Adding a new bathroom to your home means convenience for your family now and added value when you sell your home. According to the National Association of Realtors, a new bathroom is one of the best projects to improve the value of your home. As with any investment project, cost is a major factor in your decision.
How Much Does it Cost?
There are too many variables to pinpoint a cost for converting a bedroom (or part of a bedroom) into a bathroom. A full bath is more expensive than a half bath. Your selection of fixtures, counters and storage can keep the price low or drive it high. Some projects will require extensive demolition, while others very little. The region you live in will also have an effect on how much it costs, as will how much you do yourself.
The range for a standard bathroom addition runs between $15,000 and $47,000.
When planning your new bathroom, you will need to make decisions about all of the following components: structural walls, wall surface, wall decoration, floor covering, plumbing for toilet, sink and bathtub, the toilet, the sink, the bathtub, ventilation, mirrors, counters, cabinets and lighting. Also consider what you'll need to remove from the original bedroom. This can include carpet, subflooring, wallpaper, doors, even entire walls.
For each component you can go for inexpensive, average and high-quality options. For many, there are hundreds of choices to be made, each of which will have an effect on the bottom line. For instance, a particle board cabinet with a Formica counter will cost far less than a hardwood cabinet with a cultured granite countertop. Most home improvement centers have staff who can walk you through the basics and help you come up with a general range for your project.
When figuring out your budget, you need to look at two kinds of cost. First is the actual cash price of performing your conversion. This will tell you if it's within your means at the time. Though it's often easy to get financing for the project, remember to include interest in your budget calculations.
The second consideration is the cost compared to the added sale value to your home. Any local realty office will be able to give you or direct you to information about raising property value in your area. Remind them to take into account any change to the number or size of bedrooms caused by your renovation. Unless you replaced an entire bedroom, the change should be fairly minimal.
Compare your cash cost to the value the bathroom could add to your home. Though not as important as whether or not you can afford it outright, this information is still valuable.