Not a super thorough answer but if you're thinking about a full bathroom vs a half, one thing that may come up is the current size of your water heater and the size of your family. 3 showers running simultaneously and/or water appliances may warrant getting a larger size heater which will add to the price of the project.
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It's gonna be a full bathroom, though it will be tight quarters. The water heater is something I hadn't thought of though. So thanks for bringing that up.
Full bath- nice. Bonus option if you go with a new water heatee: tank vs tankless. Good luck with your renovation.
I would add to the other commenter, making sure the cost to plumb and run into existing sewer and water is worth it.
You haven't commented on whether the house is on a slab or basement/crawlspace. The sewer consideration would be my #1 concern, and ripping into a slab would be a dealkiller for me.
Unfortunately, its on a slab. We don't really have room for basements here in South Florida.
It's not a big deal, pex and sewage line into the existing, assuming this is one story home, if bathroom is upstairs then it's a little more involved. Plumbing isn't going to be the hard work, that stuff is easy. It's converting a room into a bathroom with tile and tub/sink/toilet that will take much longer than just running water and plumbing.
I'm posting from NZ, here we have regs that wet areas have to have fully waterproofed floors. Not sure how common that is elsewhere.