Considering a Bathroom Renovation? Here’s How Much You Can Expect to Pay
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.