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Bathroom remodels run the risk of emptying your wallet. Here is how to save money on your bathroom renovation.

Size of the bathroom will change
Solution: Resize only if absolutely necessary to accommodate your needs. This is the single most expensive aspect of the bathroom renovation.

Load-bearing walls must be removed or moved
Solution: Explore possibilities of expanding through other walls–walls that do not bear weight.

Walls cannot support additions of new vents, ducts, wiring, windows
Solution: Walls do not necessarily have to be replaced to accept these additions. Raise this issue again with your contractor or seek a second opinion.

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When it comes to home improvements, many of us have champagne tastes on a beer budget—we noodle-out the perfect plan for a project, then the contractors’ bids come in at twice what we can afford. So we become do-it-yourselfers. We know that, by eliminating the labor expense, we can often chop a project’s cost in half.

But should you do the work yourself? The answer depends upon a number of factors, including your abilities, your collection of tools and safety gear, your time, and your inclination to roll up your sleeves.

Unless you are a highly skilled do-it-yourselfer, avoid taking on jobs that may be dangerous, particularly difficult, or where a mistake can be quite costly. Some jobs simply are not worth the risk. For example, think twice before doing:

- Extensive electrical work
- Plumbing that involves crawling under the house
- Roofing work on a steeply-pitched or high roof
- Difficult or laborious work, such as chopping out and pouring a new concrete floor
- Siding work that requires scaffolding higher than two stories
- Work where there may be hidden mysteries
- Any other task that you’re not confident you can handle.

Consider you skills, tools, and time. Then take a closer look at your options before you make a final decision.

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One of the most potentially nerve-wracking aspects of home ownership concerns remodeling.

Should you spend the money? What will the remodeling project do to benefit your resale value?

Before you embark on an extensive remodeling project, it is a good idea to determine whether remodeling is the best option for you, or whether it would make more sense to buy another house that would better fit your needs and wants.

The following brief questionnaire will help to steer you in the right direction. Answer each question and record the number of points associated with that answer.

How far “off” is your present house from the one you would like to live in?

- A little - 5
- Somewhat - 3
- A lot - 1

What are the property values doing in your neighborhood?

- Increasing - 5
- Staying the same - 3
- Decreasing - 1

What are property conditions doing in your neighborhood?

- Getting better - 5
- Staying the same - 3
- Declining - 1

How long will you get useful life out of any potential remodeling?

- 10+ Years - 5
- 3-10 Years - 3
- Less than 3 Years - 1

In relation to your house, the other homes in the neighborhood are:

- Larger - 5
- Similar - 3
- Smaller - 1

Analyzing your scores

18-25 points: Remodeling may be a good consideration.
10-17 points: Either option may work for you. Take other factors (your budget, your job stability, etc.) into consideration.
Under 10 points: Moving may be your best option.