Want to turn your boring bathroom into a glamorous spa retreat?
Knowing how to budget is key to getting the job done right—without going broke.
Here are 3 simple rules you should follow.
Rule 1: Budget based on home value
Consumer Reports gives a good rule of thumb for total remodeling cost: it should based on 5%-10% of your home’s value.
So if your home is worth $200,000, then the remodel will probably cost about $10,000 to $20,000.
According to the 2014 Cost vs Value report, the average bathroom remodel in Atlanta, Georgia costs $15,941.
The resale value is $11,674, which means you recoup about 73.2% of the cost.
Rule 2: Split the budget appropriately
According to the National Kitchen and Bath Association (NKBA), your bathroom remodel budget should be portioned out like this:
- Labor: 20%
- Cabinetry and hardware: 16%
- Fixtures: 15 %
- Faucets and plumbing: 14%
- Floor: 9%
- Countertop: 7%
- Walls and ceiling: 5%
- Lighting and ventilation: 5%
- Doors and windows: 4%
- Design fees: 4%
- Other: 1%
So let’s assume your remodel budget is $15,000. You may split your budget like this.
- Labor: $3,000
- Cabinetry and hardware: $2,400
- Fixtures: $2,250
- Faucets and plumbing: $2,100
- Floor: $1,350
- Countertop: $1,050
- Walls and ceiling: $750
- Lighting and ventilation: $750
- Doors and windows: $600
- Design fees: $600
- Other: $15
Rule 3: Find good labor
Imagine you go to a restaurant where they use the finest ingredients, but the food tastes frightful. All it takes is a crummy chef to screw up a prime meal.
Similarly, all it takes is inept plumbers to ruin an entire bathroom remodel (though there’s way more money on the line than a simple meal).
That why you shouldn’t skimp on good labor. It’s no wonder why the largest percentage of the budget is allotted there—to ensure the job is done right.