Is 2020 the year you renovate your bathroom? If it is, then you’ll want to know how much it is likely to costs, right? Well, I have done the hard work for you to provide you will a breakdown of bathroom renovation costs in 2020.
The average cost of a bathroom renovation in 2020
Based on the results of Houzz’s Overview of Home Renovation in 2018 and 2019, the median master bathroom renovation spend decreased by -8% from 2017 to 2018. In 2017, the median master bathroom renovation spend was $13,000, while in 2018, homeowners spent $12,000 on average on their master bathroom renovation.
Does this mean that we should expect another decreased of around -8% in 2020? Well, it’s too early to tell, but assuming we do, that would take the median master bathroom renovation cost in 2020 to around $11,000.
It seems we were even more conservative with other bathrooms in the house. The same survey found that the median bathroom (other) renovation spend decreased by -11% from 2017 to 2018. In 2017, the median bathroom (other) renovation spend was $9,000, while in 2018, it was just $8,000.
Should we expect a similar decrease also in 2020? Assuming we do, that would take the median bathroom (other) renovation cost in 2020 to just over $7,000.
In contrary to the Houzz’s Overview of Home Renovation report, the Housing Industry Association’s (HIA) 2018/19 kitchens and bathroom renovation report found the average value for bathrooms installed as part of a renovation to be $19,553 whereas the average cost of a bathroom installed in new homes was $18,798. Keep in mind that this is the median cost as opposed to being either the master bathroom or main bathroom of a home, but still, they appear to be far higher than the figures found in Houzz’s Overview of Home Renovation.
How to determine your kitchen renovation budget?
To take one of the figures mentioned above and use it as a basis for your own bathroom renovation ould be misguided. Many factors will alter the price of a bathroom renovation – the size of the space, is the bathroom being moved or re-configured, the quality of materials and finishes used etc.
As a rule of thumb, you should not spend more than 2 per cent of a home’s value on a bathroom renovation. Therefore, if your home is worth $500,000, you can spend around $10,000 on the bathroom without overcapitalising. The cost of a bathroom renovation can also be estimated at $3,000 per square metre.
Breaking down kitchen renovation costs for 2020
Let’s take a look at where the money goes by breaking the budget into categories; design, materials, and labour.
The design costs should account for around 5% of your bathroom budget. Design costs can go as high as 10% if an architect is needed.
Your bathroom design costs should include:
- Architect – will be required if you are looking to move the location of your bathroom
- Council permit application – any renovation work involving structural alterations or relocating of services will require a building permit to be obtained
- Bathroom Designer
The material costs should account for around 75% of your bathroom budget. Your choice of materials and bathroom products will determine the overall look of your finished product, but will also greatly impact your budget. For those on a smaller budget, look to purchase quality products at affordable prices, such as the vast range of bathroom products on offer at Ross’s Discount Home Centre. We have all the product and materials mentioned below, all in stock, and all available at crazy low prices.
Your bathroom material costs should include:
The labour costs should account for around 20% of your bathroom budget. This includes demolition and removal of the existing bathroom.
Your bathroom labour costs should include:
- Skip bin hire
- Tiler and Waterproofer
There is no set price for a bathroom renovation in 2020 as it depends on many things. However, you can expect it to be between $10,000 and $20,000 or base it on $3,000 per square metre.
The materials and products you choose will have the most significant impact on the overall cost of a bathroom renovation as they account for 70% of the budget. For a conservative budget, be sure to shop at Ross’s Discount Home Centre for all your bathroom needs. We have a massive range of high-quality bathroom products in stock at very affordable rates – just what you need to not go over budget!