Here are some tips that could help you with your low budget bathroom renovation:
Do not touch the plumbing! More than 50% of your budget would go down the drain if you even think about re-plumbing. Work around existing installations.
However, you may replace your tub with prefabricated tub and shower combo that is made of acrylic or fiberglass. This is less expensive than having a re-tiling done. Tiling done without leaks by a professional can be quite complicated and therefore would cost more.
Another option is using acrylic tub liners that can be installed over the existing tub in order to create a new shiny look. You just have to ensure that the installation is properly done.
Important! Follow your local building codes as this affects the resale value of your home. Even if you get an offer from a contractor on a cheap bid, with a note that he does not do permits, do not accept the bid. You will realize that whatever savings you may make now if you accepted it will be useless when eventually you will re-sell the house.
Play with colors but wisely. Make your walls neutral – not necessarily just white or off-white; you still can play with the lightest shades of blue, pink, or yellow.
Then accessorize with darker and brighter shades – through other elements like towels, soap dishes, lotion and cologne bottles.
Take out the old shower door and replace with curtains. It creates a more casual and free ambience.
If you thought you had less space and no storage room, then create this functional space on your walls with shelves or high cabinets with maximum storage. You could use a freestanding tall towel rack that provides storage without taking up too much space.
Replace your existing vanity with a low priced quality vanity combination of sink and cabinet; and pick one that is designed with maximum storage in mind.
You may use a vessel type of sink, which alone could be a focal point of the bathroom. Several quality types are available that you can get at low prices. Check with retailer sites like Sinks Faucets and More.com; or Home Depot.
Use a mirror that would span the length of one wall on top of your vanity and toilet, to create the illusion that your bathroom space is twice bigger than it really is.
Replace old lighting fixtures with something that is modern and energy saving. It will be your own little way of contributing to saving the environment. You must remember though not to fall into the shadow trap. The shadow trap is when you cannot see yourself very well. Over the vanity, it will be wise to use a more soft-focused but somewhat diffused lighting.
These are just a few suggestions. But whatever you decide to do with your bathroom, make sure that you have fun re-doing it.