Renovation budget for a 70 m² coastal home in Athens (3 bed)

drawTheTrail

Homeowner
Established
The immediate problem is that the contractor quotes do not cover the same scope, so the totals are not yet comparable. The project is a 70 m² coastal home in Athens, and my working renovation allowance is €202,000.

The work would include a new kitchen and bathrooms, floors, paint, electrical testing and some energy improvements. I am not planning an extension, but concealed moisture or inaccessible plumbing could still alter the job substantially. Permit timing may also affect the order of work.

Would you set the contingency only after the surveyor has clarified those risks, rather than applying a standard percentage now? I would also like to know what wording to request on plumbing access, remedial electrical work, moisture sources, reinstatement and responsibility for permit delays.
 
I would provisionally hold 15%, rising toward 20% if plumbing routes cannot be inspected or there are signs of persistent moisture. Ask each contractor to define whether “electrical checks” includes only testing or also remedial work, and whether bathroom pricing includes opening and reinstating walls or floors. Those two phrases can hide a lot of scope.
 
Also, can the plumbing be reached without removing finished surfaces, and will the house be empty during the work? Access and occupancy could change the sequence considerably. I’d ask the surveyor to distinguish cosmetic damp from an unresolved source and to flag anything that might turn the supposedly non-structural renovation into structural repair.
 
I’m not convinced a larger contingency fixes quotations with inconsistent exclusions. You could reserve 20% and still lose control if every discovery becomes a separately priced variation.

Give all bidders the same room-by-room scope and exclusion schedule. Include demolition, waste removal, making good after electrical and plumbing work, moisture treatment, protection, testing and final cleaning. Then ask who carries permit timing and material lead-time risk. Compare the revised quotes before settling the contingency.
 
That distinction helps. I’ll first standardise the scope rather than simply adding a percentage to incomparable totals. I’ll also ask for plumbing access points, moisture investigation, the exact meaning of electrical checks, permit responsibilities and lead times to be stated in writing. After those answers, I can split the reserve between known allowances and genuinely hidden conditions.
 
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