How To Plan Your Bathroom Remodel Budget In Boston
On February, 19, 2018
Home improvement is always a great investment, but it always starts with budget planning. Remodeling or adding onto your Boston home can raise its resale value tremendously and help you create a more comfortable and attractive living space. But it doesn’t have to have a high cost to yield a great reward.
If you are looking for a bathroom remodel that will improve your home and the time you spend there but don’t have several thousand dollars to sink into it, don’t worry. Especially with small bathroom remodels, you don’t have to break the bank to make a great improvement, and Hillcrest Development, Inc. can work with you no matter size project you need.
Here are some of the ways you can have a bathroom remodeling done while making sure that you don’t overspend on the job.
What Can & Should You Plan The Budget For?
Upscale bathroom remodeling can cost around $22,000 on average and the typical cost is around $6,000 to $14,000. But, of course, the actual amount spent by individual homeowners varies a lot. The amount that you are able to spend, willing to spend, or would be wise to spend depends on your financial situation, your Boston home, and your family’s lifestyle. Take an honest look at your financial situation and figure out how much you can realistically spend.
You should also consider the amount of time in which you plan to continue living in your home. If it’s five years or less, then you’ll want to chiefly consider the return on your investment that you’ll see when you sell your home. On the other hand, if you plan on staying in your home for more than 5 years, you’ll want to mainly think about the comfort and enjoyment that you and your family will get out of the new space.
One consideration will be how much value you can add to your home without going overboard. If you ever do sell, you want to be able to recoup your remodeling investment. Real estate professionals compare houses in the neighborhood and investigate the current market trends to estimate the value of a home going on the market. Other than putting your house on the market to find out what would be going overboard, this is where a general contractor can help you the most.
Cut Costs Wherever You’re Able To
When you’re planning the design of your bathroom remodel, don’t forget to account for labor costs. Usually, labor accounts for about 1/3 of the costs of the entire project. If you need to cut costs, start with any amenities that would be nice, but aren’t necessary.
If you are working with a smaller budget, figure out what essentials your project needs, and see how much more room you have for any additional features. This may mean sacrificing a luxurious new sink to make sure that the flooring is adequate, but in the end, the essential features are what you’ll value most.
Leave Some Room for the Unexpected
Any time you’re having your Boston home’s bathroom remodeled, especially if the room is older, you’ll want to watch for any unexpected problems. Plumbing problems are especially common in older bathrooms. Once you’ve gotten ready to redo flooring and install new fixtures, you may start to find there are some budget-busting plumbing problems that you had no idea of. So it’s wise to make sure you’ve left a little wiggle room in your budget for any unexpected problems that may crop up.
Our Boston remodeling contractors at 1st Choice Home Improvement Associates recommend you have around 10% of your budget reserved for unexpected problems. And if at the end of the job you haven’t had to spend it, you can look at adding on a few of the more luxurious features that you cut out over budget concerns in the beginning. Let’s talk in person about your project. We can come take a look at your existing space and find out what you’re looking for in a new bathroom remodel.