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Renovating your bathroom won’t just bring you that steam shower or soaking tub you’ve been dreaming about. It could also improve the resale value of your home.
Bathroom renovations have an average return on investment (ROI) of 60% to 68%, according to HomeGuide, with some upgrades adding more value than others. But you’ll need to spend some money before you can increase your home’s value – enough that you might need to consider home equity loans or other financing to pay for it. You should expect to spend somewhere between 5% and 10% of your home’s value on a bathroom remodel, according to the National Kitchen and Bath Association. Based on that, if your home is valued at $200,000, your bathroom remodel might cost somewhere between $10,000 and $20,000.
While there are a variety of factors that affect bathroom remodel costs — from materials to room size to labor— understanding the average cost of a bathroom remodel can help you plan your budget.
How Much Does a Typical Bathroom Remodel Cost?
The cost of a bathroom remodel will vary depending on the scope of the project, cost of the materials, size of the room, and other factors. Choosing to DIY your project may keep costs down, whereas hiring a contractor or plumber will add to your bill.
More minor, low-cost changes could involve painting walls, swapping out fixtures, or refinishing a bathtub. Pricier remodels could be installing a shower, retiling a floor, or replacing cabinets.
“Bathroom remodels may range in scale from a simple refresh, with cosmetic fixes like painting cabinets and replacing mirrors, to a gut renovation that involves installing a luxe new shower, replacing your sink, retiling, and more,” says Allie Weiss, the U.S. digital director of Architectural Digest. “Replacing dated plumbing fixtures is a common and usually easy-to-execute project, as is adding in additional storage and repainting to make a lackluster bathroom feel fresh.”
Here are the average bathroom remodel costs to expect, according to a survey by the Joint Center for Housing Studies at Harvard University, depending on whether you’re going for a minor or major update:
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Cost Breakdown of Bathroom Remodel
Remodeling a bathroom …….