Interested in having your cake and eating it too? Getting the best of both worlds, having it both ways?
Sure, everyone likes to get more for less. Well, you can make it happen in your bathroom.
In other words, you can have your dream bathroom, and budget it wisely too … if you take some time to get strategic.
MAKE YOUR BUDGET YOUR BUDDY
Nail down your numbers from the beginning.
According to Remodeling Magazine’s 2011-2012 Cost Vs. Value Report, upscale bathroom remodels can cost up to $52,249. Midrange bathroom renovations have a national average of $16,552.
Do these numbers fit in with your project scale and budget? If not, no worries. Make your own numbers with a budget worksheet in Excel.
Include the following six categories in your worksheet:
1. Total Monthly Gross Income
2. Remodeling Housing Budget Increase/Decreases
This includes rent/mortgage, taxes, property and finance payments, utilities and additional household repairs that come with the remodel.
3. Remodeling Material Costs*
This encompasses materials used for construction, flooring, furniture, accent pieces, etc.
4. Remodeling Labor Costs
5. Miscellaneous Expenses
This category deals with any unexpected or emergency costs.
6. Total Net Monthly Income (free income available)
*Use this Home Renovation Estimate bathroom budget calculator to get an idea of material costs.
It’s important to fill out the numbers for these categories as thoroughly as possible. Take some time to think of all possible miscellaneous costs you may encounter before you write your own expenses in.
After you’ve thoroughly completed the six categories, jot down your total bathroom renovation budget at the top of the worksheet. Then, subtract the numbers from each category to get your available balance. Hopefully, you’ll come out even — ideally with a bit of a buffer for any unanticipated costs or additional features and fixtures you want to incorporate.
LOOK FOR LOW COSTS
While reaching for high quality.
There are a bunch of low-cost options out there that will give you a great look without bludgeoning your budget:
- Consider bathtub liners, like acrylic bathtub surrounds, instead of an all-out renovation.
- Instead of running tile up the entire wall of your shower, which can get expensive, think about beadboard wainscoting to portray a classic, period look, or a trendy paint color for modern appeal.
- Do you want to deal with window installation or plumbing and lighting relocation? Those types of labor cost more than sticking with your original bathroom layout.
- If you’re absolutely in love with a particularly costly fixture, make up for it by going for lower-end items for the other appliances in your bathroom.
- Check out this Better Homes and Gardens blog post for more low-cost bathroom redesign ideas.
Any bathroom-on-a-budget breakthroughs we missed? We’d love to hear unique strategies you use to keep costs low and quality high for your in-home renovations.