New to Renovations: Advice/Costs?

Hi there. I’m in contract to buy my first home, and it needs quite a bit of work. It’s 500 sq feet, and I want to swap the locations of the kitchen and bathroom, as units above me have done. The walls ceilings and floor need to be replaced. It’s liveable now, but not in great shape.

I had a contractor in who was pretty confident that he could do it all for 80k. I’d like to stay under $100k (about $200 psf). Looking on here, I’m growing nervous that I’ll need to budget more than that. Am I on solid ground, or am I staring down the barrel at at $150-200k exercise?

If anyone has any advice or places to point me toward, I’d love to hear your sage thoughts!

Thanks so much. I’m nervous and excited, but I think it will all be worth it in the end! Love this forum.

elhadjib21

in General Discussion 5 years and 11 months ago

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hkapstein | 5 years and 11 months ago

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Figure 20k for the kitchen and 20k for the bath, plus walls ceiling and floor, plus administrative expenses for the building which could require permits, I think the budget could get to 80-100k. But it could vary a lot, if you did all the work yourself and there’s suitable plumbing for a bathroom at the kitchen, maybe you could do it for 10k. Perhaps it can be done in the 50-80k range depending on the specifics, but it’s hard to speculate without knowing the details.

elhadjib21 | 5 years and 11 months ago

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This makes me feel so much better… That’s good to know. I’m really really new to all of this, and the information online is so disparate, it’s hard to know what to expect!

resident2 | 5 years and 11 months ago

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The numbers you are talking about are extremely high! This is for just an apartment? you are not rehabbing a whole building! Most renovations talked about on this site are for whole houses including building wide systems etc.
Are you a co-op or condo? You will need to get their permission for moving plumbing lines.
Ask your neighbors upstairs for their contractor information. Ask the management company that manages the building what is required, guide lines for contractors working in the building… do you need to file with the buildings department as well as the board of managers etc.
Do your home work ahead of asking contractors to come in to give quotes or you will be wasting your time. Are there limitations on when contractors can work, disposing of demolition , deliveries for materials, tools etc. etc