Committing to a bathroom remodel is no joke
Even a simple bathroom remodeling project takes a lot of planning, time, and commitment.
For some people, that dream bathroom is also going to cost more than that they might have. But many will consider that cost as an investment into their perfect bathroom. That is why it is so important to carefully look at your financing options before committing to anything big.
The first thing to look at is how big a project you are planning. According to Home Advisor and Angie’s List, the average price to remodel a bathroom is around $10,000. If you are looking to do minor remodeling, the average is around $6,000, with the lowest price found around $2,000. But that is only for minor remodels.
Higher end remodels, like those to master bathrooms, typically cost up to $25,000 with more extensive projects rising as high as $50,000.
Before figuring anything else out, decide how extensive a project this is and how much you are willing to spend because that will dictate your finance options for a bathroom remodeling.
Once you have figured out the scope of your project, you can start looking at options.
Minor Bathroom Remodel Financing
DELIVERY METHODS FOR BATHROOM REMODELING
But before you start putting money down, you need to figure out how you are going to implement your remodel with designers and contractors. This is commonly called a delivery method or contractual format, and though there are many, there are two that are the most popular (and most cost effective) models.
DBB often seems like the most cost-effective method since the owner is the one in charge. Essentially, you will contract out a design firm to work out the logistics of your remodel. Once you have that, you present the design to contractors in the bid phase. Contractors then bid to take on the job and implement the final design.
For owners who want to closely manage their remodel, this might be a good choice. However, there are pretty big risks associated with DBB. The biggest risk is that unlike other models, the designers and contractors have no obligation to one another. If anything goes wrong with implementing the design documents, it is all on the owner.
DB is the second most common delivery method for a remodel, and it is by far the safer of the options. Unlike DBB, the owner works with just a single contractor. Planning and communication with that contractor is paramount since the owner won’t be bidding to several companies with design documents.
The risk of the remodel also falls squarely on the contractor’s shoulders. If both parties have communicated an effective design and plan, then it is up to the contractor, not the owner, to make sure it works out.
Studies by the Construction Industry Institute (CII) and American Society of Civil Engineers (ASCE) have found that DB outperforms DBB in cost, schedule control, number of change orders, and quality of end product.
My Experience with Design-Build
I can personally attest to the power of Design-Build. I’ve been doing bathroom remodeling here in Salem, Oregon for over 20 years, and time and again I have seen DBB has cost owners. Finding a contractor who communicates your needs is far more important than one that promises the bottom line on a remodel, especially if it is at the cost of quality.
If you are still unsure about what delivery method is right for you, or your options, please don’t hesitate to call me at (503) 851-8489