Purchasing resources for Bathroom Remodeling

Business Guide to Bathroom Remodeling

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Bathrooms are often one of the first rooms that individuals consider when they plan to embark on a remodeling project. This is because bathrooms are typically smaller than most other areas in a home or office, and it usually costs less to remodel a bathroom than it does to remodel most other rooms. This does not mean, however, that bathroom remodeling projects are not expensive. A simple remodel of your tiles and floors can cost you a few thousand dollars. There are many benefits that residential and commercial property owners can experience when they remodel their bathrooms, but there are also many factors to consider before starting the remodeling process.

Benefits

Bathroom remodeling not only provides immediate benefits for homeowners, but it also makes good business sense. Construction equipment and supply contractors can earn high profits selling and installing bathroom fixtures.

Popular home renovation project

Home improvement is booming, and bathrooms are among the most popular choices when homeowners decide which room to work on. According to Forbes, United States homeowners increased their spending on home improvement projects by 43 percent between 2001 and 2005. When these homeowners remodel a bathroom, they can typically recoup 102.2 percent of the cost when they sell the home, making this a popular remodeling project.

Variety of products

When you sell supplies for bathroom remodeling, you can fill a showroom with the wide variety of options available. You can specialize in modern or traditional fixtures, cabinetry, or accessories. Another alternative is to provide customers with the option of having bathroom fixtures custom-made to their specifications.

Financing

The cost of a bathroom remodeling project averages over $26,000, according to Remodeling Magazine's “2005 Cost vs. Value” report. Because remodeling a bathroom is an expensive endeavor, you can offer a variety of financing options to your customers. Bathroom remodeling projects also provide opportunities to a business owner who wants to sign customers up for the company’s credit card or loyalty program. If you work with your clients to establish ways to help them finance their bathroom remodeling projects, they will be more likely to spend more money.

Continued service

Once a customer has committed to buying bathroom fixtures from you, he or she is likely to continue to come to you for future projects. Many customers like working with a contractor they feel comfortable with, so you may later be called upon to help with a kitchen remodeling project or some other home improvement project. You can also offer luxury bathroom accessories, such as heated towel racks, heated floor tiles, and decorative shower tiles, to current customers who are interested in creating luxurious décor.

Pitfalls

Buying the wrong supplies

If you are thinking about remodeling your bathroom without help, make sure you buy the proper supplies. You may experience some problems, such as light fixtures that don’t match and hardware that doesn’t fit. Even professionals make mistakes when remodeling rooms, so if you are an amateur remodeler, you need to be extra cautious. Buying the wrong supplies can cause you to spend extra time, energy, and money on your project.

Plumbing issues

With any bathroom remodeling project, there can be some plumbing complications. You may not find out about problems with your plumbing system until half of your bathroom has been torn apart. This can lead to unexpected costs, and you may need to purchase extra supplies and equipment to fix any issues that arise. You will need to leave some room in your budget for unforeseen plumbing problems.

Customer needs

If the bathroom you’re remodeling is open to your customers, don’t forget to consider their needs. Bathrooms that receive a lot of customer traffic may need multiple stalls, sinks, soap dispensers, and hand dryers. You may need to create additional space by placing stalls and sinks close together to ensure that multiple people can move around at once. This will require a larger financial investment than a private bathroom.

Building code requirements

Whenever you take on a remodeling project at your place of business, remember to think about the building code requirements that are outlined by your local government officials. You must make sure that your bathroom satisfies all local and state requirements. This means that you may need to have a certain amount of space between stalls or drains that slope in a particular way. Your light fixtures must meet specific requirements, as well. If you construct a bathroom that doesn’t meet building code requirements, you may have to rebuild it at your own expense.

Pricing

You can expect a 64.1 percent return on your investment for a bathroom remodeling project, according to the National Association of Realtors. The price you pay to get your bathroom remodeled depends on how extensive the job is and how much of the work you do yourself.

If you opt to do a mid-range remodel of a smaller bathroom, you can expect to spend at least $14,000. For an upscale remodel that involves expanding the bathroom, you can expect to spend at least $46,000, according to CostHelper.

You can save some money if you opt to do some of the work yourself instead of relying solely on a contractor. You can sometimes do a basic remodel for as little as $1,830. The cost will increase if you do extensive work or if you have to rely on a contractor or plumber to complete a portion of it.

Conclusion

If you are unfamiliar with the process of remodeling a bathroom, it is best to call a contractor for an estimate. Most contractors will provide an estimate for free or for a very low cost. Once you receive an estimate from a professional, you’ll know if you can afford to get started immediately. If you desperately need to remodel the bathroom at your place of business, the money you spend on your remodeling project will be a viable business expense, and you may be able to get a loan. However, if your clients never use your bathroom or if the bathroom you plan to remodel is in fairly good condition, consider postponing your bathroom remodeling plans, especially if you are just starting out and have limited funds.