Renovation cost- too high or about right

[Anonymous]

Hi- we just got a bid from a design build firm for a renovation of our home and are in absolute shock. Here’s what we are doing:
-gutting the house down to the studs on the first and second floor
-replumbing, upgrading electrical, installing hvac,
- adding a powder room on the first floor, a second bath on the second floor
-gutting kitchen
-adding laundry room to the first floor
- replacing floors that cannot be salvaged refinishing the wooden floors so they match
We are not: finishing our basement or changing the existing footprint of the house, or touching the exterior.

We were not prepared for the number they suggested-$599k. The structural elements before any fixtures or cabinets alone was $475k. The SOW did not include a price breakdown of any of these items, just a grand total at the end. Is that normal?

[Anonymous]

Well, are you in DC?
How much is your house worth?

I would suggest not spending 599 on a renovation that doesn't add square footage.

Get more quotes.

and then, if none are closer to the $250K mark, decrease your to do list or delay the renovation. Or...sell your house and buy another that meets your needs.

[Anonymous]

How many square feet are your first and second floors?

[Anonymous]

Yes we are in DC. 2100 sq ft.

[Anonymous]

Sounds insane for that price. You should get another house plus an addition and high end everything.

[Anonymous]

I think that’s very high. I’m in Arlington and doubling the size of my house for $500k.

[Anonymous]

I would move.

[Anonymous]

Anonymous wrote:Hi- we just got a bid from a design build firm for a renovation of our home and are in absolute shock. Here’s what we are doing:
-gutting the house down to the studs on the first and second floor
-replumbing, upgrading electrical, installing hvac,
- adding a powder room on the first floor, a second bath on the second floor
-gutting kitchen
-adding laundry room to the first floor
- replacing floors that cannot be salvaged refinishing the wooden floors so they match
We are not: finishing our basement or changing the existing footprint of the house, or touching the exterior.

We were not prepared for the number they suggested-$599k. The structural elements before any fixtures or cabinets alone was $475k. The SOW did not include a price breakdown of any of these items, just a grand total at the end. Is that normal?

Why did you buy a house that was in such bad shape? Did you get a major discount for the poor condition? Unless you bought it for way under market due to conditions, it’s hard to see how that reno makes financial sense.

[Anonymous]

Design build firms are all in one price--but I found more expensive generally. We ended up working with an architect and then hired a contractor separately and it was cheaper. This was for a smaller job but think it applies more generally.

[Anonymous]

Anonymous wrote:Hi- we just got a bid from a design build firm for a renovation of our home and are in absolute shock. Here’s what we are doing:
-gutting the house down to the studs on the first and second floor
-replumbing, upgrading electrical, installing hvac,
- adding a powder room on the first floor, a second bath on the second floor
-gutting kitchen
-adding laundry room to the first floor
- replacing floors that cannot be salvaged refinishing the wooden floors so they match
We are not: finishing our basement or changing the existing footprint of the house, or touching the exterior.

We were not prepared for the number they suggested-$599k. The structural elements before any fixtures or cabinets alone was $475k. The SOW did not include a price breakdown of any of these items, just a grand total at the end. Is that normal?

The bolded is not normal: they should be able to break it down.
The price seems really high, but I've heard that construction prices are through the roof right now due to high demand and scarcity of some material. Can you delay your project a little bit? I'm also planning a renovation and hoping things will normalize.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hi- we just got a bid from a design build firm for a renovation of our home and are in absolute shock. Here’s what we are doing:
-gutting the house down to the studs on the first and second floor
-replumbing, upgrading electrical, installing hvac,
- adding a powder room on the first floor, a second bath on the second floor
-gutting kitchen
-adding laundry room to the first floor
- replacing floors that cannot be salvaged refinishing the wooden floors so they match
We are not: finishing our basement or changing the existing footprint of the house, or touching the exterior.

We were not prepared for the number they suggested-$599k. The structural elements before any fixtures or cabinets alone was $475k. The SOW did not include a price breakdown of any of these items, just a grand total at the end. Is that normal?

Why did you buy a house that was in such bad shape? Did you get a major discount for the poor condition? Unless you bought it for way under market due to conditions, it’s hard to see how that reno makes financial sense.

Just want to say that this is a very irritating, presumptuous, unhelpful, and rude post.

[Anonymous]

it seems high but not unreasonable. you are doing really a lot of work and it takes more time to gut a full house down to the studs then building a new addition.
last year i was was quoted 150K-200K just to enclose a second floor sleeping porch so it would result in a room and a new smallish full bathroom, and to remodel the current full bathroom (5X7) that is next to the porch.

[Anonymous]

Anonymous wrote:it seems high but not unreasonable. you are doing really a lot of work and it takes more time to gut a full house down to the studs then building a new addition.
last year i was was quoted 150K-200K just to enclose a second floor sleeping porch so it would result in a room and a new smallish full bathroom, and to remodel the current full bathroom (5X7) that is next to the porch.

+1. What is the cost to knock down and rebuild? Taking the existing house down to the studs requires manual labor and hauling it out to the dumpster. Knocking a house down involves machinery and pushing the waste into a pile and then into the dumpster. It goes much faster and requires less effort.

[Anonymous]

It doesn’t sound crazy to me since you’re basically rebuilding most of your house. But I agree that you should explore tearing it down.

[Anonymous]

Yes, with a $200k profit for them.