Jacksonville, FL · Member since 2017 · 19 posts · 3 votes
My husband and I are seeking contractor bids to renovate our first buy-and-hold duplex, which was built in 1918 in Norfolk, VA. I know that renovation costs change from area to area and that each house, with it's unique challenges, is different. However, I was wondering if BP members could share average costs for renovating older houses so that we can judge if our bids are sound.
Also, what are your thoughts on using contractors who refuse to provide anything but a "total cost" estimate, as opposed to itemized list of job costs?
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
8y
@Brittany Regts - It is impossible to estimate the costs without seeing the property. I live in an area with 100+ year old properties and one big challenge is the property is grandfathered into the building code, because universal building code was established in the 1970's. So the property can remain grandfathered in until you mess with it, then it has to be brought up to new code. So make sure you check with your city.
As far as the total cost, I would expect that to be normal until you hire the contractor. They should be able to provide a general breakdown and ballpark cost but it probably takes 10+ hours to write up a detailed scope and why would they do that if you are just in the exploratory phase?
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
8y
@Brittany Regts - It is impossible to estimate the costs without seeing the property. I live in an area with 100+ year old properties and one big challenge is the property is grandfathered into the building code, because universal building code was established in the 1970's. So the property can remain grandfathered in until you mess with it, then it has to be brought up to new code. So make sure you check with your city.
As far as the total cost, I would expect that to be normal until you hire the contractor. They should be able to provide a general breakdown and ballpark cost but it probably takes 10+ hours to write up a detailed scope and why would they do that if you are just in the exploratory phase?
Plymouth, MA · Member since 2018 · 31 posts · 6 votes
8y
Hi I’m a contractor in ma and agree with Brie on both her paragraphs .. especially with the breakdown of materials and labor on an invoice. Once signing on with the contractor they should be able to breakdown all aspects of the job anyway you want it..
Flipper/Rehabber · Maumee, OH · Member since 2017 · 39 posts · 23 votes
8y
I am working on a 100+ year home now. Some challenges we have faced are bringing electrical up to code (if you change so much as an outlet or light fixture, it's a requirement in my state) and house settling that makes all flooring except for carpet a challenge (contractors will want to put in all new sub-floor or they can't promise their work will not be without many issues).
Hopefully, your foundation is good. Mine had had previous work done and was good. Otherwise, we would have been way in the hole. Good luck!
Real Estate Entrepreneur · Concord, CA · Member since 2015 · 40 posts · 14 votes
8y
@Brittany Regts, I just purchased a duplex in Ohio that was built in 1930. One side had a tenant and the other side was vacant leaving me to rehab it. I can tell you from first hand experience that depending on how well the former owner kept it you will have your hands full. To date, since December 2017 I have been in a current state of rehabilitation of the one side. Back then they used plaster for the walls so I have had to re-drywall the entire interior, all four floors, install new electrical wires throughout along with a new box, all new plumbing lines, and support beams in the basement to correct the uneven floor. That’s just the tip of the iceberg, be prepared for a full gut in all honesty. Then comes the issues with the other side unless of course you have a complete empty home. As far as a contractor who won’t give you an itemized rehab list, I wouldn’t pick them... you want an itemized list because in a house that old everything that can go wrong will and you will want to replace everything the first time! Good luck!