Renovation budget for a 245 m² student housing in Dublin — second opinion?

A

AmesQuinn

Property investor
I need to settle the working allowance before moving from preliminary planning to firm contractor quotes. The trade-off is whether to keep the current €176,400 budget for this 245 m² Dublin student housing property or increase the reserve before the hidden conditions are properly tested.

The intended work includes kitchens, bathrooms, floors, painting, electrical assessment and moderate energy improvements. There is no extension in the plan. I am less worried about finishes than about moisture sources, concealed plumbing, electrical remedial work and the order in which rooms can be taken out of use.

What would you require the surveyor and bidders to investigate before choosing a contingency? I want each quote to distinguish testing from repairs and to state assumptions about access, opening up, reinstatement, waste and drying time. If permission or permit timing is unresolved, would you hold a larger reserve now or delay fixing the budget until the scope is confirmed?
 
I would not settle on one contingency percentage until the intrusive checks are done. Ask whether the electrical allowance covers testing only or actual remedial work, and whether plumbing prices assume easy access without lifting floors or opening walls. Also get explicit inclusions for waste removal, making good and drying time. Those boundaries can move the total more than the finishes.
 
How old is the building, and will it be occupied during the work? Sequencing bathrooms in student housing is very different if some rooms must remain usable. I’d also ask the surveyor to trace visible moisture to its cause rather than simply record damp readings. A leak, failed seal and poorly ventilated area can require quite different scopes.
 
I’d be cautious about assuming “no extension” means no structural risk. Once kitchens, bathrooms or flooring are stripped, previous alterations or damaged substrates may appear. That does not automatically justify a huge reserve, though. A defined provisional allowance for opening up selected areas could be better than inflating every trade price. Have the contractor state what evidence would trigger extra work and how it would be priced.
 
Agreed on targeted opening-up, but it needs to happen before the programme is locked. I’d ask bidders for a room-by-room sequence, the last dates for ordering long-lead materials, and a list of client-supplied items. Separately confirm whether any part of the proposed work needs permission or other approval in Dublin, and who is responsible for timing it; don’t let that sit as a vague contractor exclusion.
 
Make the tender comparison mechanical: same scope, same quantities where known, and a written exclusions schedule from each contractor. Split the €176,400 into fixed work, provisional items and contingency rather than treating it as one pot. Before appointing anyone, resolve electrical remedials, plumbing routes, moisture causes and substrate condition as far as practical. Keep the remaining contingency under the client’s control, with written approval required before it is used.
 
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