Life, Styled
While it is fun to gather inspiration pictures from Pinterest and jot down your favorite design pieces from the latest HGTV show, a bathroom renovation project should begin with a budget. Budgeting is about having a plan in place for where and how you want your money spent. It is one of the most essential pieces in the renovation plan and helps guide the project. We get asked multiple questions on this topic, including:
- How do you know what a reasonable budget is?
- What is included in a bathroom remodel budget?
- How do I decide what I want vs. what I need?
- Should I hire a contractor?
- Do I need a contingency fund?
One of our first objectives in a design meeting is to establish a budget for the entire bathroom project, which could include cabinets, flooring, hardware, and fixtures. This budget will set the tone for the whole project and tell us exactly what products to show you. In this blog, we will share what a reasonable bathroom renovation budget should include and a general estimate for the total.
How Much Does It Cost To Remodel A Bathroom?
It can be difficult to give a specific number for a bathroom renovation budget since each space is unique, but typically, you should budget around $100 to $200 per square foot of the space. The following is a broad estimate for these spaces, but remember that it can change depending on what materials and features you choose to include in your renovation project.
Even though they are smaller than a kitchen, a bathroom renovation can cost from $10,000 to $50,000, because they present a higher cost per square foot. The price difference is due to the elements involved in the renovation, including plumbing, moisture content, and electrical wiring. Moving the toilet or sink will expand the budget if you want to change the bathroom layout. Design options, such as tile and flooring, also play a factor in the price. Our experienced designers can assist you in creating a budget that is the right fit, which is just one of the many benefits of hiring a designer. Read more of the benefits here.
Design Options – What I Need vs. What I Want
Before diving into a bathroom renovation project, homeowners must decide which amenities they absolutely need vs. what they want. Every good renovation project begins with a detailed list of what you want to achieve in your upcoming bathroom renovation. Some things that come to mind are mirrors, storage, and aesthetics. All of these may be necessary for a bathroom, but their complexity will drive the budget. It is essential to have this list so that you and your designer can properly divide the budget to include these items. Some things you may want to include during your budget planning session:
- Tile: This can include backsplash, accent tiles, and the shower.
- Flooring: Are you looking for a particular pattern or material, such as laminate or hardwood? How about one that is easy to maintain?
- Fixtures: Do you need hardware, lighting, or faucets?
Remember, you can always revise as you go. This is for the initial planning phase, but itis helpful to have a rough idea of what you want to spend on the renovation.
Should I Have A Contingency Fund?
Most agree that 5% to 10% of the overall renovation budget should be set aside to cover any unforeseen emergencies. Even with the best of plans, unexpected problems can arise during a renovation, so it is best to have a contingency fund in place to ensure that your bathroom project will still be completed.
Did You Remember The Fees?
When setting up your initial renovation budget, it is easy to forget about installation, shipping, and taxes. These costs need to be factored into the budget so that you know what will be available to spend on the actual product, such as tile, flooring, and hardware.
What About That Extra Splurge?
It is tempting to want to indulge and get a few extras during a renovation, but we would caution you to consider which ones will give you the most value and benefit you and your family. Some choices to consider:
- Do you want to upgrade both your tub and shower? Consider which one you will use most and enjoy the most. Bathroom renovations must always consider “aging in place” for future use.
- Considering tile over laminate flooring? Decide if the flooring is among the top items on your list.
- Are you looking for unique hardware and fixtures, like a brass shower head? These items can make nice statement pieces in your space.
Please discuss which options are the most important with your designer so that they can help you create a realistic bathroom budget.
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