Knowing the total bathroom remodel costs upfront is vital. Here’s the average bathroom renovation cost.
As a homeowner, it’s normal to find yourself desiring a different bathroom look at some point in your life. Bathroom remodels are popular home improvement projects that will increase not only your home’s aesthetics but also its value. You can remodel your bathroom in different ways based on your budget and preferences.
So, what’s the bathroom renovation cost? The average cost of a bathroom remodel is $10,000. Of course, this is dependent on several factors. A more budget-friendly remodel can set you back $2,500; a high-end project can cost up to $30,000. It will also depend on how you are looking at the cost of adding half a bathroom or a full one. Ideally, your project should be within a comfortable price range.
Some Ideas for Your Bathroom Remodel
Your remodeling project design depends on factors such as the size of your bathroom, that is, whether you’re redoing a master bathroom or a small bathroom. It is also dependent on whether you’re going for a complete bathroom makeover that includes high-end fixtures.
Either way, here are unique bathroom remodel ideas you may want to explore.
Walk-in Shower
This is a perfect way to add a modern edge to your bathroom. It is also quite functional because it maximizes the floor plan, so it’s suitable for small bathrooms. Additionally, walk-in showers are relatively easier to clean and maintain.
Marble Bathroom
Go extra with this exquisite natural stone. A marble floor and a marble surround tub will give your bathroom an elegant look. But, of course, with marble, you’ll want it properly sealed and maintained to avoid discoloration.
Freestanding Tubs
Your remodeling project will hardly be complete without a new tub if you’re not going with the shower. Freestanding tubs are gaining popularity among homeowners mainly because they increase visual appeal and are generally larger than built-in models.
Heated Floors
You’re probably familiar with the feeling of stepping onto a cold tile after soaking in a tub. Incorporating heated floors in your floor plan will ensure your bathroom is always warm and cozy, even on chilly days.
Classic Cabinets
Remember to factor in walls and cabinets when working on your bathroom design. They tend to tie the whole look together. Going with warm colors is advisable, as well as coordinating them with your floor plan and countertops for a classy, stunning look.
Bathroom Renovation Costs at a Glance
Bathroom renovation costs vary depending on the materials, the type of renovation, total square feet, and other factors. Here’s what you need to know.
Average Bathroom Renovation Costs in the U.S.
The type of renovation cost is a key factor that determines if your total budget is sufficient. While costs vary based on location and other main factors, here’s what you can expect.
Basic Renovation Costs
You can get basic renovations for roughly $6,622. This price point is on the low end of how much people typically pay for renovations.
Mid-Range Renovation Costs
The average cost of most bathroom renovations is typically $13,755. You’ll have to invest in better materials for this renovation.
High-End Renovation Costs
This full bathroom remodel costs the most but also makes your bathroom look the best. The cost for this remodel is roughly $78,501.
Average Cost of a Bathroom Remodel per Square Foot
As mentioned above, the cost of remodeling a bathroom ultimately depends on a wide range of factors. The cost per square foot typically ranges from around $70 for a low-end bathroom to about $250 for a high-end bathroom renovation. If you’re going for a major upgrade, the cost could be anywhere from $275 per square foot.
Here’s the average cost of a bathroom remodel according to quality.
Simple Bathroom Remodel
This is a basic bathroom remodel that is meant for smaller bathrooms. The average cost of simple bathroom remodels ranges from $5,500 to $19,500. In older homes with more durable materials, you can renovate old fixtures (if they’re still in good condition) instead of purchasing new building materials.
Semi-Furnished Bathroom Remodel
This type of renovation usually involves replacing the existing fixtures without necessarily changing their location. A few additional features have also been added for flare. The average cost of this kind of bathroom remodel runs from $25,500 to $35,500 since it involves larger square footage.
Fully-Furnished Bathroom Remodel
A fully-furnished bathroom remodel is usually done in the master suite bath. Since the room is larger and has more fixtures, there are bound to be additional costs that will drive up the budget. This type of remodel includes features like a fireplace, jacuzzi tub, multi-head showers, and motion sensor faucets. The average cost of a full-furnished bathroom remodel is $45,000 and above.
The Importance of Understanding Costs
If you know the approximate cost of bathroom renovations before committing to the project, you will know how much money you need to borrow. Homeowners can decide if they want to use high-end materials or if they should seek materials that are more budget-friendly.
Key Factors Affecting Bathroom Renovation Costs
Various factors determine the total project cost of a renovation. These are some of the highlights:
- Square feet
- The type of renovation
- The quality of materials used
- The cost of labor
- Your location (i.e., bathroom renovations will cost more in New York City than in a rural area)
- Electrical systems
- If you are making a small or a full renovation
- Bathtub size and style
- Bathroom demolition costs
- Faucets
- Countertops
- Wall and floor tile
How Do These Factors Affect Bathroom Renovation Costs?
Understanding the major factors determining the total cost of a bathroom renovation will help you make an informed decision. Going in without any thought-out plan could result in overspending. The following factors will significantly affect your bathroom remodel cost.
Location and Cost of Living
Naturally, remodeling a bathroom in a large metropolitan city where the cost of living is high will cost more than in a rural area. In other words, you’ll probably pay more for labor and materials in urban areas than in a rural setting.
Size and Expansion of Space
If you plan to expand your bathroom space, you’ll have to dig deeper into your pockets. This is because the size of the bathroom is a key determinant of the overall remodeling cost. For example, if you’re redoing a master bath, you’ll need more materials and fixtures than you would with a smaller bathroom. Additionally, remodeling a larger bathroom translates to more labor costs.
Amount and Quality of Fixtures
If you’re going all out and looking to make extensive renovations, you’ll have to install new, high-end fixtures. The material prices will largely impact the overall budget. For structural changes, such as installing ceramic tiles, you should be ready to part with a significant amount of money.
Some of the expensive parts of bathroom remodeling include:
- Tub
- Shower, especially if you’re installing a shower alcove
- Toilet
- Wall and floor shower tiles
- Faucets
Plumbing and Electrical Work
If your design involves rearranging fixtures and relocating or replacing pipes, your bathroom remodel cost will increase. Plumbing is quite challenging and costly since most homes have hidden plumbing leaks.
You’ll also need optimum lighting for your bathroom and outlets for grooming essentials like dryers and shavers. If the remodel involves rerouting and completing electrical wiring for new lighting fixtures, it will cost more than just new switches, sockets, and light fixtures.
Labor Costs
You can do small replacements and fixture repairs on your own, but a complete bathroom remodel requires the help of a professional. Hiring a general contractor varies depending on your location and the type of renovation.
Generally, the average cost of a bathroom renovation ranges between $50 to $75 per hour. General contractors typically charge about $300 to $400 a day for extensive projects.
Custom Features
Any additional features also need to be factored into the budget. Custom features, such as grab bars for people with limited mobility, will significantly increase the cost of your remodel.
Breaking Down the Major Costs of a Bathroom Renovation
These are the components of a bathroom renovation and how much they cost.
Plumbing Cost
The average cost of plumbing is roughly $6,500. This cost can range from $3,000 to $20,000, depending on the type of renovation.
Flooring Cost
The total cost of materials and the project scope play big roles in total costs. The total average cost is $2.10 per square foot, but the cost for a fresh new look ranges from $1.82 to $2.39 per square foot.
Fixtures and Hardware Cost
The average cost of fixtures and hardware ranges from $300 to $2,500. Your bathroom’s size, style, and current fixtures play a role in the final cost.
Lighting Cost
Lighting costs vary greatly but can range from $80 to $750 per fixture. A small bathroom remodel will be cheaper, while a major renovation will have a higher price tag.
Storage Cost
Installing bathroom cabinets can cost approximately $5,500. These costs range from $3,300 to $12,000 but vary based on the bathroom’s size and the type of bathroom.
Labor Cost
Labor costs have a lot of variability and can range from $40-$150 per hour. Plumbers tend to be more expensive than electricians. While the average cost can range from $1,300 to $4,300, it depends on the amount of time it takes to renovate your bathroom. A small bathroom renovation will have fewer labor costs.
Cost for Personalized Additions and Other Details
Personalized additions and other details will impact the total cost of a bathroom remodel. Make sure you consider these factors before calculating your total budget.
How to Estimate Bathroom Renovation Costs
Homeowners have several ways to assess the overall cost of a bathroom remodel and establish appropriate budgets. Here’s what you should know.
How to Use Online Cost Calculators
Online cost calculators can play a large role in determining your budget. These calculators let you provide information about your bathroom size, material costs, and other details. The best way to approach these calculators is to view them as a general guide rather than the guaranteed price you will receive.
Importance of Getting Multiple Quotes
As a general rule of thumb, you should get multiple quotes for a bathroom remodel. Whether you need help with a shower stall, double sinks, new faucets, or cosmetic changes, contacting multiple companies is a good idea. Receiving several quotes allows you to compare each of them and can result in the best deal.
Considering Unexpected Costs
You can incur several surprise costs while working on a remodel. It’s a good idea to tack on an additional 10% of your budget to account for unexpected costs. While unexpected costs can exceed any estimate, accounting for them minimizes the likelihood of getting caught by surprise as small projects add up.
Ways to Finance Bathroom Renovation Costs
Before you renovate the bathroom, you may need to secure funding for the project. These are some of your options to improve the overall look of your bathroom:
Out of Your Own Pockets
If you’ve been saving up for a home renovation project or have some disposable income, hire a contractor to start working on your bathroom remodel. Minor renovations and repairs typically cost less, so you won’t go deep into your pockets.
Personal Loan
You can also opt for a personal loan, typically short-term. You can borrow money for any expense if you use a personal loan. However, these loans typically have higher interest rates since they are unsecured.
It is a good rule of thumb to assess the cost of construction before taking out any loan. Borrowing too much money results in excessive closing costs, and you may have to make a second trip to your lender if you don’t ask for enough.
Store and Contractor Financing
Some companies that offer tile work, renovations for larger bathrooms, and other bathroom renovation projects may offer financing. It’s typically easier to get approved for this type of financing, but you may end up with a higher rate. This path may be a good starting point if you do not have the best credit score.
Home Improvement Loans
Home improvement loans are personal loans that are specifically designated for home improvements. These unsecured loans typically have short terms and higher APRs.
Cash-out Refinancing
Some homeowners tap into their home equity for new plumbing, showerhead upgrades, and other components of bathroom renovations. A cash-out refinance allows you to swap your current mortgage with a new mortgage with a higher balance. The difference between the two mortgage balances becomes cash that you can access right away. You can use these funds for any purpose, including bathroom remodels.
Home Equity Loan
A home equity loan acts as a second mortgage against your property. You can select a term as long as 30 years and have extra capital for your bathroom remodel. These loans typically have fixed interest rates.
Home Equity Line of Credit (HELOC)
HELOCs typically have variable interest rates and have more generous repayment schedules than home equity loans. These lines of credit let you tap into your property’s equity. A homeowner only pays interest on this loan if they borrow against the credit limit. That way, you don’t have to incur additional costs until you use this HELOC for renovations.
If you are interested in financing your bathroom renovation costs with a HELOC, CrossCountry Mortgage can help. Individuals with a healthy credit score and debt-to-income ratio can borrow 80% to 85% of their home’s value to fund bathroom renovation costs. Their experienced team can also guide you through the process and help you secure the funds you need to turn your renovation dreams into reality.
Contact CrossCountry Mortgage today to learn more about their HELOC options and how they can assist you with financing your bathroom renovation project. Let CrossCountry Mortgage be your partner in achieving the home of your dreams.
How to Determine Which Financing Option is Right for You
Homeowners can choose from many financing options to afford a bathroom remodel. While paying out of pocket will save you money and let you access cash instantly, it’s not a realistic method for everyone.
Homeowners can tap into their equity through home equity loans and HELOCs. These financial products tend to have lower interest rates and lengthier terms than other loans. You can also consider a personal loan if you do not want to put up any collateral and need quick access to cash. HELOCs and home equity loans usually take more time since you need to get an appraisal for your property before accessing capital.
It’s also a good idea to let the type of bathroom model influence your decision. You may want a short-term loan for a minor project. However, if you find yourself on the high end of a bathroom renovation budget, you may want a home equity loan or a HELOC with a lengthier term.
Conclusion: How to Save on Bathroom Renovation Costs
Bathroom renovation costs can get expensive. The material, size of your bathroom, and hardware are some of the factors that will impact your total costs.
However, homeowners have several ways to save on these costs. Doing your research, receiving multiple quotes, and comparing the offers can lead to some solid savings. You can also save money when seeking financing. Personal loans are more expensive than home equity loans, but the former is usually quicker to access.
If you can wait around 2-6 weeks before initiating the process, you may want to get a home equity loan or a HELOC to secure a lower rate. A cash-out refinance is another option to consider, as you can end up with the necessary capital without paying higher monthly mortgage payments.
