Renovation budget for a 190 m² student housing in Seoul / what am I missing at ₩1366,000,000

[mapTheTable]

I can either accept quotes with different exclusions or delay the appointment until every bid follows the same schedule, and neither option feels comfortable. The overall project figure is ₩1366,000,000, including a preliminary renovation allowance of ₩497,700,000 for 190 m² of student housing in Seoul.

The planned work includes kitchens, bathrooms, floors, painting, electrical inspection and remedial items, plus limited energy improvements; no extension is intended. Finish levels are not my main concern. Moisture around wet areas, concealed plumbing, the true electrical scope, material lead times and whether the building remains occupied could all disrupt the sequence.

Would you ask bidders to reprice against one common scope before setting a contingency? I’m also considering targeted moisture checks and opening selected plumbing access points, but would like to know what other findings should be verified before choosing a contractor.

 

[clear_wall]

I would not choose a contingency percentage until the quotes are put onto one common scope. “Electrical checks” could mean testing only in one bid and testing plus remedial work in another. Do the same comparison for plumbing access, moisture repairs, waste removal, temporary protection and making good. Keep identified but unpriced work separate from genuinely unforeseen conditions; otherwise the contingency becomes a hiding place for exclusions.

 

[bikesAndEcho]

Will the building be empty during the renovation? That changes sequencing more than the finishes do. I would also ask where the bathroom and kitchen pipes run, whether inspection points can be opened before pricing, and whether any previous leaks are visible around wet rooms or external walls.

I would be cautious about calling the energy work “moderate” until the exact measures are listed. Some apparently simple upgrades can create extra making-good work or clash with moisture management.

 

[lookTheRiver]

Before signing, ask each contractor for a room-by-room inclusion schedule and a written list of assumptions. Then arrange the programme around destructive investigation, plumbing and electrical decisions first; finishes should come later.

Also ask which items have long material lead times, who is responsible for permit timing if approvals are needed, and what happens to cost and completion dates when concealed conditions are found. A short pre-construction investigation may be more useful than simply enlarging one contingency pot.