Without a doubt, kitchens and bathrooms are the spaces that sell a home. They are often the deal-makers or the deal-breakers for homeowners. Investing in a kitchen or bath renovation is not only something you and your family can enjoy now, but it will bring the most return-on-investment when it comes time to sell.
But planning the remodel isn’t always easy, especially when figuring out the budget. In fact, per square foot, no room in the house takes more work or costs more money to remodel than the bathroom. The combination of plumbing, moisture content, electrical wiring, and decorating schemes packed into the smallest residential spaces create unique demands. However, these same demands also place the most value on bathroom spaces.
National Average Bathroom Remodel Costs
Tri-State Area Average Bathroom Remodel Costs
As noted in the graphs above provided by HomeAdvisor, the average cost of remodeling a bathroom is higher in our area of the country. This directly reflects the cost of living in this area.
How to Allocate Your Bathroom Remodel Budget
Bathroom remodeling is a more labor-intensive process between tearing out old bathroom amenities and tedious tile and plumbing installation. In general, 60-70 percent of bathroom remodel costs are labor and expenses and about 30-40 percent is finished product. Experts advise spending between 5% to 15% of your home’s value on an bathroom remodel. If you have $350,000 home, this means you should plan to spend $17,500 to $52,500 on your bathroom.
Experts from the NKBA (National Kitchen & Bath Association) breakdown the general bathroom remodel budget to be as follows:
- 40% for labor
- 25% for cabinetry and countertops
- 20% for plumbing fixtures
- 10% for lighting
- 5% for the unexpected
At NJ Kitchens and Baths, a small 3 piece Bathroom (about 50 sq ft) will cost about the following:
– Construction $13,000 – $15,000
– Fixtures $1,500 – $ 2,000
– Cabinet and Countertops $ 1,000 – $ 2,000
– Tile $ 1,000 – $ 2,000
A Plan For Success
Doing a remodel doesn’t have to be a stressful experience. By hiring a pro you trust, many of the small details fall on their plate, leaving you with less worry. Be sure to discuss budgets clearly and openly from the beginning. You don’t always need to spend a lot to get what you want. Things like plumbing and electrical are just as important as the finished you love, if not more. Make a list of your priorities for the space. Changing a layout automatically increased what will be spent, so if you can avoid that you’ll save.
Best of luck on your bathroom remodel!
