Contingency and hidden-condition checks for a 185 m² Athens renovation

[talia_checks]

Before asking for revised quotes, I have to choose between paying for targeted opening-up work and holding back a larger contingency. The present allowance is €516,200 for renovating a 185 m² serviced apartment in Athens, but the contractors have not excluded the same items. The scope covers the kitchen, bathrooms, floors, decoration, electrical investigation and limited energy improvements, with no extension planned.

The decision turns on access. If selected plumbing runs, damp areas and concealed electrics can be exposed and priced now, I could approve the project in stages and release funds as each risk becomes clearer. If access cannot be established, more of the budget needs to remain untouched.

I also want each contractor to state whether structural repairs are excluded, assumed unnecessary or included provisionally, and who pays for making good after investigations. Which openings or surveys would give the clearest answer without causing unnecessary work before the main contract?

 

[AveryGray]

With the scope still described that broadly, I would keep roughly 15–20% uncommitted rather than treat the whole €516,200 as available for specified work. Ask whether “electrical checks” includes repairs or only inspection, where plumbing can be accessed, and who pays for making good after investigation. Put all exclusions into one comparison table; otherwise the lowest quote may simply contain the least work.

 

[writesAndGrain]

Is the apartment currently vacant, and do you know the building’s age or renovation history? Those details could change both sequencing and the value of opening up selected areas before signing. I’d also ask each contractor whether their programme assumes permits are already resolved and materials are immediately available. A price without those assumptions can hide delay costs even when the construction allowance looks adequate.

 

[avery_rates]

I’m not convinced a larger contingency is the first answer. At about €2,790 per m², this is already a substantial preliminary budget, but the figure is not comparable while “moderate energy upgrades” and electrical work remain undefined. Require everyone to price the same room-by-room scope, identify provisional sums, and separate optional work. Then carry contingency against genuine hidden conditions, not inconsistent quotations.

 

[KindWorkshop]

A sensible next step is a targeted pre-construction investigation: moisture assessment around wet areas and external walls, limited openings where plumbing routes are uncertain, confirmation of the electrical work required, and a structural opinion if cracking or alterations raise concern. Then set a written sequence: investigations, design decisions, permit-dependent items, demolition, services, wet trades and finishes. Also ask for material lead times and responsibility for delays. Keep the rental-yield calculation separate until the revised scope and realistic completion window are clear.