First, do you really need a bathroom renovation? Perhaps you'll get a bigger bang for your buck by making smaller changes. Maybe if you changed the lighting and plumbing fixtures, you'll bring the bathroom up to date. This is best if the layout of the bathroom is still functional and spacious and it just looks "old". Consider a new wall treatment - these couple of minor changes can make your bathroom look modern and attractive with only a couple of hundred dollars spent.
If in fact you need to do more than change the light switches around, you do need a full bathroom renovation. Beware that you don't spend too much money. Keep in mind that you need the bathroom renovation up to the standards of the house and neighborhood. Before you spend money on a designer tub or marble counter, consider if you'll see the full return on this investment. Also, some renovations are very expensive such as increasing the space of the bathroom. Consider if you really need to knock down a load-bearing wall - the extra room might not cover the cost of the bathroom renovation. If you're not sure, consult a real estate agent in the area who is more in tune with the values of your area.
Finally, you should have a professional and licensed contractor take care of a big job or bathroom renovation, but for smaller jobs, you'd be surprised at the money you can save by doing the job yourself. Some are pretty obvious, like installing new fixtures, but did you know that most new toilets can be installed without the expensive labor? A toilet installation is a relatively simple do-it-yourself project, and might not need the full labor costs of a difficult bathroom renovation.
A bathroom renovation might be a job that can dramatically increase the value of your house, but beware that many costs can be associated and you might not get as much out of the investment as you put into as labor and material costs. Trying to find the right balance is the ultimate key to the bathroom renovation that you need.
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