Knowing Which Bathroom Renovation is Best For Your Home
There is never a shortage of homeowners investing in a new renovation project. In fact, the statistical amount of money spent within the year of 2018 on home renovation is a whopping $74 billion. Among the many most popular remodels, the bathroom is the number one change made to most homes. Of course, the size of the project is based on the size of the homeowner’s wallet.
What is the average spending cost based on bathroom renovation types?
While the most common cost on remodels is $10K, the amount spent is entirely dependent on your needs as a homeowner. It is also contingent on the size of your bathroom.
Small. If there is not much needed to make a drastic change, the cost on average is between $3k – $10K. Such renovations only really consist of fresh paint on the walls, an easy exchange of cabinets or mirrors, and fixture swaps. In a smaller renovation project, the cost of appliances and other material used is practical.
Medium. Most medium sized projects require a gutting out of the bathroom and requires a budget of up to $20K. With this option, the homeowner desires to replace floors, fixtures, and major hardware like sinks, toilets, tubs and showers.
Luxury. There are no limits when it comes to a luxury remodel. A homeowner can customize to their heart’s content dependent on the size of their budget. From having heated floors to televisions installed in showers, a luxury renovation can run up to at least $100K.
How to decide which renovation type is right for you.
Time. Depending on how much renovation is taking place will determine how long you will be displaced from your home. If you have the patience and time to live through a period of discomfort, then this won’t be the deciding factor on which size project to pursue. Also keep in mind that with every project will come delays. This will also have to be taken into account when determining how long you will live in discomfort.
Budget. Sometimes during renovations, problems arise. Certain problems will require for you to dig into your project and spend more than you anticipated. For this reason, the budget set aside for your project should be well over what you initially need. This way, you are able to accommodate the unexpected without it hurting you financially.
Want vs. Need. When deciding on a particular renovation size, determine what you need in your bathroom as opposed to what you want. Budget out the needs first. Once those costs are accounted for, make room for the wants.