The moment you start thinking about updating a bathroom, bathroom renovation costs take center stage. Whether you’re changing a master bath, a guest bath or a powder room, how do you set your expectations appropriately? How much does a bathroom remodel cost, typically speaking? Especially here in the Chicago area? To help answer these questions, here’s a look at the basic cost to remodel a bathroom in the Chicago area. Whether you live in Arlington Heights, Palatine, Wheaton or Naperville, this will help you understand what goes into the new bathroom you desire.
Average Cost to Remodel a Bathroom in the Chicago Area
Updating a bathroom is a big project, even when you’re working with a small space. That’s why, typically speaking, bathroom costs in Chicago can run anywhere between $16,000 for a basic renovation of a full bath to $70,000 for a high-end renovation of the bathroom in a master suite. In exchange for this investment, you get a new bathroom, features customized to your style, and added home value, to boot. Keep in mind, however, that precise costs depend largely on the size of the bathroom and whether it’s a complete or partial remodel.
How Bathroom Remodeling Affects Home Value
There’s no denying that new bathrooms are attractive to potential buyers, and that’s why putting money into a bathroom renovation is truly an investment. According to research from Remodeling Magazine, the average return on an upscale bathroom remodel (one that costs around $60,000) is almost 60 percent in 2017. That means, on average, homeowners who spend a great deal on a bathroom renovation can recoup more than half of those costs in boosted home value.
Best Ways to Determine Remodeling Budget
When you know you want to remodel but aren’t sure how much to spend, there are several factors to consider. Start with your reasons for renovation: Are you primarily updating for personal reasons (i.e., to enjoy your home more and finally have the bathroom you always wanted)? Or, are you mostly interested in financial reasons (i.e., to add value to your home and be able to get a good return on investment)? If your reasons are personal, you’ll want to determine what amenities matter most to you and calculate their costs. If your reasons are financial, think through what amenities add the most value and plan your project around them.
When you’re ready to plan a bathroom remodel in Chicagoland, contact Erdmann Exteriors today for an estimate!