Just a vent
I’m feeling frustrated about the amount of money I’m spending on a gut reno. We’ve gone way over a generous budget and now approaching $300/sqft. A significant part of this has been due to unforeseen circumstances. Nothing I can do at this point except postpone some items to staunch the bleed of money.
I’m feeling frustrated about the amount of money I’m spending on a gut
reno. We’ve gone way over a generous budget and now approaching
$300/sqft. A significant part of this has been due to unforeseen
circumstances. Nothing I can do at this point except postpone some
items to staunch the bleed of money.
Our reno was 6 years ago and more modest (just under $100 psf) but the overruns totally blew our budget and were incredibly stressful. Looking back, I feel we could have had a more accurate scope/estimate at the get-go if i) we had hired a structural engineer to give us an independent assessment that went well beyond the home inspection report (which is based around reassuring the bank about existing problems, and not around how you want the house to look and function post-renovation) and ii) if we had hired a more experienced, detail-oriented GC/architect. It’s a reality with these old house that some problems just can’t be anticipated until the walls and floors have been opened up, but I’m equally sure that a really top-flight team could have given us a more accurate estimate. Hang in there! Time heals all and, even though it’s a drag to have to postpone projects for lack of cash, it’s most peoples’ reality. Also there is sometimes the silver lining: after you’ve lived in a house for a few years, you have a better idea of what you really want to spend your money on.
Were there more than 10 beams replaced because from experience I can tell you that in a 20 wide brownstone the cost can vary anywhere from $1500 – $2000/ beam to replace them individually. It is not only expensive, but a slow and methodical job
Original poster – yes, they are very competent but
expensive! And yes, much of the construction
cost increase has been due to structural reasons.
The only reason, I see, for increases in construction cost should be structural.
If these unforseen circumstances are structural, then it’s justifiable
Join the club. It’s really expensive. I think everybody spends more than anticipated. We haven’t gotten up to the $300 psf mark, but that’s because we are working painstakingly slowly and we think our contractor is incompetent. And so we will be broke and dissatisfied in the end. At least you should be broke and happy at this price point.