How To Budget Your Bathroom Remodel
Bathroom remodels are successful when you get the look and functionality you want – within budget. The first step in this process is creating your ideal wish list. (Click Here to read “Bathroom Remodel Considerations Part I: Your Wish List”.)
Next you’ll want to set a realistic budget. According to data on bathroom remodeling in the greater Los Angeles area, you can expect to pay on average $19K. But this can exceed $35K based on materials, labor, and other variables like whether or not your project is a simple facelift, minor upgrade or full bathroom re-do.
Using this as a benchmark, would you like to invest in the high-, mid-, or low-range? To answer this question, consider not only your current bathroom project but also other renovation projects on the horizon. For instance, a top-of-the-line bathroom might look out of place in a home that still needs significant upgrades everywhere else. But rest assured, you can usually get a similar look at a fraction of the cost with a few subtle compromises. For example, you could choose different tile, countertop materials, or plumbing and electrical fixtures. And if the rest of your house is already up-to-date, why not splurge?
Next, think about the number of years you plan to live in your home. If resale value is important to you, benchmark comparable homes in your area – what shape they’re in and the kinds of improvements they’ve made. Most try to align renovations to a similar level, give or take.
Always remember to add a cushion to your budget that accounts for unforeseen surprises. Good contractors have experience in calculating for the unexpected but, even still, you never know what plumbing, structural, or electrical issues might be uncovered once a wall or floor is opened up. A standard rule of thumb is to add 20 to 30 percent just in case.
The right contractors can help homeowners get the most out of their remodeling budget. They know what can be substituted and where you should never cut corners. Quality professionals have been in the business long enough to help their client’s prevent waste, rework, bottlenecks, and pitfalls.