Bathroom remodel remodeling costs

Photo from Solarnovo

 

Update: The economy is still weak, interest rates continue to be at all time lows, but now home values are moving up in many parts of the country.  So what does this mean for you – if you are considering remodeling a bathroom?  It means that it isn’t a bad time at all.  Low interest rates translate into lower costs for you.  A weak economy means that material retailers and contractors are not as busy as they could be which gets you a better price and faster progress on the work once it starts.  So if you are considering remodeling a good first step is to use a home addition calculator – or a bathroom remodel cost estimating tool, get an idea of the costs and if it makes sense then start talking to contractors – we can help you find a contractor – click here to learn more.

Everything seems to be working to the advantage of homeowners who want to remodel their homes right now. A bad economy is driving prices down, some contractors and skilled workers are reducing their rates to stay busy, and there are rebates, tax credits and tax exemptions available for energy-efficient products. When you add up all of the opportunities to save, bathroom remodeling now can cost at least ten percent less.
There are four important ways to save money by remodeling your bathrooms now. In fact, the incentives could make it possible for you to upgrade your bathrooms in ways you never imagined!
First, shop carefully and compare prices on everything you need for the project. The crisis in the housing market, combined with a bad economy, has driven down prices of many building materials. For example:
  • Lumber and plywood prices are at a thirteen-year low.
  • Cabinetry manufacturers have seen sales drop by as much as 40% in the last couple of years and are offering discounts of as much as 50%
  • Drywall prices are down
  • Floor covering prices are being discounted by 10% or more
Shop carefully for the right contractor for your project and keep in mind that many top-notch contractors are discounting their prices now. Learn everything you can about how to save money when you remodel. You can get higher quality materials and workmanship for a lower cost. Be sure to take advantage of the opportunities.
Second, choose environmentally-friendly product options and take advantage of Federal tax credits. The Economic Recovery Act (“American Recovery and Reinvestment Act of 2009”) provides for homeowner tax credits of 30% of the cost of qualifying items for their remodeling (up to a total tax credit of $1,500 per year).

Several items you might need in your remodel include:

  • Either install a storm window over your bathroom windows or upgrade to high-efficiency UV-coated windows.
  • Add an energy-efficient skylight or roof window.
  • Upgrade to better insulation in the walls
  • Choose an energy-efficient spa tub with inline heater
  • Install an instant tankless water heater for the bathroom
  • Put the bathrooms on a separate super-efficient water heater, or upgrade the whole house to a solar water heater
Third, check on State tax credits, as well as rebates and other incentives from utility companies. Most states offer sales tax exemptions, rebates or personal or real estate tax deductions for energy-efficient appliances. Many utility companies also offer an array of financing options, credits and rebates for energy-efficient appliance, lighting and other items. Local water companies also frequently offer rebates or lower rates for homeowners who install water-saving plumbing fixtures. To find out what is available in your city, visit www.dsireusa.org and call your water company.
Finally, once the remodel is complete, enjoy the comfort of your new bathrooms and the knowledge that your choice of efficient products will continue to save you money by reducing your utility bills for as long as you own your home. Choosing energy-efficient and water-saving items for your bathroom remodel will result in lower bills every month, and you will be helping to save the environment.
Shop wisely, looking for bargains, choose environmentally-friendly products, take full advantage of tax credits and other incentives, and discover how bathroom remodeling now can cost at least ten percent less.