Are you anticipating selling your home with the help of Stafford real estate agents this year? A top-rated agent in the area will likely tell you that you should stage your home to improve interest from buyers. According to a recent National Association of Realtors (NARS) report, 81 percent of buyers’ agents believe home staging helps potential buyers visualize the property as a future home. In addition to staging your home to sell, your agent may encourage you to make home improvements to critical areas of the house, namely the bathroom. This room could recoup 60 percent or more return on investment from remodeling it when you close on your home. But what is the cost of bathroom remodeling, and what factors influence the price?
Cost of a Bathroom Remodel
When determining the cost of a bathroom remodel, a good rule of thumb established by the National Kitchen and Bath Association (NKBA) is to take 5 to 10 percent off the cost of your home. If your home is worth $250,000, you can expect to pay between $12,000 and $$25,000 for a bathroom. Remember that this cost applies to a primary bathroom in the house, which is typically connected to the main bedroom. For a half bathroom or a powder room, you can expect to pay half of this, $6,000 to $12,500.
Factors Influencing Costs
While you may spend between $12,000 and $25,000 on average, plenty of factors may influence the cost of your bathroom remodel. Here are some factors that could drive your costs up or down.
In real estate, you may hear the mantra, “location, location, location,” which usually implies that the location of a property, whether residential or commercial, matters. This same mantra applies to costs associated with remodeling. Where you are in the U.S., the part of the state you reside in, or even if you’re in the city or a rural area will affect the costs of your bathroom remodel. For instance, a bathroom remodel in Miami could run you between $5,500 and $13,600. A remodel in San Diego could cost between $10,000 and $23,500.
Labor may also affect the price of your remodel. Some may charge by the hour, while others may charge by the square foot.
How fancy do you want your remodel to be? This could cost you. The costs may fall within the range above if you want a basic remodel using traditional bathroom materials. However, if you include higher-quality materials such as marble or granite, this could substantially increase your costs.
How large your bathroom is can also affect your bottom line. Since a powder room is half of a primary bathroom, the costs are typically half that of a primary bathroom. But variations in the size of your primary bathroom can also drive prices up or down.
Touch-up vs. Demolition
Will the contractors upgrading your bathroom simply make cosmetic changes, which involve removing and replacing old materials with new ones? Or will they be gutting the entire bathroom and rearranging the flow? If the latter is true, you may be responsible for demolition charges.
If contractors must do something with the plumbing, electrical, or other elements in the bathroom, you will have to also pay for permits. This could tack on another few hundred dollars to your bottom line.
If you plan to upgrade your home this year, you can expect to pay upwards of $25,000 on an average remodel. But ultimately, what you pay will depend on numerous factors. So, when preparing your budget for your remodel, it is a good idea to include a few thousand more to plan for any contingencies or changes that could arise during the project. You can always DIY your bathroom remodel, but failure to update these could cost you in the long run if you aren’t an expert in plumbing or electrical. Ideally, hiring a contractor to fix such a critical area is a good idea, especially if you are planning to sell your home.