Help with our reno costs
We are planning a major renovation of the top floor of our house in Sydney. It’s an old, mostly red brick home likely built some time in the 50s. It’s a fairly large house on a 450 square meter block, three bedrooms and single bathroom upstairs. We are not renovators and have been looking for a builder to project manage the reno.
We have been given the following building cost estimates, and given that we have no prior experience with renovation, we are wondering how these stack up with other peoples costs and experiences.
We are making some big layout changes to the living and kitchen areas of the house, basically creating one large open space living/kitchen/dining area.
We are also slightly extending the size of our bathroom. The work involves knocking out two major walls and placing two large currently exposed supporting beams into the ceiling, installing a new kitchen and bathroom, new windows, new external cladding, new balcony and staircase, new electrics, new plasterboard for ceilings and walls, two new wardrobes, new skirting and architraves throughout.
The quote rounds out to about $350 000 all up, not including our PC items, flooring and paint.
We figure that once we add our PC items, painting, new gutters and downpipes, and the new flooring, we’d be looking at something around $400 000 (thats for one single story of the house plus the external work). We know this could blow out even further with asbestos removal and other potential things that may come up.
The breakdown of some of the costs (supply and install) include:
Bathroom $35 000
Kitchen $30 000
External cladding $25 000
New Balcony $25 000
Staircase $10 000
Skirting and architraves $10 000
Installation of new beams to sit flush with ceiling $10 000
Demolition $15 000
Waste removal $6000
Management fee $38 000
Very interested to hear anyone’s thoughts on these costings and the overall figure...