After a year like 2020, if you wanted to turn your home into a haven from the chaos outside, you would be in good company. Many homeowners spent months inside and decided that 2021 will be the year to perfect their living spaces. For a lot of people, it begins with the bathroom. In 2021, trends guide you into making the bathroom a spa-like retreat from the world. Warm colors, soaker tubs, and heated flooring are great ways to turn up the dial on comfort.
Of course, before you start any home remodeling project, you’ll probably want to get a sense of the cost. Although every project is unique, it is wise to do a little research into the right budget for your dream bathroom. We compiled figures based on our own past projects and regional data from the Remodeling Cost vs. Value Report. Use this information for these three categories of projects to help guide your planning.
Average Cost: $27,462
Average Resale: $20,624
Average ROI: 75.1%
Every bathroom needs an update on occasion. If you are trying to keep your budget to a manageable level and you do not have a ton of space to work with, you might consider a midrange bathroom remodel. This project maintains a standard 35 square-foot bathroom size. Within the space, virtually everything but the walls is new.
In a sample project at this price point, you can start with a porcelain-enameled steel tub with a tile surround and basic controls for the shower. This project includes a solid-surface vanity with a built-in sink for easy cleaning. A basic toilet, ceramic tile, and low-maintenance wallpaper complete the package. You can expect the best ROI for this project.
Average Cost: $70,152
Average Resale: $41,404
Average ROI: 59.7%
If your budget can stretch to the occasion, an upscale bathroom remodel might be just the ticket. For this project, you will probably need the room to expand. As an example, you can turn the standard 5’ x 7’ bathroom into a roomy 100 square feet. Within this space, many things are possible. Start with a generous vanity with stone countertops and matching sinks. Convert the tub-shower combo into a glass-enclosed shower with a freestanding soaker tub. A separate toilet space provides additional privacy. With ceramic tile flooring and in-floor heating, the result offers much more luxury.
This layout is only an example of the places you can take an upscale bathroom to remodel. As part of a larger master suite renovation, you can turn your bathroom into an expansive relaxation space. Room for seating and a wet bar? You decide. The ROI for upscale renovations tends to be a little lower than other bathroom projects but often makes up for itself with enjoyment.
Average Cost: $44,192
Average Resale: $30,404
Average ROI: 68.8%
For many homeowners, being able to stay in their homes as they get older is vital. A universal design bathroom remodel emphasizes accessibility for people who need mobility supports, while providing a bathroom that anyone can use with greater ease. In essence, this project provides sufficient space and reduces obstacles for wheelchair users.
To exemplify the features of this renovation, you can begin with standard bathroom dimensions and reorganize them for a better flow. The door width expands to 36” with zero thresholds. Storage, light switches, and countertops relocate to places easy to reach from a sitting position. A curbless walk-in shower replaces the bathtub, with a glass enclosure and door that swings in both directions. A comfort-height toilet with a bidet improves accessibility. Increased lighting options and radiant flooring complete the project. The ROI for universal design reflects higher demand for homes that allow people to age in place.
These projects serve to help you determine what you are likely to spend for certain types of upgrades. Your project may be a combination of these or fall somewhere in between midrange and upscale. If you’re not sure which one to choose, you might want to keep these factors in mind:
Before you set a budget, it is worth considering your expectations. If you really want a beautiful bathroom that you can relax in for hours, you may be happier with luxury choices. If you spend very little time in the bathroom, you may not need the upscale finishes.
Getting excited about your bathroom project? You need an experienced team like Peacock & Company. Read about the latest bathroom remodeling trends, and browse our gallery to get ideas. To find out how we can help you turn your bathroom into everything you wanted, schedule a free consultation.
(The figures above are taken from the Remodeling 2020 Cost vs. Value Report [www.costvsvalue.com] from various cities in the East North Central region. © 2020 Hanley Wood Media Inc. You can download the complete data from the Remodeling 2020 Cost vs. Value Report free of charge at www.costvsvalue.com.)