The True Cost of Remodeling Bathrooms
One of the first questions that cross our minds when we are considering a remodeling project is, “how much is this going to cost?” or even “how much do we want to spend?”. In order to answer those questions accurately, not only will you probably need to obtain estimates but a little background on what contractors take into consideration when pricing projects may be helpful as well.
As consumers, we tend to wonder about “hidden costs” and how it affects us. ‘Hidden costs’ associated with a remodeling project estimate may be unseen but not necessarily a secret. If we consider that contractors not only have to buy the materials for your project and pay for the labor to install them, but cover the expenses of all the other things associated with running their business too. Those costs may not directly relate to your individual project, but it certainly does, indirectly. Things like, the following are all expenses that contractors must fork over the dough for in order to even get to your job.
- Vehicle maintenance
- Office staff
I think we can all agree that when it comes to remodeling a room in our home, especially such a high-traffic one like the bathroom, we would certainly want to go with a company that has all of those expenses listed above. While we may not think we should “pay” for those things, it may help to understand any percentage mark-up, (typically 10-20% for each job) contractors may include in an estimate. It makes sense when we consider that like any other business, contractors have to make enough to cover their overhead and make a profit.
According to Remodeling Magazine’s Cost vs. Value report for 2010-2011 the average cost of a bathroom remodeling project is $16,634. Of course your remodeling project may differ based on your needs and wants for your space, but this figure gives you a starting point and an idea of how to answer those first questions we talked about. It also leads us to another, much more important question: Have we done our research?
- Get referrals from people you know and trust
- Do your homework
- Only hire reputable remodeling companies or contractors
You may find someone who says they can do the job for half the cost, but be very cautious and consider the possibility of a not so great job for half the price which leads to redoing your remodel later at full price.