By gauging a homes age a contractor or remodeler has a good idea of how it was built and thereby knows how to approach some of the plumbing & electrical problems that he may run into with a remodel. Find out approximately how old your home is or who the homebuilder was before talking to a professional.
Do you plan to retire in this home or stay there over 10 years?
If so you can do whatever you want to the home. If not then choose wisely because the next buyer may not like stark or drastic colors. Most people are pretty bland-stick to beige & creams.
Who is going to do the work?
If you do not work, have plenty of time set aside, and have experience in the trades, then go for it. If you do work or have a family, time is tight and every second counts. You may be better off hiring a contractor then trying to do it yourself and find out it is a much bigger project than anticipated!