You would be among thousands of American homeowners who invest more than $400 billion a year renovating their homes when you are about to refresh your house or make crucial upgrades to your bathroom.
According to the 2020 Expense vs. Value Survey of Remodeling Magazine, the ratio tied to the cost of a midrange bathroom remodel against the value it maintains is 64 percent. Generally speaking, contrary to 2019 patterns, there has been a modest decline in return on investment. Consumer jitters are the most possible explanation. These patterns rely on work creation, levels of unemployment, the U.S. Gross national product and worldwide dependencies (trade wars and imports).
How Much Does a Bathroom Remodel Cost?
“According to Remodeling Magazine’s 2020 Expense vs. Benefit Survey, the estimated cost for a “midrange” bathroom remodel is just over $21,000. Updating an existing 5-by-7-foot bathroom with a ceramic tile floor can require a midrange bathroom remodel. The work consists of substituting fixtures with:
- A standard white toilet
- A solid-surface vanity counter with a sink
- A recessed medicine cabinet that includes a light
- A 30-by-60-inch porcelain-on-steel tub including 4-by-4-inch ceramic tile surrounding it
- A new, single-level shower control
With costs costing just over $67,000 to install, an upscale bathroom remodel will cost you three times as much. The job includes extending to 100 square feet a current 35-square-foot bathroom; incorporating in-floor ventilation and heated towel bars; building a 42-by-42-inch neo-angle shower with a recessed shower caddy, body-spray fixtures, and frameless glass enclosure; installing a high-end freestanding soaker pool, a storage area with a toilet, plus many other enhancements. For each form of remodeling, take a look at the cost versus value data.
A mid-range bathroom remodel:
- Cost: $21,377
- Value: $13,688
- Costs recouped: 64%
An upscale bathroom remodel:
- Cost: $67,103
- Value: $37,995
- Costs recouped: 57%
Breaking Down Bathroom Remodeling Costs
Some large price tags arrive with bathroom remodels. But when you remodel a bathroom in your house, what exactly do you budget for? According to the home renovation resource HomeAdvisor, here are some itemized averages on what you might spend for the different amenities your new bathroom would use, from the low end to the high end:
- Bathtub: $400 to $8,000
- Cabinets: $1,200 to $13,000
- Countertops: $900 to $6,500
- Flooring: $800 to $7,000
- Lighting fixtures: $120 to $4,000
- Shower: $450 to $10,000
- Sink: $190 to $6,500
- Toilet: $130 to $780
Bear in mind that the labor used in your bathroom remodel would need to represent a massive chunk of your costs, which may take up 50 percent of the overall cost or more. Interested in a bathroom renovation for your Phoenix home then call 1 Day Bath Arizona!