The first bathroom that I ever remodeled cost $1800. That was a new bathtub, flooring, cabinet, sink, faucet, toilet, tiled tub surround and bathtub fixtures. Oh yeah, that included all of the labor and demolition also. $65,000 for a bathroom remodel, you’ve got to be out of your mind. I know that’s what you’re thinking, but there’s more.
My dad bought his first house for $9,000 and a second house for $29,000 and his third house for $125,000. My dad’s $125,000 house is worth about $600,000 today so I guess he could afford to put a $65,000 bathroom in it, couldn’t he.
It’s hard to imagine that my dad could have bought his first and second home, plus another house similarly priced, for about the same price these people paid for one bathroom remodel. Does this mean that 20 years from now, people will be paying over $100,000 to have their bathrooms remodeled? Unbelievable and the numbers are continuing to grow as building material and labor prices keep climbing.
I didn’t work on the project, a friend of mine was telling me about it. I asked him if I could get a picture of it or actually see it. He said that he would have to get back with me on that and later on, he told me that I couldn’t see it and they didn’t want me to see any pictures of the project, because I was the competition. Whatever…
I understood where they were coming from, even though I wouldn’t have done that to another contractor. I often wonder what that $65,000 bathroom looked like, even though I never got to see it. I still can’t imagine someone paying $65,000 to have their bathroom remodeled, but I don’t think it will be long before your average bathroom remodels are ranging between 30 and $70,000.
If you’re a homeowner thinking about having your bathroom remodeled in the future, you might want to do it before the prices become astronomical.
