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ballparking a figure for a gut renovation

wrkrwood | Posted in Business on May 25, 2012 02:04am

Hi,

Anyone know of a good way to do a very rough estimate for a gut renovation on a 3 story home of only about 2000 sq/ft total. I know this is super broad queston, but I was wondering if there’s a multiple one can use relative to where the work is done to get an estimate. I heard in the nyc area, to do a full gut on a small house like this multiply  at $80/sq ft. 

-WW

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  1. junkhound | May 25, 2012 04:07pm | #1

    42, general answer to everything.

    1. DanH | May 25, 2012 07:59pm | #2

      Yeah, but what is the question?

  2. DanH | May 25, 2012 08:02pm | #3

    A gut and rebuild is going to cost a substantial fraction of the cost of a new structure.

    And, since interior finish is a big variable in construction costs, your sq ft figure is going to vary widely depending on sort of details you want.

    1. wrkrwood | May 26, 2012 10:12am | #4

      Thanks for getting back.

      In New York, the metric for a high end gut reno is 400 sq./ft.

      This is not a high end reno, but not a low end either.

      Job is 4 floors 500 sq ft each. 

      demo/gut existing interiors down to studs

      new windows

      new electric

      new floors

      sheetrock, paint, simple trim

      make plumbing up to code

      roof as is

      Again, this is pretty broad I know.

       

      ww

      1. junkhound | May 26, 2012 10:33am | #5

        Have heard that you need to budget in about $150 per day for parking tickets doing any type of job in NYC.  True??

      2. DanH | May 26, 2012 02:26pm | #7

        Keep in mind that 2000 sq ft spread over four floors is going to be quite a bit more expensive than 2000 sq ft on the ground floor.  Just busting it up into 4 pieces adds to the cost, and the difficulties of hauling materials up and staging the work so that work one place doesn't damage work somewhere else further adds costs.

    2. Tim | Jun 18, 2012 12:37pm | #9

      Substantial fraction, like 1.2?

      Most renovation work costs more per square foot than new construction, except on a large scale.

  3. IdahoDon | May 26, 2012 11:52am | #6

    None of my gut remodels have ever come in that low and that's in Idaho!  For historic houses in your size range a nice but still middle of the road gut/remodel has been more in the $125/sq ft range - only slightly less ($25 to $50/sq ft) than new construction.

    It would be easy to spend twice your $80 in a high cost area like NYC, but if the framing is sound and doesn't need much work (if it's an old house it will need a lot of additional framing to bring it up to code), and your plumbing is in good shape (it won't be), and your foundation is level (ha!),  then if you were really lucky you might to it for $80.

  4. cussnu2 | May 29, 2012 03:59pm | #8

    Heck, your contingencies could be $80/ft in NEW YORK.....

    for instance your ren-o went from 3 floors to 4 floors in a span of a couple of posts. No telling how many more floors you might find before you get started.

  5. Tim | Jun 18, 2012 12:40pm | #10

    Superbroad?

    "I know this is super broad queston..."

    Is a superbroad like politically incorrect version of a supermodel?

  6. christena.schecher | Jul 02, 2012 12:37pm | #11

    get help with the pro's

    1. DanH | Jul 02, 2012 08:48pm | #12

      And, as a clue to know who the "pros" are, keep in mind that pros don't need to spam.

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