How Much Do Bathroom Renovations Cost In 2024?
Is 2024 the year you renovate your bathroom? If it is, 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 2024.
The average cost of a bathroom renovation in 2024
Based on the results of the 2023 AU Houzz & Home Renovation Trends Study, the median spend on master bathroom projects in 2022 was $19,000. This marked a significant increase from previous years, where the median costs ranged from $12,000 to $15,000.
While we await the upcoming 2024 report, which will provide the 2023 cost data, it’s clear that renovation expenses have been trending upward. Given this trend, we anticipate that the median spend for master bathroom projects in 2024 could rise to around $20,000 to $22,000.
As you plan your renovation, keep these predictions in mind to ensure your budget aligns with current trends.
Historical Cost Trends
Here’s a look at how the median spend on master bathroom renovations has evolved:
| Year | Median Spend |
|---|---|
| 2022 | $19,000.00 |
| 2021 | N/A |
| 2020 | $15,000.00 |
| 2019 | $13,000.00 |
| 2018 | $12,000.00 |
| 2017 | $13,000.00 |
Contrary to the Houzz’s report, the Housing Industry Association’s (HIA) 2022/23 kitchens and bathroom renovation report found the average value for bathrooms installed as part of a renovation to be $26,747 (up from $21,484 in 2021) whereas the average cost of a bathroom installed in new homes was $22,019 (up from $19,028 in 2021). Keep in mind that this is the median cost as opposed to being either the master bathroom or main bathroom of a home and this is 22/23 data, whereas Houzz has only published 2022’s findings, but still, they appear to be far higher than the figures found in Houzz’s reports.
How to determine your bathroom renovation budget?
To take one of the figures mentioned above and use it as a basis for your own bathroom renovation would 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 $900,000, you can spend around $18,000 on the bathroom without overcapitalising. Alternatively, if we go by hipages estimate, a bathroom renovation is estimated to cost between $2,300 and $4,600 per square metre.
Breaking down bathroom renovation costs for 2020
Let’s take a look at where the money goes by breaking the budget into categories; design, materials, and labour.
Bathroom design
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
Bathroom materials
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 products and materials mentioned below all in stock and all available at crazy low prices.
Your bathroom material costs should include:
Bathroom labour
The labour costs should account for around 20% of your bathroom budget. This includes the demolition and removal of the existing bathroom.
Your bathroom labour costs should include:
- Skip bin hire
- Carpentry
- Plumber
- Electrician
- Tiler and Waterproofer
- Painter
Conclusion
There is no set price for a bathroom renovation in 2024, as it depends on many things. However, you can expect it to be between $19,000 and $26,000 or base it on a budget of $2,300 to $4,600 square metre, depending on the quality of finishings.
The materials and products you choose will significantly impact 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!
Read our latest posts, Guide to Perth Bathroom Renovations, for this year’s bathroom renovation tips.
