Renovation budget for a 2,100 sq ft mixed-use building in Austin

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FirstKey

Homeowner
Established
The possibility that opening a single wall could reshape the whole job has made me question whether $210,500 is a meaningful budget yet. The property is an older 2,100 sq ft mixed-use building in Austin. The intended work includes new kitchen and bathroom elements, replacement finishes, electrical investigation and some energy-efficiency improvements, but no added floor area.

I’m more concerned about concealed moisture, services and the order of the trades than premium finishes. What contingency would you hold before invasive checks, and what evidence should I request from a condition survey and each bidder? For example, I want to know who bears the cost if damaged framing appears behind a bathroom wall.
 
At this stage I would carry roughly 15% for unknowns, moving closer to 20% if there is no invasive investigation before contract. Ask each bidder to list exclusions for concealed wiring, plumbing repairs, moisture damage, hazardous materials, code-related corrections and work outside normal hours. The exclusions may tell you more than the headline price.
 
Will both parts of the mixed-use building be vacant during construction? If either use stays open, phasing, temporary services, dust control and repeated mobilization could affect the budget. I’d also want the $210,500 separated into trade allowances rather than treated as one number, especially for electrical and bathrooms.
 
I’m less convinced that a larger contingency solves this. “Electrical checks” is too vague to price responsibly: inspection only, selective replacement, panel work, new circuits for the kitchen, or making good after access? Define the intended outcome first. Otherwise contractors will make different assumptions and the bids will not be comparable, however much contingency you add.
 
Plumbing access and moisture deserve early attention. Map where supply and waste lines run, identify which walls or ceilings must be opened, and inspect around bathrooms, the kitchen and exterior penetrations. Ask whether the price includes opening and closing those areas. A small set of planned exploratory openings could be more useful than discovering everything after demolition starts.
 
Sequence the decisions around what can stop later work: investigation, design clarification, permit path, demolition, concealed repairs, rough electrical and plumbing, inspections, then finishes. Also ask contractors which specified materials have meaningful lead times and when selections must be released. Flooring or fixtures arriving late can leave completed rough work sitting idle.
 
One caveat on exploratory work: coordinate it with whoever is assessing the building and the permit approach rather than opening walls randomly. Since no extension is planned, it is easy to assume structure is irrelevant, but existing framing can still become part of the discussion when walls are opened or services are rerouted. Austin-specific requirements should be confirmed locally.
 
I’d turn this into a short pre-bid list: occupied or vacant phasing, defined electrical outcome, plumbing access plan, moisture investigation, any structural observations, permit responsibility, material release dates, and a written schedule of exclusions. Then keep contingency outside the contractor’s base scope and require approval before it is used. That makes the $210,500 easier to test against comparable assumptions.
 
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