We have found a potential reno that we want to buy as our first home - it is a 2 floor semi with a finished basement. it is uninhabitable right now as the entire house smells of cigarettes - a smoker has lived in it for 30 years. So renos' would have to be done prior to us moving in.
The main factors of this house that need to be changed (in addition to the smoking smell) are: the lay out is not open concept on the main floor, on the 2nd floor the 3rd bedroom has been converted into a large oversized bathroom with the original bathroom converted to a laundry room; a new kitchen is needed, the basement is finished but needs to be re-formatted to be an actual games/wreck room, all floors need replacing (gross carpet) and to boot, we'd like a proper entry or mud room and possibly a powder room on the main floor.
Any rough estimates on how much a total gut and redo will cost for this home?
We are getting an inspection before we purchase, but the cost of renos is going to factor into our offer price.
Knowing the homes in the Danforth and East side of that area, it is fair to evaluate the home with doing an in person visual consultation and be able to provide you with a proper estimate and Project Proposal...by throwing numbers up in the air is not going to help you, its going to scare you in the long run.
By evaluating the must haves in your " Future Buy ", it's a straight forward renovation and especially in this area of town that the homes are smaller...it's fair to say with due diligence that an rough estimate would be in the range of $ 50,000-60,000.
I'm going to toss a number out for you, but please be aware this is sight unseen. It could in the end cost you more.
I have renovated many properties. And have completed renovations you speak of countless times in Toronto, Mississauga and Oakville. But you are looking at the low end 85,000.00 to 95,000.00. And if you go with high end finishes you could easily be looking at 125,00.00.
The age of the house will give me a better idea of what will be found behind the walls. What year was the house built?
Thanks for the replies.
We are putting in an offer this week. Let's see if we get the house and then will go from there regarding renos, after an inspection that we deem positive. The house was built in 1927 - also just heard squirrel's running in the ceiling when we went to view one more time today.
Thanks again for your replies, will likely be in touch for a quote if we proceed!!
I think that anyone who would give you even a guess before looking at the site is wasting everyone's time. The contractor or trades would need to see the site and take it from there. To move a load beam and or column needs to be assessed by an engineer, he or she will determine point loads, what material for the new beam can be used (steel, LVL, spruce etc.) and if a flush mount design is even possible. All the other aspects to your project like flooring really depends on the quality of the material you plan on putting in.
Installation prices really stay the same from material to material but you will determine your budget based on the products you want. That ranges from bathroom materials, flooring materials, baseboards etc.
Also, as a home inspector, if I were you I would have a contractor look at the house and not just an inspector. Since we are the ones who do the work, get the inspection done by a contractor who can let you know the issues he or she see's and the costs affiliated with the walk through.
Just my opinion of course.
Your best bet. Hire a home inspector. Take him through your wants list. Ask him to put a fair estimate and itemize it.
Now this becomes easy... Your want list will be your deliverable list by the general contractors. Your Inspectors costing will generally meet the lower end pricing from the contractors or very close to it.)
Now get the general contractor to estimate you for the project. Explain to him your requirements. The basics and the upgrades. This will establish you the ballpark of the finish project without you going overboard. Dont forget the HST over the pricing.
Monitor the project every stage of renovations. Sometimes unexpected surprised are visible once the walls are opened. Make sure you have additional 10% budgeted for these surprises. You might not use it but atleast you will be ready and it wont be any surprises for later.
(Make sure the roof is inspected. If the wall/roof shared with the neighbour, please consider to alert your neighbour. Alert your neighbour or neighbours so that they are aware of the reno and are ready for the noise factor and extra inconvenience by the general contractor being on site for a few weeks. This makes life easy for you and the general contractor.)
Good luck on your project.
Rosha Constructions Inc.
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