We selected four contractors to bid on the plans we have to renovate The Glade. Our budget tops out at $150,000. That’s an important figure to keep in mind as the estimates arrive.
The following four contractors gave us very nice proposals but some were (unfortunately) in ball parks in other cities. One was actually out of this world.
1. Contractor/carpenter who built our shed and has lots of experience working on historic houses. We’ve known this man and his work for many years. Only downside: he’s expensive!
He came by one morning with his electrician, plumber and HVAC tech all of whom impressed Charlie with their knowledge. Before they left I told the contractor (who would be doing most of the work himself with his small crew) our budget and he didn’t wince.
2. Young contractor/carpenter who comes highly recommended by landscape architect friend. He may not have experience on a project as large as ours but he brought an older, more experienced colleague to look at the job.
He is local and very pleasant but his estimate of the entire project is $284,000. Of course we’d love this top-notch, top of the line approach but would not even consider adding twice the value to the present house. We would go from being one of the low values in the neighborhood to one of the most expensive. Not an option.
3. Builder we originally interviewed as a designer option. He has the experience and level of expertise this job warrants. He is a contractor; he oversees all the work but sub-contracts it out.
He arrived on schedule one morning with three of his sub-contractors: plumber, electrician, and heating/air conditioning technician. We explained the scope of the project to all of them.
He got back to us with a note that he would not build the roof on either of the additions as designed; that we should notify the architect to redesign the roofs. His estimate was $244,000 BUT that did not include kitchen cabinets nor appliances. Come on now!
4. Contractor/plumber who is very busy and comes recommended as a perfectionist came to glance over the property and pick up a set of plans. He and his partner do all the work: carpentry, plumbing, tiling; everything except electric. His estimate is $275,000.
So far the estimates don’t look very good. We cannot justify doubling the value of the house not to mention we just don’t have that kind of money. We’re loosing hope that anything will be built.
What shoots holes in your hopefulness?