How many estimates have you received? Be sure to get several! Also, is it possible to do any of the work yourselves? You'll save $ if you can learn to DIY here and there. Too, consider not getting everything done at once. I know that's probably not what you want to do, but you sound like me and DH -- finances must prevail, unfortunately. Which job(s) do you consider absolute necessities for you to continue to live there happily?

Is it possible to do any of the work yourselves? Have you gotten more than one estimate?

tina

I can only offer my sympathy and echo what the others have said.

I recently had a brick walkway installed. I got 12 estimates (yuh, a little much, I admit) which ranged from $3000 to $12,000.

Recent estimates for electrical work ranged from $625 to $2000.

Is it possible to get more estimates?

*Definitely get more estimates!!*

Especially on the ac installation. We get new central air installed on our homes for less than $4000 and that includes ductwork and the whole shebang (YMMV).

I've had estimates vary as much as $20K from one contractor to the next-- that amount isn't insurmountable although I'm sure it feels that way at the moment... start breaking it down and whittling at the individual amounts for each project. You can do it!

If you'll post in more detail, I'm sure those here can give you some good ideas on where to look for areas to cut and/or substitutes that cost less :-)

That is a shocking number for you, I am sure, especially when it doesn't include a lot of big items.

So, what does it include? No counters or cabinets or appliances for the kitchen - what IS covered?

Have you gotten more than one estimate?

What things could you do without for a while longer (perhaps the deck, some or all of the carpeting, etc.)? What materials, etc are being used that could be modified (laminate counters instead of granite, for example). What things are cosmetic versus things that will make the house more liveable and usable for you?

When you estimated your $50k number, did you do that based on research, or just thoughts and things you had read? If you watch the home makeover shows, a pretty standard kitchen size, with a pretty basic makeover, tends to be $30k at least. But it also depends on labor charges and where you live.

I would think that you should be able to get some decent pricing right now, considering the housing market is in the toilet and lots of places have overstock on supplies, and construction people are sitting idle.

If you haven't gotten more than one estimate, that is the first thing you should do.

You know, I saved money by being my own contractor. I would have spent $42,000 more with a contractor and had the same end result. To me, that's more than pocket change. I had my idea of what I wanted, I shopped for tilers to do side work, granite people to do contractor work so it was guaranteed and got the same people who did the granite to do all my bathroom work. I knew they were competent and I hired them on the side, so tile company did not have to make money and I bought the tile cheaper. Are your cabinets really bad? Can you paint them, add new hardware and get the same look? Do you have to have all brand new? Can you settle for something less but something that is timeless as well. Can you go to out and buy a GE Profile stove and save money over a Wolfe or an Aga? Can you use a Sears dishwasher as opposed to a Fisher Paykel? There are so many short cuts you can take and still have a good end product. The look that is today will be out tomorrow and so you can get the up and coming look if you do it yourself for less than what a contractor would charge you for doing the planning. Sit down and make out a plan, then start shopping and before you buy, just look around and see what you can find. I got plumbers in far different price ranges and I went with the one that I knew would do the job. Maybe high end there, but plumbing was important, but had I hired him through a company he would have been twice as high. Get people who can do work for you that you can contract, who others have used and will recommend.

It depends where you are and what exactly the remodel includes. Are you moving walls, plumbing etc? Builder basic fixtures or high end. Etc. It will impact the estimate greatly. For cabinets check out Ikea..seriously. They are affordable, highly rated and offered in many styles.

I am in the midwest and our deck estimate alone was 10k, painting was about 1k per room. A bathroom model here, on the budget side, is no less than 7500. A kitchen can range from 10k to 100k here. Counters can be anywhere from $500 to $5000 or more. Same with appliances, you could spend $1500 to $10,000 or more. I haven't priced out central air, so can't comment on that. I would write out the specs of the job and get additional estimates. You need to make sure each company is quoting for the same things otherwise you can't do an apple to apple comparison. And get them to break out the estimate line by line if possible. For exterior painting, quoting for the exact same work and paint, the estimates ranged from 3k to 15k.

I agree with others that you should get more than one estimate. But, honestly, $70K doesn't sound that bad, in terms of everything you want to do. Most new kitchens alone cost between $30,000-$50,000 for a basic kitchen--at least, where I live?

Agree on getting those estimates, and get a dozen if you have to. (That's what I did for our vinyl siding.) I started in June, had estimates from $9500 to $15K Average was $12k. All were using the same brand/manufacturer of siding. My preferred contractor (good reputation and I've used him for other work) was busy during summer, he finally came by to give me an estimate in Sept. (I was in no hurry.) Well, he came in at $7500, and I grabbed him. Why was he so low? One reason was I point blank told him who I had out to get estimates from (but didn't discuss price, being a 3rd generation local GC, and knowing all other GCs were local, figured he had a pretty good idea of what they quoted me.) He really undercut their price to get the job. His main reason: going into cold "off season" months he wanted to keep his guys working. They did the siding in Nov. after they wrapped up a major house renovation a few blocks over, his guys got some winter work and we got a great deal on siding install. ;) I'm about to call him for doing our deck. Crazy time of year, but it pays ;D

Sorry to hear about that. It's always shocks me how much everything costs and it takes me awhile to get over it.

I live in Seattle and just recently completed a bathroom remodel where I was my own general contractor so I did save some money, but it ended up costing me about $18K to remodel a *tiny* master bathroom. Granted, we chose nice tiles and fixtures but we were getting quotes for about $20-30K for a lower-end to medium quality materials. We also did a basic remodel on our main bathroom 3 years ago. We did this ourselves and didn't use any fancy materials (purchased tiles, vanity, fixtures from HD/Lowes) and the materials alone came out to be $1500.

We also remodeled our kitchen ourselves 4 years ago - new cabinets, mostly new appliances, new floors, etc. We paid for an electrician to install canned lights, and we paid for a small plumbing job but we did all the work ourselves. The cost came out to about $28K.

So, I think if you are going to get someone to do all the work for you, you'll have to change your expectations. Even if you do all the work yourself, everything could still come out to be about $50K since materials/fixtures/cabinets are expensive even when you try to get lower end stuff. Sorry. =(

yianna...I'm at the tail end of our remodel...

HVAC for 1100 new square feet ($4750) (so unless your home is very larger that can give you a ballpark

Electrical work (reworking entire kitchen, adding electrical to the new sq. feet, materials..loads of 12-2, 12-4 etc. wire, upgrading from a 200 panel to 400 etc.) ($3000)

Brand new kitchen, 14x11 plus island, cabinets + counters + appliances (16k) (Silestone counters, solid maple/alder cabinets) Mostly GE Profile appliances...retailed for over 10k...paid less than 4k for them all...shopped store models on clearance...

New flooring in 4000 sq. feet of space (I did the tile work myself, paid to have white oak sand/finished..but I stained and put first poly coat on...brand new carpet in other areas...total for ALL 10k including the labor to install and finish...

I framed out unfinished upstairs...added 2 skylights, one new window...french doors, trim, paint, redid all the bathroom vanities/toilets/flooring for the whole house...added a bathroom...for all under 50k...so for your little rowhouse...I think you could manage to do all you need to do for 40k or less...you just need to see about contracting yourself and getting some quotes...People are shocked by what I paid some subs...paid painters $750 to paint 1000 sq. feet and prime/paint ceilings (9 ft. ceilings)...paid $650 to trim guy to hang 8 sets of doors, do all base molding for new area and provide quarter round for 1500 sq. feet of wood flooring...most painters around here would have charged $3,000 or more to prime/paint that area....I got a great crew of people who knew I was doing a lot of the work myself and were very nice to help me find good referrals..

It can be done..don't cry...only cry when it's done and you don't have to do it again! :)
Tara

Have you tried Angie's List in your area? These are workers who are licensed and have been approved by actual homeowners who have had work done.

You may get a free first time estimate, but otherwise it may cost a little, though I can't remember how much. Take a look at their website to learn more.

Thanks everyone for your responses so far.

I really like the guy we are with right now. He has done work for a few other people we know so I am familiar with his work. I may get a few more estimates but I can't see it being any cheaper with the amount of work we are doing.

One good thing is our house is paid off so we would only need to get a small loan. We have some money saved to put down.

The way this house is set up, our kitchen is in the basement and the cabinets are the ugliest things ever.

We are moving the kitchen up to the main floor. Actually, this was a cheaper option than remodeling the original kitchen (less work to be done).

So here is the breakdown: Estimate $46,300.00

Bathroom (11,000)

Demo the whole thing and move tub to where toilet and sink is, and toilet and sink where tub is. Also, there is a small closet in my sons room that the back of it comes into the bathroom. We are knocking that down and using the space for more bathroon. This includes new lighting, receptacles, tub, plumbing, toilet and sink. plus paint.

Kitchen (16,400....doesn't include cabinets, counters).

we do have an allowance of $3 per square feet for flooring.

this estimate is basically relocating the kitchen, demo any elements in existing room, replace one window with door for access to deck,. A window to be installed over sink, frame walls for cabinets, design and tray ceiling, new wiring for lights, receptacles, insulate exterior wall, drywall to any areas, install floor, and install counter tops, cabinets and appliances.

New Office (6,400)

This one we are actually going to talk to him about because it seems pretty high. This is going to be the room where current kitchen is in now.

Demo existing cabinetry (My DH just said he may do this so that should save some money)

Construct bulkheads and drywall as needed, replace entry door, repair stucco on lower rear exterior.

MISC (7,700)

Whole house paint
Replace front exterior door
laminate living room north wall
bulkhead any areas to conceal duct work
Build wall with 2 doors seperating storage area in basement
install chair rail wainscot moldings in living room/kitchen and master bedroom (may knock some of this out)

Install electricity for deck
paint exterior back

DECK (4,800)

Plus we hav some allowances for doors, plumbing fixtures, electrical fixtures, and flooring.

Someone else is doing our central air and that is $7,100 (usually $10,000 around here)

We still have to provide the paint (wich I can get pretty cheaply thanks to a painter cousin), all the berber carpet, and buy countertops, cabinets, fridge, stove, etc.

Plus all the other small things we will need like a few pieces of furniture.

Anyone have suggestions for the best loan to get? Is a Home Equity loan the best?

If I asked for all that done I'd be looking at 70k PLUS another 100K. Five years ago I called up a kitchen designer and told her I had 40k for a kitchen remodel and she practically laughed at me, told me to consider cabinet refacing! Then I learned that the average kitchen costs $80k in this area. So it all depends on the value of houses in your part of the country (which can't be CA!), you want to be able to get your money back when you sell.

Have you considered IKEA for cabinets? Between our daughter and us, we have put IKEA kitchens in three houses and one apartment and we are all very pleased with them. I priced one kitchen out using Home Depot's cheapest stock cabinets, which aren't as good quality as IKEA's, and theirs were twice the price of IKEA's with fewer door choices.

We plan on reworking our current IKEA kitchen with different doors and some added cabinets in a few years. (The one we have now was an interim kitchen until we do a major remodel.)

I know it won't help your current bids since cabinets weren't included. But it could keep your overage down.

Oh, you need a good bath!

Yes - definitly get a few more estimates and use all the above suggestions - but I will take a different avenue and address the psychological part of your post. These money things are totally overwhelming (I cry all the time about them). So, once you have decided who you are going to use and what portions of the remodel you are/are not going to do - concentrate on your amazing life and baby to come!! Don't let the money totally overwhelm you and take away the happiness with your house.

I have to tell you that your breakdown looks more than reasonable. $11k for a total gut bathroom INCLUDING moving pluming is a great price. I'm looking at at least twice that with only minor movement of drains in basically the same location.

If you have someone you trust I would go with him personally. Price should never be the deciding factor in choosing a contractor. Yes, it will always be a factor but it shouldn't be the most important one.

Yes, I think you need to stick with that guy after seeing the list. Even in the south where prices are lower, labor is still high and that would probably be about $250,000 here.

Ok guys, you made me feel better already:)

Wow, so you're not just renovating a kitchen -- you're creating a kitchen from scratch!

Talk to the guy and ask him where you can save some costs. He might have some ideas...

For us, a second mortage was better rate and terms than a home equity loan. Get one with no prepayment penalty. In our area, credit unions are great sources of home loans. Shop around for this also.

Whenever you move plumbing it cost a lot of money. That's the only thing that I could see driving the estimate way up there.

remodel: 70K

not having to deal w/ fussy buyers, incompetent realtors, stress of selling home in a tanking market, not having to pay a mortgage, and still getting the house of your dream: PRICELESS. :-)

I don't want to be the bearer of bad news, but also be prepared to have cost overruns. I have never heard of a remodeling project in which something unexpected didn't happen which added to the cost. With all the work you've outlined, I'd make sure there was a cushion of funds set aside.

My husband is in great fear of our buying a house we both love, but the house needs about 50 to 75K in remodeling before we could move in. He has a good income, the move is affordable, but we don't have much equity in the two year old house we now live in and not much for a down payment in the house that we would buy and remodel. Oh, we are in Georgia.

My husband fears that the present housing market makes it to risky to buy this home, go through remodeling for four or five months, then risk having to take a big loss on the house we are in since the market seems so sorry now. We have been told that if we didn't take some loss in our present home we could be dealing with two house notes for quite a while.

Many of you seem to be doing some extensive remodeling.
I don't want to push my husband into anything that might be a little risky.

Do you think that maybe we should just sit still for a while and put some money away before we risk to much with all that interest and remodeling expense? And, I don't want to end up crying.

I am concerned that your estimate might actually be too low. That is a ton to do for the price. Hopefully it will come in close, but if you are getting a loan you should budget for atleast 30% over. HELOC are good, but know that many times the rate is not fixed. The plus you only pay on what you use (kinda like a credit card) and can make interest payments only (not recomending that).

Since you owe no money on your existing home, you'll get a much better rate and terms by doing a construction loan, then rolling it into a normal mortgage when the job is finished. I would HIGHLY suggest you apply for $100k. The work you're doing needs to include cost over run figures (and in one year...tell us what it cost...I bet it is at LEAST $100K). I'm doing a similar project...I'm pushing three times that figure. Yes I'm using some expensive products, but the basic GC fee was over $80K, and the plumbing and electric will total over $30K together.

When your home is finished you'll have a final inspection and they'll wrap the deal into a full mortgage. They can use tax assessed value most likely (if the $100K is less than 80% of that figure) so costs will be quite low. I'm not sure which states still allow pre payment penalties (I thought most of those were gone by now) but do make sure there isn't one.

Also, don't use an internet loan service. Go down to your local "big bank" (ie BofA) and a credit union if you must (I don't like them because they don't have to follow CRA) and then a local bank (state or community wide only). Compare apples to apples (same terms for the final loan, and ask what they can do with the construction portion) and compare the APR to the other APR's (not just the rate..which does not include the fees and other hidden or not hidden costs) and you'll know who has the best deal.

DO NOT borrow more than 80% of the value of your home please. If you do, you'll be dealing with predatory lenders most likely. Please don't! (20 year banker begging you here).

Thanks for the advice!!