Still waiting on your dream bathroom? You're not alone — in 2019, about 43% of Canadians underwent a DIY home remodeling project.

However, figuring out the budget for a bathroom modeling project can be tricky, and the last thing you want to do is overspend.

Luckily, we've put together this guide that will:

• Go over the average costs of a bathroom
• Factors that will influence your budget
• Potential savings and budget-friendly options
• ROI on renovations
• Budgeting and planning tops

By the way — if you're a homeowner, you can use your home's equity to help finance your remodel. Lotly helps homeowners tap into the value of their property to get more favourable rates and terms on loans and lines of credit, with help from our network of 50+ lenders nationwide. Get in touch today to see if it's the right fit for you!

Average costs for a bathroom remodel

The average cost for a bathroom remodel or renovation in Canada is $13,393.  This cost can vary greatly depending on the size of your bathroom, the materials and fixtures you choose, and if you are making any structural changes.

Homeowners typically spend between $5,900 to $15,100 for a small bathroom remodel (less than 70 square feet), while a large master bathroom remodel (over 100 square feet) can cost upwards of $25,000.

Costs and factors that will influence your total budget

Figuring out how much to budget for your bathroom renovation can be tricky. Lots of factors contribute to the overall cost of a bathroom remodel, including:

• Size: The size of your bathroom will play a significant role in determining the cost. A larger space will require more materials and labor, leading to a higher cost.
• Fixtures and materials: The type and quality of materials you choose will also impact your budget. For example, using high-end fixtures and finishes will be more expensive than basic options.
• Labor: The cost of labor can vary depending on where you live and the complexity of your project.
• Type of remodel:  As mentioned earlier, a total renovation will typically cost more compared to a light remodel due to the level of work involved.

Let's dive into each one a bit more:

The impact of bathroom size on remodeling costs

Bathrooms come in all shapes and sizes, so it's no surprise that size is a major factor in the cost of a remodel. Smaller bathrooms will inevitably require less materials and labor, lowering overall costs.

On average, the cost per square foot for a bathroom remodel ranges from $70 to $250. This means the smaller your bathroom, the less you can expect to pay. However, keep in mind that some costs may stay consistent regardless of size (i.e., plumbing or electrical work), so be sure to get quotes from multiple contractors before making any decisions.

Specific fixtures and materials

When we talk about fixtures and materials, we mean things like:

• Countertops: The cost can vary greatly depending on the material you choose, such as granite or marble.
• Flooring: From ceramic tile to hardwood, your options (and potential budget range) are endless.
• Cabinets and vanities: Are you going for a simple and functional design or a high-end custom look? This will also determine how much you spend on cabinetry and vanities.
• Lighting: The type of lighting fixtures you choose, whether it's basic overhead lighting or decorative sconces, can add up in cost.

When it comes to materials, keep in mind that higher-quality options will generally come with a higher price tag. However, these more expensive materials may also last longer and require

Labour costs of bathroom remodeling

Aside from materials, the most considerable cost of a bathroom remodel is labor. Labour from someone like a remodeling contractor might be priced hourly ($80-125/hour) or as a percentage of project cost (10-25%)

This may seem like a steep price, but remember that this includes skilled professionals trained and experienced in all aspects of bathroom remodeling.

Some factors that may affect labor costs include:

• The size and complexity of the project: A complete bathroom renovation will require more time and skill compared to a simple update.
• Accessibility: If your bathroom is located on a higher floor or has limited access, it may increase the amount of time and effort required for the project.
• Unforeseen issues: If your home is older, unexpected problems may arise during the renovation process, such as plumbing or electrical issues. This can add to labor costs if additional work is needed to address these issues.
• Location and availability of contractors: Labor costs may vary depending on where you live and the availability of skilled contractors in your area.

Carefully consider and budget for labor costs when planning a bathroom remodel. Hiring a professional contractor can save you time, stress, and ensure the job is done correctly.

Costs for different types of bathroom remodels

Finally, it's also important to understand that labor costs can vary depending on the type of bathroom remodel you are undertaking. 

Here are some general estimates for different types of bathroom remodels:

• Basic bathroom update: This typically includes replacing fixtures, like the toilet, sink, and bathtub/shower. Labor costs can range from $1,500-$4,000.
• Mid-range bathroom remodel: In addition to new fixtures, this may include updating flooring, countertops, and adding a new vanity. Labor costs can range from $5,000-$15,000.
• Luxury bathroom remodel: This could involve major changes such as expanding the size of the bathroom or installing high-end materials and features. Labor costs can range from $15,000-$50,000 or more.

You should know what kind of renovation you are looking for and what your budget is before starting the project. This will help you plan accordingly and avoid any unexpected costs.

Potential savings and budget-friendly options for remodeling

Here are some tips and tricks for keeping a bathroom model within budget:

• DIY projects: If you have some experience with home renovations, you can save money by doing certain tasks yourself, such as painting or installing new fixtures.
• Shop sales and discounts: Keep an eye out for sales and discounts at home improvement stores. This can help you save money on materials and fixtures, instead of relying on your contractors to do all the sourcing.
• Consider alternative materials: Instead of expensive, high-end materials, consider more budget-friendly options that still offer similar looks and quality — for example, using porcelain tile instead of marble.
• Reface instead of replace: In some cases, refacing or refinishing existing cabinets and fixtures may be more cost-effective than replacing them altogether.

Additional considerations for bathroom remodeling

When planning a bathroom remodel, there are a few essential factors to keep in mind:

• Functionality: Consider how you use the space and ensure the layout and design cater to your specific needs.
• Ventilation: Proper ventilation is essential in a bathroom to prevent mold and mildew. Include an exhaust fan or other ventilation system in your remodel plans.
• Storage: Adequate storage is essential in any bathroom. Consider incorporating built-in shelving or adding storage solutions such as cabinets or shelves.
• Lighting: Good lighting can make all the difference in a bathroom's overall look and feel. Plan for both natural and artificial lighting sources.
• Water efficiency: As you update fixtures and appliances, consider choosing water-efficient options to save money on utility bills in the long run.
• Safety: Ensure your bathroom is safe, especially if you have young children or elderly individuals living in the home. Consider installing grab bars, non-slip flooring, and other safety features.
• Permits and regulations: Depending on the extent of your remodel, you may need to obtain permits or adhere to specific building codes and regulations. Make sure to research these requirements before starting any work. 

With these considerations in mind, you can create a functional and stylish bathroom remodel that fits your budget. Remember to carefully plan and budget for materials, labor, and potential unexpected costs to ensure a successful project.

What is the return on investment (ROI) for bathroom remodels?

The return on investment (ROI) for bathroom remodels can vary depending on the scope and cost of the project, as well as the local real estate market.

First of all — what is ROI? Generally speaking, ROI is a measure of the profitability of an investment. In this case, we are looking at the potential return on your investment in a bathroom remodel.

Bathroom remodels provide ROI in a few different ways:

• Increased home value: A well-executed and aesthetically appealing bathroom remodel can increase the overall value of your home. Keep this in mind if you plan on selling your home in the future.
• Attractiveness to buyers: Even if you're not planning on selling your home, a beautiful and functional bathroom can make it more attractive to potential buyers down the road. This can also lead to a higher sale price for your home.
• Cost savings: As mentioned before, updating fixtures and appliances with water-efficient options can save you money on utility bills in the long run. Additionally, fixing any existing structural or plumbing issues during a remodel can prevent costly repairs in the future.

Generally, a mid-range remodel may have an ROI of around 60-70%. However, remember that these numbers are just estimates and can vary greatly.

Tips for planning and budgeting for your bathroom remodel

• Set a realistic budget: Determine how much you can afford to spend and stick to it. Don't forget to factor in potential unexpected costs.
• Prioritize your needs: List the must-have elements in your new bathroom, such as a larger shower or double vanity, and prioritize them over wants.
• Research materials and labor costs: Get estimates from multiple contractors, and be sure to research the cost of materials before making any purchases.
• Consider DIY options: If you have some handy skills, consider tackling certain projects yourself to save on labor costs.
• Plan for potential disruptions: Remember that a bathroom remodel can take several weeks or even months, so plan accordingly for alternative bathing arrangements.
• Be open to alternative design options: If certain materials or features are too expensive, explore other options that may still achieve the look and functionality you desire.

Get the bathroom of your dreams with Lotly

Let's recap all we've covered so far:

• Expect wide cost variations for bathroom remodels based on size and scope. A small bathroom can cost between $5,900-$15,100, while a large master bathroom remodel may exceed $25,000.
• Labor, materials, and project type are key factors in remodeling costs. High-end fixtures and complex renovations will increase costs, while DIY efforts and alternative materials can help reduce expenses.
• Proper planning and budgeting are crucial for a successful bathroom remodel. Set a realistic budget, research costs, and prioritize essential features to achieve a good balance between functionality and style.

If you're a homeowner, financing your bathroom remodel with your home equity might be the perfect solution to your budget needs. A renovation loan backed by your ownership in your property can provide you with better rates and more favourable terms — and best of all, it actually increases the value of your home in the long run.

Lotly works with over 50 loan providers across Canada to find the best loan solutions for your financial health. Book a free consultation today to see how we can help.

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