August 21, 2017 Personal Finance

Avoid taking a bath on bathroom remodeling costs

Styles come and go, but if your bathroom looks the same as it did in the 1980s, it might be time for an upgrade.

Remodeling your bathroom doesn’t just make it look modern. Bathroom remodeling also can include more energy-efficient fixtures, so you use less water and electricity, and save money.

Before you decide to repaint, retile or replace anything in your bathroom, you want to first answer the question: How much does it cost to remodel a bathroom?

It really depends on what you plan to do and the size of the bathroom.

If you’re looking for help to finance bathroom remodeling, check the personal loan rates at Bankrate.com.

The cost of remodeling a bathroom

The average cost to remodel a bathroom is just under $10,000. For the most part, people who decided to remodel their bathrooms spent from $5,910 to $13,835.

To be sure, you can pay less than the average if you only make a few simple changes to your bathroom or if you do the work yourself. Even so, if you want a complete makeover, you might spend considerably more.

What makes up bathroom remodeling?

Your bathroom remodeling depends on your goals. Some options will dramatically increase the cost. Others won’t. Before you start to remodel, it’s a good idea to determine the scale of the project so that you can avoid going over budget.

A lower-cost bathroom remodel

If you’d like to keep the cost of your bathroom remodeling on the low side or at least lower than the average cost, you have options. Instead of completely rearranging the bathroom, it’s less expensive to leave the sink, bathtub, shower and toilet where they are. Simply swap the older models for newer, updated versions.

If you don’t have a lot to spend on countertops, you can get lower-end granite or another lower-priced material. You also can cut costs by purchasing lighting, flooring and cabinets off the shelf instead of installing custom fixtures.

A higher-cost bathroom remodel

If you have a bit more to spend, you can upgrade your remodeling in a few ways. One option is to get higher-quality, custom countertops, such as quartz or custom-cut granite.

Also, you may want to invest in higher-quality fixtures, such as faucets made of bronze or copper and solid wood, glazed cabinets.

Another big ticket job is moving the shower, tub, sink and/or toilet from one part of the room to another. That also boosts the price tag.

Conclusion

Remodeling a bathroom has several benefits for the homeowner, aside from making the room look better and improving its function. You can recoup around 60 percent of the cost of remodeling when you sell your home, as long as the changes you make are appealing.

Adding another sink to a master bathroom, improving the lighting and making the shower function better are a few examples of bathroom updates that pay off in the long run.

If you’re considering a home-equity loan to pay for bathroom remodeling, check out the rates at Bankrate.com.