Bathroom Budget
You can create a simple plan or a more complex plan with numerous ranges in between.
Consider the following aspects when determining the cost of your new bathroom.
- Type of store and location
- Options and features
- Work done by hired labor.
The bathroom renovation cost usually ranges from $6500 to $11,600. However, you can certainly spend less or more than your budget.
According to the National Association of Realtors 2005 Cost vs. Value Report, in 2004,
- The average “midrange bathroom” renovation cost $9,861 and had a 90.1 percent payback.
- A “midrange bathroom” addition costs an average of $21,087, with an 86.4 percent payback.
- The cost of a “midrange bathroom” addition was roughly $21,087, with an 86.4 percent payback.
- The average “upscale bathroom” renovation cost $25,273 and yielded an 85.6 percent return on investment.
- The average cost of an “upscale bathroom” upgrade was $41,587, with an 81.1 percent payback.
You must not overlook the labor cost as it can make up 25 to 50 percent of the overall cost. Visit showrooms, seek advice from friends who have gone through the process, and schedule a consultation with a bath expert.
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