I'm looking to renovate my home in New England, which is currently 1,152 sq ft. I plan to add a second story above the existing first floor, which includes adding two new bathrooms and a full kitchen remodel. A Design-Build company just quoted me $770,000 for the entire project, including mechanical, electrical, and plumbing (MEP) work, but I need to hire the HVAC specialist separately. The proposal outlines all the project steps but lacks a detailed cost breakdown. This quoted price doesn't cover the kitchen and bathroom appliances or fixtures. Does this price sound reasonable to you? It feels a bit on the high side, but since I intend to live in this house forever, I'm okay with spending a bit more. My initial budget was $650,000 for the project.
3 Answers
It does sound steep, especially at around $640 per square foot for the new construction. Have you checked local sales for similar quality homes? It might help you gauge whether the renovation is worth that price tag.
Wow, that's a big transformation you're planning! A $1 million+ house is definitely the end goal here, but I'd recommend checking with a realtor to see if that makes sense for your area. It might be your forever home, but you never know how market values can change!
Totally understand where you're coming from! The numbers can be a bit shocking, especially on existing home values. Even if you think it's not likely to sell for that much, it's good to keep your options open.
Honestly, it might be worth getting a few more quotes if that's possible. For that kind of money, you could almost consider rebuilding instead of just an addition. Looks like you’re doing a lot with this project, so make sure you're getting good value!
Thanks for the suggestion! I’m with a Design-Build company, so I can’t really shop around for other quotes, but it’s good to know!
No homes around here seem to hit that $1 million mark, even with the renovations included, which makes me wary. I'm definitely not seeing those prices in my neighborhood.