Whatever the reason for your bathroom renovation, you should set yourself up for success by preparing for what could easily become a major financial commitment. Learn if your bathroom renovation is worth the investment and read our top 5 tips to avoid costly renovations before embarking on your project.
Is It Worth It?
Well, this depends on the purpose of your bathroom renovation. If it is entirely personal and you want to upgrade your existing bathroom, then it can be worth it. If it's to add resale value to your home, you may want to consider some numbers first.
Some costs to expect in a typical bathroom renovation can be anywhere between hacking, masonry, carpentry, electrical, materials, and plumbing. Your primary interest will be a return on investment (ROI) if you are looking to renovate your bathroom before selling your home. It is important to know that the average return on bathroom renovation projects is around 70%. This isn't the lowest ROI, but it can become an expensive endeavor. You may better answer the question—is it worth it—if you can cut costs on your bathroom renovation while taking advantage of the ROI.
1. Research Bathroom Styles and Materials and Know Your Numbers
It can be overwhelming to choose between the many different styles and materials available. However, make sure to consider the average cost related to the various styles and materials most commonly used in Singapore bathrooms before you decide.
Use the figures above to give yourself a ballpark range, and visit different vendors and suppliers for quotes. Having a style and the types of materials in mind before speaking with a designer makes the initial visit go smoother and sets the tone throughout the renovation process.
2. Set your Priorities Before Meeting With a Designer
Another tip before you meet with a designer is to have a clear rank order of what features are most important to your new bathroom. Your priorities can always change, but some extra preparation will expedite the design process. Knowing what isn't a focus will help you and your designer know where you can cut costs and splurge in your new design.
If you are on a tight budget and are not looking to compromise, there are renovation loans available. However, knowing that upgrading your toilet and bathtub is a priority, for example, might help find the right design that complements your existing tiles or light fixtures—saving you money. In the end, your renovation priorities strongly influence whether your bathroom renovation was worth it and cost-effective.
3. Keep Your Plumbing Where It Is
One big cost saving tactic is to keep your plumbing where it is. Major structural changes, particularly with your plumbing, can quickly increase your total bathroom renovation budget.
The above table shows a few typical costs to consider when moving the plumbing in a bathroom. Moving your plumbing is not to be confused with replacing your plumbing. As pipes get old, the renovation project is an excellent opportunity to replace some old pipes.
4. Source What Materials You Can
The job of the designer will also be to recommend materials to you. If the designer is worth their weight, they will provide solid recommendations and include cost saving options. That being said, it is good practice to do a little research.
Consultations with a designer typically does not include sourcing raw materials like granite or second-hand fixtures for sinks, faucets, and lights. Taking this into your own hands can end up saving you cash per square foot. Check out some Singapore estate sales to find hidden treasures like vintage bathroom vanities and more.
5. Refresh vs Renovate
Maybe you are looking for a change but unsure how extensive a renovation project you want to tackle. In this case, consider refreshing features of your bathroom instead of completely renovating the space. For example, it is understandably challenging to look at old worn-out tiles. Instead of replacing them, refinishing them can bring back their classic look while not hurting your pocket.
Similar to the sink or bathroom vanity. Refinishing the countertops and paint on the sink and vanity is significantly cheaper than replacing them. If you are looking to replace, replacing the facets can transform how you interact and enjoy your existing sink or tub. As a homeowner, exercise your control over your bathroom renovation project, and you will be surprised with the potential cost savings.
This guest post is contributed by Stephen Lee at ValueChampion
