One level of bathroom remodeling is sprucing up what you already have; i.e. new paint, sinks, faucets, flooring and possibly cabinetry. However, before you approach an “as is” bath remodel, ask yourself, “Does the bath size, layout and location work for you?” If any of these issues make you unhappy, then don’t spend money on aesthetics.
What you are evisioning is a full remodel, which involves gutting the bathroom and replacing everything within the existing space. This will strip everything back to the wall studs and subfloor. The bathroom will stay in the same place, remain the same size, but the layout can be revised within that space. Even if the layout remains the same, everything in the room will be fresh and new. Most bathrooms older than a decade or two will benefit from a total remodel.
When designing your new bathroom, remember the formula, “Size x Finish = Cost.” A smaller bathroom can often be more luxurious than a larger one because less money is spent on construction and more on high-end features, fixtures, tile and accessories.