How much should you spend on your master bathroom? A rule of thumb is that the total project—including materials and installation—should cost no more than 5 to 10 percent of your home’s value. The National Kitchen & Bath Association (NKBA) puts the national average at about $16,000. Another guide is Remodeling Magazine's Cost vs. Value report, which compares the average cost of various renovation projects with the value they retain at resale. In 2011-2012, mid-range bathroom remodels cost an average of $16,552 and recouped 62 percent, while upscale bathroom remodels cost an average of $52,249 and recouped 56 percent. Here’s how the NKBA breaks down the budget for a typical bathroom remodel:
The average bathroom remodel costs $10,436 Most homeowners spend between $5,968 and $14,905. You can spend as little as $3,500 to $7,000 updating the essentials in a small or medium-sized bathroom. On a large or master bath, you could spend $25,000 or more. Labor averages 50 percent of the total project price at about $65 per hour. Expect pricing to vary regionally up to 20 percent due mainly to labor. Material prices stay roughly the same across the country.
Pedestal sinks can saver or waste space depending on the arrangement and storage options of your bathroom. If you want to open up floor space, they’re an excellent choice. However, they don’t offer the storage that vanity cabinets provide. If your bathroom lacks storage but you have your heart set on a pedestal sink, include open shelves or a tile-lined niche behind or adjacent to it. Alternatively, consider using cabinetry 16 or 18 inches deep, instead of the usual 21 inches, to maximize your floor plan.
Here’s a word of warning, though. It’s going to take more time than you think. Why? Your bathroom may be the smallest room in the house, but you’re going to have to paint slowly and gently around the window, the tub or shower, the sink, the mirror, the toilet, the switchplates, the wall corners, and the floor. This takes time and patience (and a good supply of painter’s tape), so make sure you keep this in mind when planning your renovation.
Financial limitations can make remodeling bathrooms on a budget a challenge, but it’s not as bad as you might think. If your bathroom has outdated fixtures, or you’re simply tired of looking at decor you’ve had for decades, it’s a good time to take charge and renovate. Even if you have limited resources, a full or partial bathroom remodel is within reach. Here are some practical and economical ideas to consider for the budget-conscious.