Affording a Bathroom Remodel

Anyone considering a bath remodel wants to know how much it will cost. The cost can vary to a huge degree, depending on whether there will be structural changes involved, and based on the price of the components. The "average" bath remodel weighs in at around $9,000, although you can cut that figure substantially by being a smart shopper; do your buying at a home center and do as much work as possible yourself.

If you do none of the work yourself, and choose high-end components, you will easily exceed the $9,000 average. Consider that a deluxe whirlpool tub can cost $5,000, yet a white cast iron tub goes for around $500 and you will see how your choice of fixtures will have a huge influence on your total remodel cost. Labor for your bathroom remodel can also be a pretty large expense, especially if you do none of the work yourself. All the major building trades-electrician, plumber, construction-are all involved in a bathroom remodel, so hiring out all the work adds up quickly.

Even considering the price, a bathroom remodel is one of the very smartest things a homeowner can do for their home. Kitchen and bathroom remodels are incredibly effective in increasing the value of your home, or boosting your selling price should you desire to sell. Most kitchen and bath remodels easily pay for themselves when your home is sold. Even if you have no intention of selling, then remember that an affordable bathroom remodel can be a really nice treat for you, making your home much more pleasant.

Think Outside the Box

If you are looking for a truly affordable bathroom remodel, you must be able to think creatively, even though the easiest option might seem to be to gut the room and start from scratch. Unfortunately, this is rarely the most affordable option. Consider doing a "surface" remodel, meaning you will only replace certain parts of your current bathroom, preferably the parts which make your bathroom look dated. Surface remodels can include repainting or wallpapering your walls, adding new light fixtures, refinishing the vanity, or even adding new countertops or tile floors. Spend an afternoon looking through your local home improvement store to see what kinds of fixtures they have-you might be surprised at the great deals you find.

Financing Your Bathroom Remodel

Should you desire a complete overhaul for your bathroom rather than a surface remodel, you may want to consider approaching your bank for a loan, however you should have an accurate estimate of your remodel in mind. The financing option you have in mind is known as a home improvement mortgage, and, based on your credit score, you should be able to get a fairly low-interest loan.

Bring your bathroom remodeling plans with you to show to your banker, and also have several bids from various contractors ready. If your credit history does not make getting a loan feasible, you might consider doing your project one baby step at a time, as you get the money. While not nearly as dramatic as an all-at-once remodel, you can still get the bathroom you've dreamed of although it will take a bit more time.