Renovating a bathroom is one way to make your home more comfortable for your family. A simple update can refresh the look of a bathroom on a budget. Bigger remodeling projects can take more work, cost more money, and might need to be financed. We talk about both options in this post!
Simple Ways to Update & Refresh Your Bathroom
Making your bathroom more beautiful does not have to cost a lot, especially if you enjoy DIY projects. A fresh coat of paint on the walls, refinishing the wood on a vanity cabinet, a new mirror, new pictures, or new window treatments can make an older bathroom feel newer. So does buying new accessories or a new shower curtain!
Replacing bathroom hardware like towel bars, cabinet and drawer pulls or replacing the faucets on a sink can change the whole look. You may even want to consider updating the lighting fixtures or hanging new shelves to add storage, which are other ways to update your bathroom with modest amounts of elbow grease. When you aren’t ready to jump into a bigger renovation project, think about these ideas for an easy refresh to your bathroom.
Bigger Projects: Renovations and Remodeling
People remodel bathrooms for many reasons. Sometimes their bathrooms have become outdated or need significant repairs. In these cases, renovating can make practical sense. Other times, people want to improve accessibility by increasing the size of the bathroom or adding features like a walk-in shower. People often do this when they have older family members coming to live with them or when they want to be able to live in their own homes as they age.
Finally, a bathroom renovation can make your home more comfortable. A larger shower with a better shower head, a sink with two basins and plenty of counter space, more natural light, or a handy new linen cupboard can make every person in your home happier.
Most people need professional help when remodeling their bathrooms. Get recommendations for plumbers and contractors. Take your time deciding what you want and what you can afford. And get all estimates and work plans in writing.
The Cost of Bathroom Remodeling: Dollars & Sense
How much is that new bathroom going to cost you? Now of course the right answer is "it depends" on what you want and what materials and labor costs in your community. But let us give you some ballpark numbers to get you started.
The web is full of great ideas for DIY bathroom refreshes that might cost you $200 to $500. Angie’s List says a typical bathroom renovation costs between $9,600 and $11,000, with the average low-end coming in at $2,500 and the average high-end at $23,000.
Homeadvisor.com has similar numbers. They say the average low-end is also $2,500 and the average high end $25,000. And homeadvisor.com says the national average cost is $10,288.
One more point to keep in mind is that remodeling your bathroom can increase the value of your house, although probably not by the full amount you spend.
For example, this CNBC article estimates you will recoup 70% of your investment in the price of your home. Using this figure, that means a $10,000 bathroom renovation might increase the value of your home by $7,000.
Other housing professionals often estimate the value between 50% and 60% of what you spend. That means a $10,000 remodel might increase the value of your home by $5,000 to $6,000.
How to Finance Your Remodeling Project
Once you’ve decided what you want and have done your homework to get a reliable estimate of the total costs, the next step is to find the money to pay for it. Taping into your home’s equity can be one way to finance the project. Freedom Mortgage is there for you when you are ready. Check out our article on home remodeling loan options or contact us today for personal assistance.