Budgeting for a Bathroom Remodel

Budgeting for a Bathroom Remodel
Monday, November 26, 2018

With the large range of costs for a bathroom remodel, it’s hard to pin down a dollar figure in a blog post (just one reason ArDan Remodeling suggests contacting us for a free bathroom remodeling estimate). It’s equally clear that whether you fall comfortably into the median or at either extreme, a bathroom remodel costs too much to simply hope for the best outcome. Expect a master bathroom remodel to cost between $45,000 - $60,000, and a guest bath remodel between $25,000 and $35,000. You’ll want to plan carefully so you can budget properly, and with the tips below you’ll be prepared to do just that.

Figure Out Your Why

Think back to when you bought your home. The odds are fair that the person you bought from thought fondly of the place, and may even have taken pride in some decor choices which you found questionable at best. Since the bathroom is one room many new homeowners decide to remodel, you’re best off keeping costs minimal if you’re thinking of selling. If you’re thinking of staying, on the other hand, it pays to design a space you’ll be happy with.

Know Your Budget

It doesn’t just help to know how much you can afford; it’s absolutely vital. Design choices, fixtures, and hardware options will be dictated as much by your budget as by your taste. Be realistic about what you can spend, and if you’re dealing with a home equity loan, credit cards, or any other outside sources, be sure to take into account the cost not only of the remodel, but also of the money borrowed. You may find it helpful to talk to your financial advisor or accountant in addition to talking to your Phoenix remodeling contractor at this stage.

Have a Built-In Cushion

Don’t start picking things out just yet based on the total budget you’ve determined. Set aside a cushion of 20% in case you decide on last-minute changes, or encounter cost overruns because of unanticipated structural damage, termites, and other things that can come up over the course of your renovation. Those things may never happen, but it’s better to have the backup and not need it than to need it and not have it.

Prioritize Your Bathroom Remodel

Not every remodel involves gutting the bathroom and starting from scratch. You may decide that it’s time to simply replace a few items, especially if you’ve had plumbing or electrical work done recently. The needs of a growing family, likewise, will be different than they’d be for empty nesters. Think about the things you need, the ones you’d like to have, and existing features you don’t use often that may have outlived their usefulness.

Time to Double-Check

Now that you’ve got a handle on your needs and what you can afford, put it all down on paper or enter the data in a spreadsheet. You can cross-check to make sure you haven’t missed anything, and also double-check your math against your budget.

Find Your Contractor

Now that you’ve taken all the key areas into account, speak to your Phoenix bathroom remodeling contractor. ArDan Remodeling will perform a bathroom remodeling consultation where we’ll go over your wants and needs, review your budget, and identify things you may have forgotten. Our goal is to keep you on time and on budget, and to that end we’ll help you identify areas where you can save on material and fixture choices without sacrificing beauty or quality. For more information on bathroom remodeling done right, contact us today!