SoFi

Remodeling a master bathroom can provide a spa like sanctuary while adding value to your home. With some design upgrades — countertops, tile, fixtures, cabinetry, and bathtub — you can create a new look that really makes a splash.

The vast array of materials, colors, and design choices can be overwhelming. To help get you started, read on for 20 master bathroom remodel ideas.

How the Master Bathroom Has Changed Over Time

In the 1960s and 1970s, people started migrating from the cities to suburbia. More space meant more square footage. Initially, a master bath meant a bigger bathroom with a double sink.

In the 1980s, opulence was king. Master bathrooms meant sunken jetted tubs, lavish fixtures, and expansive countertops for perfume bottles and dressing vanities.

Today, some real estate agents and developers use the term “primary” bathroom or bedroom vs. “master” (even though the National Association of Realtors® has noted that a HUD opinion said “master” in this context is not related to race or gender and therefore does not violate fair housing laws).

While primary bathrooms are still spacious, style trends have taken a more subtle turn toward organic materials and earthier tones.

Regardless of trends, the master bathroom is here to stay, and is considered a must-have for many first-time homebuyers and experienced buyers.

What Is the Average Size of a Master Bathroom?

A master bathroom is defined as the largest bathroom in the house, and is almost always connected to the primary bedroom. A suburban master bath averages 100 square feet but may range from 75 to 210 square feet.

A master bathroom typically features:

•   A double sink

•   A large shower

•   A toilet

A bathtub is not a requisite, but these days most homebuyers want a tub in the master bathroom, especially if there is not another one in the house.

10 Standard Master Bathroom Remodel Ideas

An average-size master bathroom renovation may cost $10,000 to $30,000, depending on material types, labor costs (do you need to find a contractor?), and the scope of the project.

Here are 10 remodeling ideas for a standard master bath that can offer panache for your cash.

1. Refresh Your Countertops

Replacing worn-out countertops in a master bath can transform the feel of the space. Granite, marble, and quartz counters add a sense of contemporary elegance but cost more than laminate.

Granite can cost $40 to $200 per square foot; marble, $75 to $250; and quartz, $55 to $155. Laminate costs around $15 to $40 per square foot. That’s just the materials.

2. Go for the Hip, Hip Bidet

While common in Europe and Japan, bidets are finally gaining popularity in the United States. Because bidets limit the use of toilet paper, they are considered good for the environment and better for your skin.

A stand-alone bidet with installation can run between $500 and $1,500. An all-in-one bidet toilet can cost anywhere from $1,200 to $2,500.

3. Install a Walk-in Shower

Walk-in showers are usually partially enclosed with glass — devoid of doors, tubs, and shower curtains. The lack of barriers creates an open, contemporary look, almost like bathing in an outdoor shower.

Beyond being stylish, walk-in showers are accessible. With no steps or ledges to trip over, this type of shower remodel will age well with you and your home.

4. Consider Shower Speakers

As long as you’re redoing the shower, you might as well add some in-ceiling shower speakers. These advanced sound systems offer hands-free use, connecting to voice assistants like Siri or Alexa. Singing in the shower never sounded so good!

5. Install a Fan Timer Switch

A long, hot shower can generate a lot of steam. A smart-fan timer will sense the amount of steam and moisture in the air, turning on and staying on long after you’ve toweled off. This can prevent water damage, excess moisture, and potential mold.

6. Upgrade Outdated Fixtures

Switching out your old faucets, knobs, and light fixtures is a quick and cost-efficient way to spiff up your master bathroom.

7. Tile an Accent Wall

Retiling the entire master bathroom can take a big bite out of your wallet. Some homeowners are choosing to tile a single wall or focal area. You can energize the space by contrasting white subway tiles with a colorful wall of hexagonal tiles.

8. Elevate Your Look With Floating Shelves

Even a master bathroom can use more storage. Floating shelves on the walls can help achieve a sleek, minimalist look and cost less than installing cabinets.

If the bathroom has a closet or you’d like to add one, a closet remodel might be in order.

9. Keep Things Cozy With Heated Floors & Towel Racks

If you’re renovating your master bathroom floors, perhaps you could put in an electric or water-based heating system. This will ensure toasty toes without clunky radiators or exposed pipes.

Heated towel racks provide warmth in the winter and a quick-drying option for summer beach towels, all for about the same electric costs as flipping on a light switch.

10. Outlets in the Vanity Drawers

A master bath typically has a lot of vanity drawers. Installing outlets inside the drawers will help keep hair dryers, electric razors, and other appliances from cluttering your countertop.

10 Small Master Bathroom Remodel Ideas

Not every master bathroom has enough space for a Jacuzzi tub. Here are some remodeling ideas for a small master bath.

1. Install a Pocket Door

Doors that open on hinges can take up a lot of space. A sliding pocket door to the bathroom can make the master bath feel much roomier.

2. Add a Skylight

Adding a skylight in the master bathroom can flood the space with natural light, making it feel more airy and spacious. So can recessed lighting.

3. Choose a Long Sink

Instead of the standard double sink, consider a long, troughlike sink for a master bathroom vanity. It can provide a chic, modern look, and the elongated sink creates the illusion of more space.

4. Mount an Elongated Mirror

As with a long sink, stretching a mirror across a whole wall, instead of just over the vanity, can add depth and extra reflective light.

5. Opt for a Floating Vanity

A floating vanity is a cool design choice for a smaller master bath. It can add openness and more space underneath the sink for storage.

6. Add Lights Under the Cabinets

Cabinets, vanities, and shelves can cast a shadow on the floor, darkening a master bathroom and making it feel smaller. Installing lights underneath countertops and storage units can cast a downward light to add dimension.

7. Stretch the Floor Tiles Into the Shower Stall

If you have a walk-in shower, consider extending the floor tiles into the shower stall floor. The continuity of design will give the illusion of a longer space.

8. Add Storage

Select bathroom pieces with a dual purpose: mirrors with built-in shelves, a vanity with multiple drawers. Containing your clutter will make the master bath seem bigger and is one of the ways to refresh your home.

9. Consider a Freestanding Bathtub

Although a stand-alone tub can need more room for its fixtures, a clawfoot or modern oval bathtub can make a small master bathroom feel grand.

10. Stick to Light Colors

Soft whites, blues, and greens reflect natural light from windows and skylights, making the master bath seem more spacious. Choose light vs. dark colors for wall paint, shower curtains, and countertops.

Ways to Finance a Master Bathroom Remodel

A master bathroom renovation can add up. Here are several ways to finance the project.

HELOC

If you own your home and have sufficient equity, you may be able to open a home equity line of credit (HELOC), using your home as collateral. You’ll only make payments on the amount you borrow, the limit may be higher than a personal loan, and a HELOC usually has a lower interest rate than a credit card or personal loan.

But the rate is usually variable and can increase, and you could face closing costs and a minimum-withdrawal requirement. If you default on a HELOC, you risk losing your house.

Still, HELOCs tend to be hot when interest rates are rising.

Cash-Out Refinance

If you have sufficient home equity, you can apply for a cash-out refinance. You would refinance your home mortgage loan for more than you owe, take out part of the cash difference, and use the lump sum to build your new master bathroom.

Expect mortgage refinancing costs of 2% to 5% of the loan amount.

Personal Loan

With a personal loan for home improvements, you can receive a lump sum and repay it with interest in monthly installments. These loans typically offer same-day funding with no collateral required. The rate is based on the loan term, the amount of credit requested, and your credit score.

Credit Card

If you have a 0% interest period on a credit card, it could be a smart way to pay for your master bath reno. But unless you pay attention to the end of that introductory period, you could end up buried in interest charges. A missed payment will hurt your credit scores, and most of the time a late payment will stay on a credit report for seven years.

The Takeaway

Remodeling a master bathroom will add value to your home and create a retreat where you can invest in some serious self-care. The cost to remodel a primary bathroom has a wide range.

How to renovate so you can luxuriate? SoFi offers a personal loan of $5,000 to $100,000 with no fees, as well as a cash-out refinance.

SoFi also brokers a HELOC that allows access to up to 95%, or $500,000, of your home equity to finance your master bathroom redo and any other upgrades.

FAQ

Does remodeling a bathroom increase home value?

Yes. One study showed that the average full bathroom remodel cost about $26,500, and homeowners could expect a return on investment upon resale of about 60%.

What is the biggest expense in a bathroom remodel?

Labor in general. Plumbing and tile work in particular. Want to move the toilet? That’s a complicated task.

What is trending in bathrooms?

Steam showers, towel and floor heaters, and spa-inspired decor. Vintage-inspired sinks, mirrors, light fixtures, and clawfoot tubs. Wet rooms, where the shower, tub, sink, and toilet are all in the same room at the same level. Earth tones and jewel tones. Smart devices.

What should you not do when remodeling a bathroom?

A downward-facing light centered over the mirror can cast a shadow. Other mistakes: not adding enough storage, buying fixtures made with plastic parts instead of metal, installing a hook out of reach from the shower, and not adding a hand shower, which will mean a tougher task cleaning the shower walls.

Photo credit: iStock/stocknroll

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOHL1122007

Coined in 2003, the term HENRY, or “High Earner Not Yet Rich,” refers to people who make an above-average salary but still don’t manage to accumulate much wealth. The term is said to apply to one of two groups of people: 1) millennials who make between $100,000 and $200,000 per year, or 2) families that make roughly $250,000 to $500,000 per year.

But no matter their personal situations, HENRYs share something: namely, they make high incomes but aren’t saving a sizable chunk of their earnings. Despite taking home higher-than-average salaries, HENRYs’ expenditures leave little money left each month for either savings or income-producing investments.

Because of this, HENRYs are sometimes referred to as the “working rich.” If they were to stop working, they wouldn’t continue to be high earners since they make money mainly from their jobs. This is in contrast to ultra-high net worth individuals, who frequently own significant income-producing assets (like real estate holdings, revenue-creating businesses, or dividend-yielding stocks).

There are a few ways that HENRYs could potentially pull themselves out of their situation, though. Here’s a look at how.

Relocating to a More Affordable Area

One important factor for HENRYs to consider is location. Where an investor lives can make a huge difference in their ability to accumulate wealth. The cost of living can vary dramatically from region to region — as can state taxes.

The state of California, for example, has a state income tax rate of up to 13.30%. Meanwhile, Utah has a flat income tax rate of 4.85%, while Texas residents pay zero state income tax.

Living costs can have an even bigger impact on expenses than taxes. The median price of a home in Hawaii is $829,000. In West Virginia, it’s only $289,400 .

According to data published by Equifax, HENRYs tend to live in metro areas with higher costs of living, which may make growing assets harder. Choosing to relocate to a more affordable area might be an appealing option for those who can work remotely or transfer locations at their current jobs. Savings from a reduced cost of living could add up significantly over time.

It is worth noting that the average annual salary in more affordable areas is often lower as well, so HENRYs may want to investigate whether their jobs can be done remotely or if their skills are in high demand in other towns, cities, and states.

While moving may not be easy or simple, it could be one way for a high earner not rich yet to cut income-consuming costs and begin setting aside more money for wealth-aimed investments or savings.

Examining Tax Deductions

On top of local living expenses, another expense burden that tends to weigh heavily on many individuals, especially HENRYs, is taxes. Employees who earn higher salaries tend to pay more in income taxes. This is especially true in states that have state tax brackets that tax individuals at higher rates if they earn more money, as opposed to states with flat tax rates.

One common way to reduce income tax burdens is by contributing to a traditional individual retirement account, such as a 401(k) or IRA. (Contributions to Roth IRAs aren’t deductible). Some HENRYs might already have a retirement account through their employers. In that case, they may opt to make the maximum contribution, especially if their employer will match it.

Certain amounts of donations to qualifying charitable organizations can also be tax-deductible. Of course, if a high earner not rich yet has little disposable income left at the end of each month, sizable cash or non-cash property donations might not be a viable option for some.

For HENRYs who own a home, energy-efficiency tax benefits could be something to look into as well. Installing solar panels and solar-powered water heaters are among the most common items that can qualify for this kind of tax deduction. Others that are less common include geothermal heat pumps, renewable-energy fuel cells, and wind turbines. Energy-efficiency tax deductions can apply to a primary residence. And, where applicable, they can be claimed on other properties an individual might own.

HENRYs who have children and live in a state that allows it might be able to deduct 529 savings plan (aka a college fund) contributions from their state income taxes. Opening a 529 plan can address both how to pay for a child’s college expenses and, potentially, reduce state income tax liability.

A high earner not rich yet with no children could still open a 529 plan for friends, nieces, nephews, or even for themselves if they plan on going to college in the future. While 529 contributions aren’t tax-deductible on the federal level, the funds can grow tax-free. Plus, many states allow for the deduction of funds deposited into these accounts from state income taxes.

Paying Down Debt

It’s common for HENRYs to carry heavy debt burdens. Most often, this comes from student loans, a mortgage, auto loans, and credit card debt.

One reliable way to pay down debt is to make higher-than-minimum payments on debts carrying the highest interest rates. In this way, individuals can pay less in interest than if the higher rate debts were to continue compounding. Credit cards typically have the highest interest rates of any debt that most people carry (payday loans and some other types of unconventional loans might have higher rates still, but let’s assume HENRYs aren’t relying on these services).

For many borrowers, student loan debts can quickly become a problem. Interest rates on student loans can vary — especially if borrowers have a mix of federal and private student loans. And, when large enough payments aren’t made toward the principal or on already capitalized student loan interest, borrowers might get stuck with a lot of their monthly payments going toward accruing interest. In turn, this may make it difficult to quickly pay off outstanding educational debts.

Becoming as debt-free as possible can help individuals not relinquish income to interest payments.

Diversifying Investments for the Future

Once the above items are taken care of, HENRYs could invest the extra income saved in ways that will help their money grow. Even investors in their 20s may want to research ways to start investing. Here’s a look at the types of investments HENRYs might consider.

Income-Producing Assets

Wealth, understood as an expanding total net worth, is the kind of thing HENRYs are aiming for but never seem to achieve — despite their high-earner incomes. Breaking this cycle could involve first cutting certain expenditures (i.e., cost of living or high-interest debt).

Then, individuals may opt to take some of their newly freed-up funds and invest in income-producing assets. Income-producing assets may span securities that bear interest or dividends — bonds, real estate investment trusts (REITs), and dividend-yielding stocks.

Recommended: Income vs. Net Worth: Main Differences

Dividend Reinvestment Programs (DRIPs)

HENRYs can take advantage of the power of compounding interest by utilizing what’s known as a dividend reinvestment program (DRIP). Enrolling eligible securities into a DRIP means that any dividends paid out will automatically be used to purchase shares of the same security.

With the DRIP approach to investing, the next dividend payment will be larger than the last. This is due to the fact that more shares will be held, and payments are made to shareholders in proportion to how many shares they own.

Exchange-Traded Funds

Given that some HENRYs might not have a lot of non-work time to actively manage their investments, passive investment vehicles like exchange-traded funds (ETFs) might be an additional investment option.

Many ETFs yield dividends, although those dividends tend to be somewhat smaller than those offered to individual shareholders of company stocks.

Real Estate

HENRYs often own their own home. As such, mortgage payments combined with interest can make up a substantial portion of their regular monthly expenses.

While some people opt to buy a home as an investment, hoping that the property will grow in value over the years, buying real-estate does not always guarantee a profitable return. Someone seeking to shirk their HENRY status could decide to switch or downsize to a less expensive apartment or home — assuming the cost of rent or a new mortgage is less than their current house payments. In some areas, rentals can be quite pricey, so it’s worth doing your homework to compare the pros and cons of renting vs. buying where you live.

When individuals can cut back on monthly housing expenses, it may then be possible to invest some of their freed-up income into additional assets. If an investor still wants to have exposure to property, they could choose to invest in REITs, which are known for having some of the highest dividend yields in the market.

Since REITs are required by law to pay a certain percentage of their income to investors in the form of dividends, it’s not surprising that they’re a favorite among investors seeking potential earnings. Naturally, as with any real estate investment, fluctuations in interest rates and demand may impact an REIT’s market performance.

Investing Now for the Future

When it comes time to start investing, there’s no need to wait until retirement is nigh. After all, the longer certain securities are owned, the more time they could potentially accrue value or that dividends could be paid out.

SoFi Invest® offers individuals the tools they need to start investing online, whether they’re a new investor, HENRY or experienced market watcher. Plus, with SoFi Invest, members can access complimentary financial planners, who can discuss the investor’s financial goals and help them map out various paths to a financial future.

SoFi Invest®