Hi everyone! I'm a first-time homeowner and I'm considering a renovation for my late 1960s house. The house has about 2000 square feet, with 4 bedrooms and 2 bathrooms on the upper level, plus a partially finished basement that's roughly 1000 square feet. The basement hasn't been updated since the house was built, so it will need a complete gut job before I can refinish it. It's got a laundry room and a bathroom down there too. I received a quote from a contractor with great reviews, but I'm not sure if it's reasonable. Here's the breakdown: they'll handle the demolition and full remodel of both bathrooms, paint the entire interior, install a kitchen backsplash, put in an exterior vent for the microwave, add under counter lighting, install puck lighting and ceiling fans in every room, demo the basement and get it ready for remodeling, finish the basement with drywall and drop ceilings, put in electric and lighting, install waterproof flooring, paint the basement, and remove all rubbish. The total investment for labor and materials comes to $178,950. What do you think?
2 Answers
Honestly, that quote feels excessive to me. If you're getting a good vibe from the contractor, it’s worth discussing the price directly with them. Also, keep in mind that local labor rates really do vary; it might be beneficial to compare quotes from different contractors before making a decision.
Definitely get a few more estimates! It’s always good to have options.
That quote does seem pretty steep! It's essential to get detailed construction drawings and project specifications, as you'll need stamped plans for permits. Be sure to get at least three bids since costs can vary significantly by location. In Central VA, skilled trades can charge between $90-$200 per hour or even more. Just for reference, kitchen and bathroom renovations can easily reach $1000 per square foot depending on material quality and location.
Thanks for the insight! How much do you think the whole project should generally cost?
Do you have a rough estimate of what other contractors have quoted for similar work?
Yeah, that's what I was thinking too. Maybe I should ask other contractors for quotes.