Brooklyn Brownstone Renovation 11215
Hello
If you are looking to speak with an architect about your renovation, please feel free to contact me at mph@polyarch.studio
We are based in Boerum Hill, Brooklyn and specialize in renovations.
My best,
Polly Horne, RA
www.polyarch.studio
uchenna
in General Discussion 5 years and 7 months ago
29
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29 replies
crownheightsliving
in General Discussion 5 years and 7 months ago
So there’s no Certificate or Occupancy on file and they can’t locate anything off site but put in a request. I will need a mortgage to renovate this house it’s the only way I can afford to do so. If I for whatever reason can’t secure the mortgage, (when I was going through the processes it seemed okay, but I needed a signed lease and contractors designs which made no sense to me), I will need to sell. That’s why I’m trying to get an idea on costs. I don’t want low end. It just doesn’t last.
cate | 5 years and 7 months ago
Very interesting Bklyn_11228, thank you for the update. More advice: If at all possible, make sure the house is in the proper condition to qualify for a regular mortgage, do not get a construction loan. If you qualify for a regular mortgage, just get one — you are taking money out, you don’t need to tell anyone why, just say it’s for “investment purposes.” End of story. House should appear to be in standard condition, with no holes in the walls, and bathrooms and kitchens appearing to be working, etc. Is the boiler functioning? If the condition of the house is very extreme (roof doesn’t exist, bathroom is a hole in the ground, etc.) then you will have to get a construction loan, also sometimes known as a 203K loan. These are slightly more costly and come with a lot of structure: You will need plans, and the bank will release funds in stages as work is completed, not before. As for cost, I agree with the other posters this sounds like something between 400-1 million depending on scope and size of house. Nothing in the 400-1 million range is “low end,” so don’t worry about that. (You do need a skilled architect and an experienced and trustworthy contractor — that will ensure quality.) How much it costs, ultimately, doesn’t have that much to do with finishes, because the labor is the biggest expense and the labor is (broadly speaking) the same whether you use a $1 or $100 part — but the cost has a LOT to do with scope and size. Nothing you have described sounds especially unusual for an old house in Brooklyn. In fact it sounds like it’s in pretty decent condition. More typical is they need all their plumbing and electric completely redone and all the wet rooms as well. (If, in addition to all that, they also need a long list of other expensive items, that can be daunting. And BTW needing to replace electrical and plumbing does not mean a house is a gut.) What is the exterior material and is it in good condition? (Also, you don’t need to do EVERYTHING the inspector says — only the red flag items. Inspectors always say everything is worn out if it isn’t brand new, but that’s not the same as saying it actually MUST be replaced NOW.) $700K is tons of money to renovate, say, a 20×45, three story house in Brooklyn. It is certainly enough to include HVAC. I would aim to spend much less if I were you, perhaps start off with $400-500K, and reserve at least 10 percent above whatever you finally budget and get into contract for, because you may encounter surprises that will be costly. Here’s some more info in case it is helpful: https://www.brownstoner.com/interiors-renovation/renovation-costs-kitchen-bathroom-brooklyn-house/
crownheightsliving
in General Discussion 5 years and 7 months ago
My 500k-700k is all in, not just renovation costs but contingencies, attorney to review contract, architect, and permits. It’s in “decent” condition as per the engineer’s report but that’s now two years old. I’ve had contractors say I couldn’t get this done under 500k or 600k. I have a picture of the architect designs, this is what the layout originally looked like. I’ve had a bank appraisal done so it was fine. I think they called it a cash out refinance. I’ve been waiting for the deed so I wasn’t able to actually get the mortgage. [A260B124-A760-448B-AD57-E18749916AD8](//muut.com/u/brownstoner/s3/:brownstoner:tiDn:a260b124a760448bad57e18749916ad8.jpeg.jpg)
cate | 5 years and 7 months ago
That’s right, a cash out refinance is what you ideally want. I’d say start interviewing architects, let them know your budget, let them know you’d like to aim for a $500K renovation (if you’re comfortable with ultimately spending, say, $700K). The right architect will know the answers re permitting/existing conditions/layout and also what to do with the extension and know a suitable engineer. Then the architect will draw up three options for you — inexpensive, medium, expensive — and bid them out — and the bids will be structured so you can eliminate this and that to get to your budget, like a Chinese menu. Good luck with everything and keep us posted.
cate | 5 years and 7 months ago
P.S. Sometimes it can be better to get a specialist for some items. This would have to be before the contractor starts their work. For example, when we did an exterior renovation, in retrospect I wish we had gone directly to a mason for the brick and foundation work instead of a general contractor, who on the other hand is brilliant with kitchens, baths, and indoor carpentry. It’s not that the contractor didn’t do satisfactory work but it could have been better, faster, safer and SO much less expensive.
jazzwalk | 5 years and 7 months ago
We did a renovation where we direct bought appliances and other things to try and keep costs down. I cannot imagine that you could get it done for less than 500K.
chinyere.ezie | 5 years and 7 months ago
I always tell our clients create a wish list detailing everything you would like done and then walk through your building with competent contractors who can then provide a ball park breakdown of pricing ( plus / minus 10%) on the work you would like performed. By having a approximate budget you can then add or subtract based on your financial situation or the amount of funds you feel comfortable borrowing. With the revised breakdown list you can then approach Architects and have them develope a set of drawings based on your budget. This will avoid the lengthy drawn out process of creating drawings only to find out after the bidding process you are away over your original budget and now it is back to the drawing board to redesign and rebid the project while incurring more Architects fees.
jen-kg | 5 years and 7 months ago
I hope this works out but be aware that you can end up uncovering a lot of things you may need to fix or replace and that could eat away at your budget.
cate | 5 years and 7 months ago
I get to about 300,000 for everything not including wet rooms, plus $120,000 for wet rooms, not including architect and filing fees, surprises, or 10 to 20 percent in reserve. (I might have left out the new flooring on two floors.) Rough back of envelope estimates.