All Topics / Value Adding / Judging whether a price of builders reno quote is fair and correct…

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  • Profile photo of darkness72darkness72
    Join Date: 2013
    Post Count: 51


    I have a property that I need to get renovated at short notice.

    And need to get renovation quotation – signed to contract very soon.

    I have received a quotation, and am wondering how I could best judge if it is fair and at a reasonable price?

    Reno of good sized 2 bedroom unit, to a higher that average quality finish.
    New bathroom, new kitchen, new laundry, remove carpets, polish up floorboards, new carpets in bedrooms, new light fittings, switches and points. Painting throughout. New internal door levers etc, new curtains throughout.

    I know its hard to base a figure on what you can’t see, but would 50k be in the ball park, or should it be a lot lower.

    Much Thanks

    Profile photo of Made_ManMade_Man
    Join Date: 2013
    Post Count: 35

    $50k sounds fair. We done a similar reno with me doing most of the work and it set me back around $35k
    i saved about $7k on the painting and i also saved more by doing the electrical and demolition myself

    Profile photo of CatalystCatalyst
    Join Date: 2008
    Post Count: 1,404

    Too difficult to say without knowing how if the apartment is and where etc.

    We reno a whole house for $15K but we do nearly everything ourselves. Can you do anything yourself? Even the ripout saves thousands. If you can project manage it yourself (ie organise separate tradies) that will save many thousands too. The builder will have a % (usually 10%) on top of what all the others charge. Of course this takes time and time = money.

    $50K is a lot. I’d be getting 2 more quotes.

    Profile photo of GinnyGinny
    Join Date: 2015
    Post Count: 4

    I think 50 sounds a lot for a 2 bed place

    Profile photo of KatarinaHKatarinaH
    Join Date: 2015
    Post Count: 10

    First advice: get a second quote. If you really don’t have time for that, get references from the builder and ring his former clients. If possible, even go around to see his work.
    Second advice: make sure you spell everything out you want done. Don’t assume the builder knows what you expect, that’ll cost you. If you are not sure, sit down with him and discuss in detail. Make sure your contract is a fixed-contract, that way you can only be charged for additional work or change in scope.
    Can’t say if it is a lot because location is a factor, size and current state. And if possible, do as much work as possible yourself. Good luck

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