So you’re ready to redecorate and redesign your bathroom. But dropping $20,000 on a deluxe spa retreat is light years away from what you can afford to spend. Here’s the good news: You don’t need mega-bucks to transform your bathroom into a relaxing, cool space. There are plenty of ways to renovate and redesign on a budget.
According to Remodeling Magazine’s Cost vs. Value report, an average bathroom remodel costs around $10,500 while an upscale remodel is going to run you a hefty $26,000. However, if you do the work yourself and get creative, This Old House estimates that you can do a remodel for $1,000 to $3,000, or even less, depending on how much you want to change.
Moreover, updating or adding a bathroom to your home is a home improvement project that adds value. In other words, you’ll recoup a significant portion of costs when you sell your home, as much as 100%.
Determine how much you can afford to spend on your remodel to determine the extent of the changes you can make. If your budget is on the low end (i.e. $1,000 or less), you’ll want to stick to cosmetic changes, such as new fixtures or a new sink, and new paint. If you have more to spend, you can focus on larger changes, such as adding tile, a bigger shower, or a window. Again, it all depends on your budget.
If you’re planning to add a completely new bathroom or decide major changes need to be done to an existing bathroom, consider a home equity line of credit from Figure.com. You can get approval within five minutes and receive the funds within five days.
So what can you do to save money on your bathroom redesign or remodel?
Tile gets expensive, especially when you hire a contractor to lay it all out for you. To save money, limit the amount of tile and focus on high-impact areas like the floor (instead of the floor and inside the shower stall walls). Alternatively, you could tile one horizontal strip along the wall and paint the rest.
If you’ve got your heart set on tile that’s artistic and expensive, use it as an accent alongside a cheaper tile. Not only will the artistic tiles be more noticeable, but you’ll save a ton of money by only using a few here and there.