Developing Renovation Budget

[melissa84]

Hello! Long time lurker, popping in to ask a question...

We are looking at purchasing a house in SW Houston. Most of the houses we have seen need updating - walls, floors, kitchen cabinet/counters and bathroom redo. We are not planning on moving walls or adding sq footage. All work will be basic updating, nothing extravegant or super-fancy.

Do these amounts sound reasonable for rough estimating purposes?

• $2,500 per bathroom for new tiles, tile surround, new toilet, cabinet/vanity and shower enclosure (keeping existing tub) and $1,500 per powder room.
  
• 5,000 for kitchen cabinets (basic Lowes type oak stock cabinets) and laminate countertops
  
• Interior paint - $2/sf (floor sq footage) ceilings about 8', no fancy moulding, all basic white walls.
  
• Flooring - $5 sf installed for laminate or tile, about the same for carpet
  

Do these sound reasonable? Strictly on a rough basis. Thanks!!

Edited April 8, 2009 by melissa84

[RedScare]

These numbers can vary wildly, depending on square footage and the level of quality desired. You should figure kitchen cabinets at roughly $150-200 per linear foot of cabinet installed. If you are replacing the bases as well, count that by linear foot, too. Don't count gaps for refrigerator or dishwasher, only actual cabinet area. Countertops can be $25-50 per square foot. Get prices for the top you like and measure your counter area.

The bethroom sounds cheap. Figure $250-300 for a good toilet, plus $150-250 per install. Figure $6-8 per square foot for tile, plus $1 to rip out old floor. Shower enclosure should be priced out per your wishes. They can run from a few hundred dollars to several thousand.

Paint should be figured on square feet to be PAINTED, not by square feet of floor space. A 10 foot by 10 foot room with no doors or windows will have 320 square feet of wall (8 foot ceiling) and 100 square feet of ceiling. That is how the painter figures it, so that is how you should measure it.

Get flooring prices from a flooring store. $5 is average, not spectacular.

[rbarz]

Those prices are attainable especially if you act as the GC.

I don't think you can get Lowes or Home Depot cabinets for that price, especially not installed. Lowes and Home Depot are rather expensive. You will have to get wholesale cabinets most likely sourced from Mexico.

You should also remember the old remodeler's rule about the budget: "Double the Price and Twice as Long"

Edited April 9, 2009 by rbarz

[BryanS]

If you're going to go cheap on the cabinets (e.g. Lowe's/HD oak stock)... you really should look at Ikea. I just bought $1800 worth for a large kitchen. And if you go there, and get their price sheet, you can estimate almost down to the penny how much it is going to cost to you. That assumes you are going to install them. And if you need help, then they can quote you a price on that.

[Original Timmy Chan's]

You should also remember the old remodeler's rule about the budget: "Double the Price and Twice as Long"

I was gonna say the same thing, take whatever you think it's gonna cost and DOUBLE IT.

If you budget that, you won't be caught short when you find out about the extra hardware that wasn't included with your fixtures, the old plumbing to be repaired, the hidden termite damage, etc...

Not trying to be funny...you don't know from where it'll come, but count on surprises.

[GREASER]

If you arent doing the work, then Orig. Timmy is correct, double the price of what you think. Best thing to do is read up on a project then do what you can and have a pro do the rest.

Ikea cabs. are the best..I think we did out entire kitchen, including harwoodinstall, lights and appliances for 7k. (see pic in other thread)

Edited April 9, 2009 by GREASER

[melissa84]

Thanks for the help. The house is a dump on the inside, but the roof is from 01 and looks ok from below (of course we would have a professional inspection done on everything), there don't appear to be any major cracks, door closing issues, etc. The size is great for us and we like the location.

I am just trying to develop a rough idea of how much the cleaning up and updating will cost. Sounds like my idea of 25K is on the low side.

The Ikea idea is great. I have seen their displays but did not think about them. The kitchen does not need to be granite and stainless, just clean and functional.

We are heistant to do much of the work ourselves. We both work, plus we will want to get the work done quickly so that we can move in and get the old house on the market.

Edited April 9, 2009 by melissa84

[sowanome]

Thanks for the help. The house is a dump on the inside, but the roof is from 01 and looks ok from below (of course we would have a professional inspection done on everything), there don't appear to be any major cracks, door closing issues, etc. The size is great for us and we like the location.

I am just trying to develop a rough idea of how much the cleaning up and updating will cost. Sounds like my idea of 25K is on the low side.

The Ikea idea is great. I have seen their displays but did not think about them. The kitchen does not need to be granite and stainless, just clean and functional.

We are heistant to do much of the work ourselves. We both work, plus we will want to get the work done quickly so that we can move in and get the old house on the market.

You should enlist "Flippers" help...