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You don't necessarily have to spend a whole lot of money to renovate/update a toilet or bathroom. We have an ex statehouse that we are living in/renovating to rent and over the last year been chipping away to get it in good state.
We bought a cheap toilet (approx $300) from Bunnings and had it installed, tiled and painted and it all came up really nice, would have cost less than $1000 (inc plumber) bought tiles off TM and Mega/Bunnings when on special, we have done the same with the Kitchen and Bathroom grabbing things that are silly cheap and storing them until we are ready to do the next. This is the toilet i did about a month ago.

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