So, you are about to start a bathroom renovation project and wondering where to start. Setting up a budget seems like the rational first thing to do. However, if this is your first time, or you haven’t been involved in any construction-related work recently, you probably have no idea what to expect. You would also be unaware of the amount of money that has to be pumped in.
This part of budgeting is especially tricky when it comes to bathrooms.
The bathroom is a very special room. It’s that common from your home that everyone needs a little privacy in there. When it comes to privacy, however, people have different ideas in mind. So, coming up with something comfortable for everyone in your family, yet money-wise appropriate might be a hard thing to do. Here’s what you should have in mind when setting up the budget.
1. How much do you have?
Have you been setting aside money for that renovation or you are planning to use your holiday bonus? Maybe you’re thinking about a loan? Before anything, you should think of how much you are willing to spend and where that money is going to come from. If you don’t know your source of cash flow, you won’t be able to plan things accurately. And these projects always come with surprises.
2. How much you want to spend?
Now, just because you have a certain amount of money, it doesn’t mean you should spend them all. Make sure you have the long-term plan picture in your mind and do the rational thing. It’s also important to understand that everything is still hypothetical. First, you had to establish the maximum amount you can have and now think about how much of that amount you are willing to give for that future bathroom.
Of course, different contractors charge differently, different materials cost differently, etc. However, there are specific online bathroom renovation cost calculators that help you understand the industry these days and at least give you a rough idea about your future remodeling project’s cost.
3. Quality or quantity
The truth is there is no right answer for this one. It is really up to you, you can easily squeeze 2 or even 3 sinks but do you actually need them? Well, that may be too obvious but let’s talk about that decorative and luxury tile. Maybe the golden ornament in the mirror is worth it for the sake of the better insulation to the guest room? Once again, there is no right or wrong, just make sure you are clear about what you want and decide on compromising among family members. You don’t want to stress things out unexpectedly during the actual renovation process.
4. What could go wrong?
Renovation projects are known for unexpected problems. Could be an electrical issue, could be a new leak in the basement, could be newly discovered mold. Whatever it is, you should expect changes, and it is recommended to set aside an extra 20% of your already planned budget.
Whether you like it or not, budgeting is an integral part of any renovation project, and this is especially true for the bathrooms as well. Be sure to think about all aspects and plan things through.