The industry standard for a bathroom remodel budget depends on your home’s current value. Budget from 5% to 10% of your home’s value and you’ll avoid under and overspending to get the best return on investment (ROI) for your project.
Where your bathroom will fall in that range will depend on the size, type, and current condition of the bathroom. A primary, or master, bathroom will fall at the top of this range whereas a half bath will fall on the lower end. So, if your home is currently worth $1M, expect your bathroom remodeling budget to be from $50,000 to $100,000 in Cleveland, Ohio.
Of course, there are always exceptions to the rule! Extensive water damage, a particularly outdated bathroom, or an exceptionally drastic change in the layout will cause your bathroom remodel cost to go beyond the standard 10%. The finishes and amenities you choose will also set your cost higher than the average. Incorporating smart features, a steam shower, in-floor radiant heating, and high-end finishes will bring higher costs but also an increased quality of life.