority than a new vanity. Once you have the projected cost of a bathroom remodel, you can then use these figures to help track spending and keep the project on budget. Using this as a guide will help you manage the day to day expenses of the project to keep things headed in the right financial direction.

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