A close look at your own finances is necessary to decide whether the time is right for a bathroom remodeling or not. Though the economy is slowing down and even if there is a noticeable slump in the housing market yet, people are not shoving off plans for bathroom remodeling.
Statistics offered by the Joint Center for Housing Studies show that discretionary projects of kitchen and bathroom remodeling went up by 40% during 2005 and 2010. A major remodeling contractor provided a more real picture. It pointed out that the remodeling of bathrooms went up by a greater percentage during 2005 and 2008. The overall growth was 74% between 2005 and 2008while on a year-to-year basis the growth rate was 47% during 2005-2006 and 2006-2007. A leading magazine reported that the return obtained from bathroom remodeling over an initial investment was the highest. It was around 78.3% and was more than that obtained from other remodeling.