Architects & Contractor Beginner General Questions- Architect & Contractor
Hello All, Very Sad to say after 8 years in lovely Ft Greene – it is time to move on… to NJ. My fiance and I are looking to purchase a 2 family brownstone in NJ. 3 to many bad landlords later… We are thinking of purchasing a 1 family for $250K. Bottom line the…
Hello All,
Very Sad to say after 8 years in lovely Ft Greene – it is time to move on… to NJ.
My fiance and I are looking to purchase a 2 family brownstone in NJ.
3 to many bad landlords later…
We are thinking of purchasing a 1 family for $250K. Bottom line the interior is awfull – typical NJ – carpeting, bad tile. Just void of all character. However structurally it is very sound – fairly new electrical & plumbing.
We are thinking of borrowing 300 K and using 50 K to redo the following:
New Bathroom
New Kitchen
New deck on 2nd floor
knock down a wall beeen kitchen and living room
new fromt windows
new sheetrock in living room
What are costs of a project like this?
What can we do on the list for 50 K?
Do you have to hire a contractor & Architect? (we prefer just an architect)
Am I in La-La Land?
Thank You – we just don’t want to get in up to our necks.. Go for the gut renovation condo?We plan on being the unit for a 3-5 years.
Posted by C.
” Ifigure about 25k with tops appliances and cabinets”
You must really be cheap or live in a tenament.I remodel kitchens all the time. In fact I have just remodeled my kitchen and MY COST was 75K.
I think you are in LALA land
Posted by C.
” Ifigure about 25k with tops appliances and cabinets”
You must really be cheap or live in a tenament.I remodel kitchens all the time. In fact I have just remodeled my kitchen and MY COST was 75K.
I think you are in LALA land
the $2500 was to knock down the wall, re-do the moulding at the top, move the electricals that are in the wall, and haul off the debris (plaster and lathe on both sides of the wall). should have been more specific, sorry.
i think the most important thing you need to consider is the comps for your neighborhood. are all the houses in this neighborhood $250K or are they selling for more and this one is $250K b/c the interior is in bad condition? if $250K seems like the going rate for this neighborhood, it’s going to awfully difficult to get your money back if you are only staying 3-5 years. closing costs, $50-75K in renovations, and a broker’s fee…do you see this property selling for $350K in 3 years? that’s the most important question.
When you say you prefer just an architect, does that mean you want to do some of the work youselves? That will save you alot of money. $2500 to knock down a wall? I can do that myself in a few hours and I’m just a little thang. That is a perfect first project for someone just starting out in the DIY world. Also, I don’t know how it works in NJ, but you may only need the architect for the deck. You can always prioritize and save a couple of projects for when you have more money.
i am renovating a house in NJ. everything depends on the quality of finishings you choose, but based on some contractor quotes i’ve gotten, you will probably need a little more than $50K. here are some estimates i’ve gotten:
kitchen – $8-9K in labor (plumbing, electrical, installing cabinets, building an island). does not include cabinets, appliances, fixtures, etc. i’d figure about $25K with decent cabinets, countertops, and appliances. really depends on how many cabinets you need.
bathroom – $8-10K for labor. another $4-5K for tiles and fixtures.
knocking down a wall – $2500 (not load-bearing)
no idea on the other stuff.
good luck!
Not to burst your balloon, but any house painted before the 1970’s probably has lead paint somewhere. Not to panic and run screaming from the deal, but please be aware of that.
The plumbing and electrical a fairly new and there is no deck but a second floor roof & balacony that can be extended. The olace is 65 years old and no lead paint.
is the plumbing & elec in good shape?
how many windows
is there a deck now that needs new boards or total new constr?
how old is the place – is there lead paint?
thanks – how much more?