The budget has little value unless the unknown work and permit timing are allowed for. The property is an older 1,020 sq ft small multifamily in Los Angeles, and my preliminary renovation figure is $107,400.
The planned work includes the kitchen, bathrooms, floors, painting, electrical checks and some energy-efficiency improvements. There is no proposed extension. My bigger concern is what may be discovered once walls and flooring come up, especially where plumbing is difficult to reach.
What contingency would you set aside? Before accepting the budget, I also want to know what contractors and inspectors should confirm about moisture, wiring, structural issues, plumbing routes, exclusions, lead times and permits.
The planned work includes the kitchen, bathrooms, floors, painting, electrical checks and some energy-efficiency improvements. There is no proposed extension. My bigger concern is what may be discovered once walls and flooring come up, especially where plumbing is difficult to reach.
What contingency would you set aside? Before accepting the budget, I also want to know what contractors and inspectors should confirm about moisture, wiring, structural issues, plumbing routes, exclusions, lead times and permits.