You have lots of choices for the safelight. You could simply buy an OC filter bulb and screw it into the fixture. Bulbs are about ten bucks at most stores. A step up would be an old safelight off of eBay. Worst case you would have to replace the filters which is a few dollars. You can find to Kodak Bullet shaped safelights all over eBay.
I would go with the pantry over the bathroom. Yes, running water is nice; however, it never fails that the wife wants to soak in the bathtub at the same time that you want to print. Put a table in the pantry to set your trays on. I used to leave the prints in a water bath until I was done printing. Then, i would set the print washer up in the bathroom to wash everything in one shot. For developing film just use an old bucket to dump the spent chemicals into.