Before you pull out a calculator, clarify your reasons for renovating. Divide those reasons into "wants" and "needs." For example, reconfiguring your bathroom so that your current questionable electrical and plumbing will pass an inspection is a "need." His-and-her water closets, a whirlpool tub, and built-in towel heaters are "wants." Setting priorities will help you make decisions as you move through the renovation process.