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Master Bath: would you refresh or remodel?

We recently purchased a home with a master bath that could use some help. Here's the only photo I have currently:

And a basic floorplan - this isn't quite to scale, but the room is TINY (maybe 5'x5' or just a smidge larger) so there isn't really much to show. The triangles show the current orientation of the entrance door and shower door.

Anyway, most of the grossness isn't visible in the photo, but there are some very serious signs of wear and tear when you get in there. Everything is functional and nothing is currently leaking, but shower has some serious problems. The grout is crumbling and badly mildewed, and some idiot apparently tried to regrout over the old grout in a different color so there are areas where there are thick patches, etc. They didn't caulk the corners, either. The best part is that they clearly messed up when measuring for the glass, so there is a WOOD filler strip between the glass and the wall next to the toilet, which is of course rotting from the moisture.

There was a fan that didn't vent anywhere when we moved in, so although we had our electrician vent it immediately, the damage was already done by the former owners. There are mildew spots all over the upper walls, the light fixture above the mirror is pitted/rusted, and the seals on the shower glass are full of mildew as well. Also, the sink is crazed, there is no medicine cabinet, etc. The floor seems to be in good condition but the tile is a white faux marble and shows every speck of dust, very annoying.

Like most first-time homeowners, we are a bit short on cash now and have been trying to prioritize repairs and remodeling projects. I had been planning to simply regrout the shower and paint the room to make it at least look presentable while we wait for our bank accounts to fill back up, but looking at the list of crap that needs attention I feel like it may not even be worth doing those small tasks, and I should just live with it until we can afford to do a full remodel. Thoughts? Any idea what I can expect in terms of cost and time to complete? I gutted the bathroom in my old apartment and I know approximately what that cost, but that was a larger room with a tub and was done in conjunction with a kitchen remodel, so there may have been economies of scale. Thanks in advance!

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