Judging whether a price of builders reno quote is fair and correct...

Viewing 5 posts - 1 through 5 (of 5 total)

darkness72
Participant
@darkness72
Join Date: 2013
Post Count: 51
April 30, 2015 - 5:29 am
Hi
I have a property that I need to get renovated at short notice.
And need to get renovation quotation – signed to contract very soon.
I have received a quotation, and am wondering how I could best judge if it is fair and at a reasonable price?
Reno of good sized 2 bedroom unit, to a higher that average quality finish.
New bathroom, new kitchen, new laundry, remove carpets, polish up floorboards, new carpets in bedrooms, new light fittings, switches and points. Painting throughout. New internal door levers etc, new curtains throughout.
I know its hard to base a figure on what you can’t see, but would 50k be in the ball park, or should it be a lot lower.
Much Thanks
Made_Man
Participant
@made_man
Join Date: 2013
Post Count: 35
June 6, 2015 - 9:19 pm
$50k sounds fair. We done a similar reno with me doing most of the work and it set me back around $35k
i saved about $7k on the painting and i also saved more by doing the electrical and demolition myself
Catalyst
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@catalyst
Join Date: 2008
Post Count: 1,404
June 9, 2015 - 11:17 am
Too difficult to say without knowing how if the apartment is and where etc.
We reno a whole house for $15K but we do nearly everything ourselves. Can you do anything yourself? Even the ripout saves thousands. If you can project manage it yourself (ie organise separate tradies) that will save many thousands too. The builder will have a % (usually 10%) on top of what all the others charge. Of course this takes time and time = money.
$50K is a lot. I’d be getting 2 more quotes.
Ginny
Participant
@ginnypops
Join Date: 2015
Post Count: 4
August 21, 2015 - 2:36 pm
I think 50 sounds a lot for a 2 bed place
KatarinaH
Participant
@toddy2015
Join Date: 2015
Post Count: 10
August 22, 2015 - 9:57 pm
First advice: get a second quote. If you really don’t have time for that, get references from the builder and ring his former clients. If possible, even go around to see his work.
Second advice: make sure you spell everything out you want done. Don’t assume the builder knows what you expect, that’ll cost you. If you are not sure, sit down with him and discuss in detail. Make sure your contract is a fixed-contract, that way you can only be charged for additional work or change in scope.
Can’t say if it is a lot because location is a factor, size and current state. And if possible, do as much work as possible yourself. Good luck