Faucet installation is incredibly easy if you have the right tools, expertise and experience. Understanding the potential problems allows an experienced installer to avoid any unnecessary complications. An experienced handyman or do-it-yourselfer can undoubtedly remove and replace a faucet but an experienced plumber can do it in half the time and for a comparable cost.
The most time consuming and potentially expensive part of the faucet installation process is deciding on the faucet that you want. The price of a faucet can vary under ten dollars to several thousand for the gold plated variety. More typically, the average, high quality faucet generally runs between $85 and $175 dollars, however.
The Steps to Replace a Faucet:

1. Replacing the faucet starts by turning off the water underneath the sink at both the hot and cold water supplies at the base near the wall.
2. Next, disconnect the lift rod that connects to the mechanism that controls the sink stopper.
3. Then, disconnect the drain pipe connection located about six inches below the sink.
4. Remove the mounting nuts from directly below the sink.
5. Remove the old faucet and clean any remaining putty or debris from the top of the sink. Transfer the old water supply hoses or add fresh ones on the new sink. Be sure to wrap all connections with pipe joint tape.
6. Next insert the faucet into the sink and tighten the mounting nuts. Do not over tighten as you may strips the plastic nuts.
7. Reattach the drain connection and the water supplies to the connection at the base of the wall.
8. Reattach the drain lever.
9. One final note is that there are occasionally plastic stoppers in the faucet itself. Just remove the aerator screen and remove the stopper.
10. Lastly, turn on the water, check for pressure and your project is complete.

Now that we have gone over the steps to replace the faucet yourself, it’s up to you to decide if you want to tackle this fairly simple DIY project. If your not up to the task, just know that any good plumbing company should only charge you between $175-$375 to install a customer supplied faucet.