Price of Bathroom Renovation

Eventually your bath remodeling blueprints translate into your bank account. 

What is a cost for bathroom renovation? Usually is a compromise between all the great things you see on TV shows for your finished project and what you’re willing and able to spend to achieve your goals. 

Your first priority might be to set limits for the total amount of money you will spend for bathroom renovation. You will probably create two lists, one with essential things and the other with extras you would like to have if there is money left after you pay for essentials reno bathroom cost. Once you set up your budget, stay committed to it. A commitment to your bottom line will help when difficult cost-cutting decisions come knocking. 

Cost-Saving Approaches

Of course, your project must include all of the essentials for your project, but it is possible to save money with these steps:

Avoid complicated design.
 

Stay away from premium architectural features, such as arches, curved walls, ceiling treatment with extra backlight or high-end fixtures like digital shower, jets, whirlpools as it’s significantly increase price of bathroom renovation. Separate those from essentials and add later once you have more room in your budget.

 
Substitute expensive materials.
 

Great looks come in a wide range of prices. Some materials-such as natural stone tiles-can be expensive. There are a lot of alternative materials that replicate the look of natural stone; you may find them for substantially less per square foot. Look toward porcelain or ceramic tiles, there are a lot of beautiful design right now for lower cost.

 
DIY some work if possible:
 

Demolishing, painting and clean up are popular do-it-yourself jobs. Consider handling minor surface regrading and the clean-up and finish work, such as painting and installing trim. These can be discussed with contractor company to decrease the cost of labor for renovating bathroom.

Smart remodeling choices in the bathroom can increase the value of your home - and make the money invested to complete the renovation worth it. This bath’s neutral-hue mosaic tiles, furniture style vanity, and earthy color flooring impact timeless elegance.
 

Bid basics 

As you finalize your ideas and move toward construction, request bids from contractors and other professionals you’re considering to complete the work. Convey your goals and budget to the professionals involved in the project. Once you receive bids, add a 10 to 15 percent cushion to the total plans that may occur after construction has begun.

What it’s worth
 

One of the most expensive mistakes you can make is to over improve. Buyers shy away from homes that are substantially more expensive that similar homes longer to sell. You could even find yourself “upside down”-owing more to the bank than you can get in sale.

A simple rule can help you avoid this trap. Beware if the adjusted value of your home-the current value plus the cost of remodeling -will be more than 20 to 25 percent above the average for comparable homes in your area. A bath remodel alone usually doesn’t reach this tipping point, but it’s worth doing the math.

Don’t want to spend a fortune expanding a small bath?  Look for space saving design tricks instead. A recessed LED medicine cabinet and wall hung toilet help compact bathroom looks bigger and more functional.
 

Sources of Money 

Cash. It’s the simplest way to pay for your bathroom transformation. Write a check or use your credit card and pay off the monthly charges.
Savings. Borrow from yourself to save the hassle (and expense) of paying interest to a lending institution.

Home equity loan. This type of loan borrows against the equity you’ve built in your home. The rates are fixed, so payment each month over the term of the loan (between 5 and 30 years) remains the same. The amount you can borrow depends on your home’s appraised or fair market value and the amount you still owe on any outstanding mortgage loans. The interest paid on this type of loan is generally is tax deductible.

Home equity line of credit. This form of revolving credit is based on your home’s value and the amount of equity you have. You have the flexibility of borrowing as you go.

As you pay back the amount you owe, the amount of credit available to you increases until it reaches your credit limit. It’s available when you need it, through a variety of convenient options.

Refinancing. Taking a cash-out mortgage loan allows you to refinance your mortgage for a higher overall amount than what you owe on your home. The amount depends on your home’s accumulated equity and value. Interest rates are lower than with homme equity loans but expect to pay standard closing costs.

Home improvement loans. Available in many provinces and depending on different government programs for developing or historic neighborhoods or for people in low-income situations, these loans are sometimes forgivable. Contact your municipal building code official, city planner or learn more about programs that help cut cost of financing by your own.