Planning Your Bathroom Remodeling Budget
As a bathroom remodeling contractor, I get calls from
people, that have no idea what they want or how much anything is going
to cost. Here's some simple tips that can be very helpful when planning
a bathroom remodel budget.
Bathroom Remodeling Investment
In 2008, the average midrange bathroom cost around $16,000 and you could recoup around $12,000 of your original investment upon the sale of your home. According to a popular remodeling magazine, larger bathrooms using expensive fixtures, tile, bathtubs, woodworking, toilets and showers had an average of $52,000. Upon the sale of a home, you could recoup around $36,000 of your original investment.
Finding out How Much Things Cost
My first suggestion, would be to visit your local home improvement center, lumber yard or plumbing supply warehouse. Larger stores like Home Depot and Lowe's, seemed to provide you with value pricing but don't have a large selection. While doing some research on the Internet I noticed that some of their pricing is outrageously, outrageous. Some plumbing supply warehouses can provide value but beware others won't.
Create a List of Bathroom Remodeling Parts
You can get a good idea of your bathroom remodel costs for your budget by making a list of bathroom parts with pricing and then adding them up for a grand total. If you're a total bathroom remodel budget is $15,000 and you have a $6,000 bathtub with $4000 worth of tile, you could have a budget problem.
Figuring out the Labor
You will have to contact a contractor to get an actual cost for the labor. Sometimes you can double the cost of your bathroom remodeling parts to get a rough idea. If you have a list or a couple of lists and a few pictures of some sample bathrooms, this will make the contractor's job easier and often they can give you a labor price within a few days.
Give Yourself a Cushion
I would suggest leaving yourself a small financial cushion for any additional remodeling items. For example, you could see a different toilet, or instead of painting the walls, you now choose to wallpaper, you could incur additional expenses that you haven't planned for. If you know exactly what you want and stick to the original bathroom remodeling plan, you shouldn't need the cushion.
Financial problems often transfer into construction problems, so spend some time figuring out, how much money you want to spend on the bathroom remodel and try not to go overboard on the budget. I hate to see homeowners struggling with home improvement loan payments. Try to create a bathroom remodeling budget that is realistic and will not create a financial burden upon you or your family.