cost of renovation - MD 'burbs

[Anonymous]

And don't devalue your house by using lower range contractors. Quality costs more, but it is worth it in the end. When you go to resell your house for over a million, people will want a house hat looks like a million.

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP - why do you care if its all house and no yard? stop being a noodge! If it does not adversley affect your property then MYOB.

Our house is on an incline above this house (the houses are back to back). With their reno expanding the upper level of their house and pushing to the back of the lot, I'd say it does adversely affect our property. We'll have the distinct pleasure of looking right into their new upper level.

And they have to look into your windows.

Do they have a permit in their yard? A yellow sign and one posted on the window? You had your chance to comment for 30 days after the permit was issued and you could have reviewed thier plans. To obtain a permit they had to adhere to all set back restrictions. you may not like it but they are allowed to.

[Anonymous]

The yellow sign isn't the permit, those have to be posted in a window/door.

I have noticed that prices have gone up 20-25% in the past 18 months for major renovations...between 2009 and 2011 most contractors were just trying to stay busy, even if it meant a low profit margin. Now there are more projects and less labor (a lot of it has moved back south), so costs are higher for major renos. So a lot of $250k renovations are in the $300-$350k ballpark now.

My suggestion to those looking for this size project - find a good architect (get references from homes you like in your area), and work with them on budget and finding the right contractor. Some are good carpenters, some are good at coordinating multiple different sub-projects within one project, some are better at the woodwork required of arts and crafts homes, some might be better masons, etc.

And in the end, it's not about the lowest bid, but the lowest bid from a contractor you trust and who can get the job done on time and budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are looking in the close-in MD 'burbs (mostly Bethesda) and are having trouble finding anything we like in our price range $1M-$1.2 (houses where we are looking seem to either be less expensive and smaller or much bigger and much more expensive). We're now thinking about possibly buying something smaller and renovating. We'd likely buy a small-ish house and do the typical new kitchen/family room/master suite addition in the back of the house. Possibly also we'd dig out the basement. This seems pretty standard but I'm wondering what the range of pricing looks like. Curious if anyone here has done something similar and how much it was. Also, any tips? Things you wish you'd thought of when buying the house to renovate? Things you wouldn't do this time around? Thanks.

Just about to do a new kitchen, master bath addition with other smaller renovations. Got three bids. The lowest was $450k the highest was $550k. Add Architect fees on top of that, about $50k. Plus engineer's fees $6k. Plus all the other stuff you forget about, permit fees, increased electricity and water costs. All in, between $500k to $575k.

This is about what ours cost a couple of years ago. High end kitchen was probably $100-125 of the cost (that was with reusing a sub zero fridge). Lots of brick and stone work, custom built ins in 2 rooms, 2 tile/marble bathrooms, 1 powder room, etc. The high end extras probably added $150-200k to the cost so $350 is reasonable for a more modest addition.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are looking in the close-in MD 'burbs (mostly Bethesda) and are having trouble finding anything we like in our price range $1M-$1.2 (houses where we are looking seem to either be less expensive and smaller or much bigger and much more expensive). We're now thinking about possibly buying something smaller and renovating. We'd likely buy a small-ish house and do the typical new kitchen/family room/master suite addition in the back of the house. Possibly also we'd dig out the basement. This seems pretty standard but I'm wondering what the range of pricing looks like. Curious if anyone here has done something similar and how much it was. Also, any tips? Things you wish you'd thought of when buying the house to renovate? Things you wouldn't do this time around? Thanks.

We added a 3 story addition to our Bethesda home. Basement on 1st level, den/kitchen extensionon 2nd level, and master suite on 3rd level. 400 sq ft. x 3 levels. Nice finishes. 225 K. Very happy with the results.

This is very hard to believe. That price is not what anybody I know paid for something like that. Who would have done the work for that price?

[Anonymous]

I believe PP - if you just add new construction (back or side) and don't touch much of the existing, it is significantly cheaper. The major costs involved in a renovation come when adding another floor on top of existing, or re-working major interior spaces. The difference between finishes can also add or subtract huge numbers. For example, in our renovation, upgrading all of the millwork would have added $50k to a $300k job - we can do down the road, obviously, but this was one easy way to save some money up front.

[Anonymous]

Make sure there is language in the contract about how they clean-up after demolition both inside your house and out. After close to a decade our yard is still turning up pieces of glass and dust, and debris still settles from the area by our basement staircase beside a fireplace demo. Beware of contractors suggested by your architect especially if you are paying the architect for project management. They get too cozy with the contractor. We used a Bethesda custom home and renovation contractor and were very unhappy. And if a builder lists NARI as a credential make sure they are certified by NARI and not just a member.

[Anonymous]

^^^our yard is stull turning up pieces of glass and construction debris not construction dust..

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are looking in the close-in MD 'burbs (mostly Bethesda) and are having trouble finding anything we like in our price range $1M-$1.2 (houses where we are looking seem to either be less expensive and smaller or much bigger and much more expensive). We're now thinking about possibly buying something smaller and renovating. We'd likely buy a small-ish house and do the typical new kitchen/family room/master suite addition in the back of the house. Possibly also we'd dig out the basement. This seems pretty standard but I'm wondering what the range of pricing looks like. Curious if anyone here has done something similar and how much it was. Also, any tips? Things you wish you'd thought of when buying the house to renovate? Things you wouldn't do this time around? Thanks.

We added a 3 story addition to our Bethesda home. Basement on 1st level, den/kitchen extensionon 2nd level, and master suite on 3rd level. 400 sq ft. x 3 levels. Nice finishes. 225 K. Very happy with the results.

This is very hard to believe. That price is not what anybody I know paid for something like that. Who would have done the work for that price?

+1

[Anonymous]

Anonymous wrote:OP -
How do you plan to fund the project? It is my understanding that "construction loans" are hard to impossible to come by these days....meaning you have to use your own cash which defeats the purpose - right?

Not OP, but you can get a 2nd trust / HELOC, up to 85% LTV (using the "as built" appraised value, i.e. "as is" appraisal + the appraiser's projection of the added value of the new improvements, which, FYI, are only about 60% of cost as the benchmark in MoCo), which can cover these costs or at least some of them. We are doing this right now with the lender on our HELOC.

[Anonymous]

Anonymous wrote:Make sure there is language in the contract about how they clean-up after demolition both inside your house and out. After close to a decade our yard is still turning up pieces of glass and dust, and debris still settles from the area by our basement staircase beside a fireplace demo. Beware of contractors suggested by your architect especially if you are paying the architect for project management. They get too cozy with the contractor. We used a Bethesda custom home and renovation contractor and were very unhappy. And if a builder lists NARI as a credential make sure they are certified by NARI and not just a member.

I disagree with avoiding contractors recommendedby the architect. The contractor is only going to do one project with me, but hopes to do many more with the architect, so he needs to please her to get more work. That said, still get three bids. My architect recommended three contractors and I received three bids.

I would avoid "design and build" firms for a big renovation.

[Anonymous]

How far and to how many places you run water and waste pipes makes a difference in cost. Try to stack rooms that need water (eg master bath above the kitchen) to save some money.

[Anonymous]

Anonymous wrote:How far and to how many places you run water and waste pipes makes a difference in cost. Try to stack rooms that need water (eg master bath above the kitchen) to save some money.

We stacked rooms (master bath over kitchen) and it still cost about $400k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How far and to how many places you run water and waste pipes makes a difference in cost. Try to stack rooms that need water (eg master bath above the kitchen) to save some money.

We stacked rooms (master bath over kitchen) and it still cost about $400k.

Me too. In the first version of the plan they were not. In the revised plan the we're and he price went down. But still above $400k.

[Anonymous]

New poster here - This real world expense information is really helpful. Has anyone added a new story above a split level? Basically we'd be adding another half level - master bedroom/closets/bathroom - we'd be putting it over the kitchen and somewhat adjacent to an existing bathroom, so would have a plumbing tie in. We'd need to build stairs, new roof etc. I'd like to gut an existing bathroom while we're at it and maybe take out a wall in the room it's going over.

Any cost guestimates for something similar?

And, while I'm shooting for the moon, anyone have an architecht that they absolutely loved? Anyone we should stay away from?

(FWIW, I'm in Arlington, so I figure some permits and other costs will be different due to state laws, but labor/materials should be similar).