Renovation cost
For years, I was told the rule of thumb per floor for a gut renovation was 100k. Do people think that is still true? I am trying to budget renovating two floors in a 20X 60 brownstone, not including a kitchen. I know it’s hard to say without seeing..in the same way doctors won’t comment…
For years, I was told the rule of thumb per floor for a gut renovation was 100k. Do people think that is still true? I am trying to budget renovating two floors in a 20X 60 brownstone, not including a kitchen. I know it’s hard to say without seeing..in the same way doctors won’t comment on patients..but what are people’s gut reactions? (No pun intended)
Its not the sort of endeavor that lends itself to per-square-foot costs. Budgeting is important, and the best way to budget is to take a real stab at the scope of work. I’m an architect and I would be happy to talk with you about this. Feel free to call me at 347 623 5887.
I have a 20′ x 50′ brownstone and to update all electrical, plumbing, new boiler, new staircases, add central air, open three flues, move the kitchen and update the bathrooms, etc, my architect is warning me that it will be around $350 per square feet. Granted this will be a ‘high-end’ reno and due to previous owner’s neglect they are padding for surprises (bad joists, water damage, etc) but after talking to friends and interviewing a number of other architects, this has been a consistent number.
Good luck.
my two cents
we spent 600,000 + renovating a 4 story brownstone … over the past 2.5 years. 20 x 55 on two floors and 20 x 45 on two floors. we “touched” all surfaces one way or the other, we put new siding on the rear of house and steel staircase from our parlor rear to the garden. we worked on it a year on our own and 1.5 years with a contractor and subs.
also we did all new plumbing, all new electric, new central air and heat, new radiators, new boiler … etc. garden level apartment built out new, where none existed.
I would just say that the biggest issue beside the incredible monetary cost of renovation … is time. don’t underestimate just how long the process might take. generally I would say to double or triple time estimates from all contractors and subs.
my two cents
we spent 600,000 + renovating a 4 story brownstone … over the past 2.5 years. 20 x 55 on two floors and 20 x 45 on two floors. we “touched” all surfaces one way or the other, we put new siding on the rear of house and steel staircase from our parlor rear to the garden. we worked on it a year on our own and 1.5 years with a contractor and subs.
also we did all new plumbing, all new electric, new central air and heat, new radiators, new boiler … etc. garden level apartment built out new, where none existed.
I would just say that the biggest issue beside the incredible monetary cost of renovation … is time. don’t underestimate just how long the process might take. generally I would say to double or triple time estimates from all contractors and subs.
My contractor said that $100K per floor would have been a good rule of thumb last year, but that materials have really shot up in the past year, so add at least another $30K/floor. And that’s without going high-end.
It’s depressing, since most of the money goes for boring things like electricity, plumbing, and walls. By the time you get to the fun things, like fixtures, you have no money left.
Yeah and brownstones used to cost a few hundred thousand dollars too. Things change. Ever heard of inflation.
(I’m 4:33 from above)
But what you really want to know probably is whether or not you can even afford a renovation by today’s standards. I’d say: ask around, and take the highest number people give you and the lowest they give you and average those two out. You should count on approximately that middle number.
My number? $250 a square foot.
Regardless of “high” or “low” end, price can vary 100% depending on two things: YOUR organization and knowledge. So one “low end” renovation could cost someone 100K per floor, another could cost, for the same exact “low end” result, 200k per floor. Just as with medicine (a great comparison) — a talented, experienced doctor could save your life and actually add years to it; a moron could kill you, or at least leave you with problems for a lifetime. You’ll probably end up paying more for the moron.
Organization and knowledge is my recommendation to you. Knowledge (via research, lots of word of mouth advice, actually sitting down at a library and reading) should come first; then you can get a grasp on how to prioritize and manage your time and material.
Once YOU have a grasp on what you’re about to do, you can put together clear scope of work and start bidding out to different contractors, and you’ll quickly see who fits and will do the job well. Interestingly enough: Many incompetent, sloppy contractors will overprice precisely because they don’t pay attention to WHAT they’re estimating for (that high price shouldn’t be confused with “better quality”). A good contractor will always give you a precise, fair estimate, cause he’ll usually spend the time to examine, consider, and price the job thoroughly.
Well, like the last poster said, a lot depends on how high-end ( or not )you want to go. Can you budget a renovation still for 100K a floor? – despite the fact that material costs have increased up to 30% over the last several months.
I’m renovating a five story right now , single family- top to bottom, elevator included.
I would be happy to discuss it with you if you wish.
JohnBFitzgerald@aol.com