I'm getting ready to undertake a total gut renovation of my 1978 triple trailer.
It's roughly 1700 square feet. The roof is new. I have already bought the new kitchen cabinets and slab granite for the counters (not installed yet). I just had installed a brand new gas hot water heater. I bought all new bamboo floors, for the entire place (also not installed yet). I have the new washer/dryer (I'm using them now). I will do the entire gutting of the structure myself (I love demo work). It will be delivered empty for the appropriate contractors to do their particular specialty. All the above are paid for already, and my labor is free, so no costs yet.
I will need an entirely new HVAC system, windows, bathroom fixtures (medium grade), drywall (everything), electrical/plumbing updating, insulation, installation of kitchen cabinets and flooring, tile work, kitchen appliances and whatever else is required.
I live in Southern California, near Palm Springs. I own the trailer outright (no mortgage). It's roughly valued 'as is' at $100,000. I'm getting a home equity loan for the renovations.
1.) Roughly what would you feel comfortable guestimating a good loan amount to cover the renovations? I know exact amounts are impossible to know, just looking for rough ideas based upon renovations required.
I'm going to hire the sub contractors individually, as opposed to hiring a general contractor to oversee the entire process. Since I'm retired, I can be here daily overseeing the work done.
2.) Is it a bad idea to hire subs. myself or should I consider paying all the fees for having a general contractor? I'm thinking of using Angie's list to procure the subcontractors.
Any advice or opinions are more than appreciated. Thanks.
Gut Renovation
Moderators: Greg, Mark, mhrAJ333, JD
My advice is never trust anyone. If you know what you are doing then you can be the GC, money wise contractors will try to take you to the cleaners, guarantee one thing and then jack up the price.
I would advise not paying any contractor more than 1/3 up front and work out an exact pay schedule as you go along. Always hold back a minimum of 10% until the municipality has completed their inspection and passed all the work. Fly by night contractors are a dime a dozen so expect to run into at least 10 bad ones with the number of contractors you are hiring.
I know this sounds pretty pessimistic but all I am saying is trust no one. Times are tough and anyone with 5 fingers thinks they are qualified to be a contractor. Pride of workmanship is practically non existent these days.
On a $100,000 home you are probably looking at 30% - 50% of that in renovation costs.
I would advise not paying any contractor more than 1/3 up front and work out an exact pay schedule as you go along. Always hold back a minimum of 10% until the municipality has completed their inspection and passed all the work. Fly by night contractors are a dime a dozen so expect to run into at least 10 bad ones with the number of contractors you are hiring.
I know this sounds pretty pessimistic but all I am saying is trust no one. Times are tough and anyone with 5 fingers thinks they are qualified to be a contractor. Pride of workmanship is practically non existent these days.
On a $100,000 home you are probably looking at 30% - 50% of that in renovation costs.
An individual must enforce his own meaning in life and rise above the perceived conformity of the masses. (Anton LaVey)
I can give you my opinion, based on over 20 years working in mobile home repair. This would have nothing to do with what you could actually do. That would depend on the contractors you choose. If they are licensed (California anyways), they would be contractors and not subs, unless you actually give them contracts as THE general contractor. Not what you want to do. You are much better protected as a consumer. Just make sure to read the back of the contract where your consumer rights, insurance and lien information is, and perform all notices and such that you find. Expect to get charged for these notices. If there is no info there (or on the front), let him know that his contract does not comply with state law. Most states will have something similar. Using a general contractor could be a good thing. Depends on the price. There is no reason to think a GC would cost more than trade specific contractors hired individually.
Pricing. Sure you don't want to DIY? The fine folks here on the forum could help you through it. Sooo much cheaper.
Just down and dirty, off the top of my head, I added around $50K. There are so many variables, I could be plus or minus 25K. But I think I could come up with a decent plan for the items you mentioned. But a lot of your needs were a bit vague, Tile work? What are you tiling? Appliances come at all price levels. Is it just supply plumbing or drain plumbing also? New duct work for the hvac? I bet you will have to. Granite counters need cutting? Mitered? Undersink? Side edges finished? For a loan? I dunno. I am not Mr Finance, that's for sure. Maybe $75K?
And one more very important bit. I went to a Joe Bonamassa concert last night and it was kick as!!! Slow gin in my veins! <<throwing the horns>>
Pricing. Sure you don't want to DIY? The fine folks here on the forum could help you through it. Sooo much cheaper.
Just down and dirty, off the top of my head, I added around $50K. There are so many variables, I could be plus or minus 25K. But I think I could come up with a decent plan for the items you mentioned. But a lot of your needs were a bit vague, Tile work? What are you tiling? Appliances come at all price levels. Is it just supply plumbing or drain plumbing also? New duct work for the hvac? I bet you will have to. Granite counters need cutting? Mitered? Undersink? Side edges finished? For a loan? I dunno. I am not Mr Finance, that's for sure. Maybe $75K?
And one more very important bit. I went to a Joe Bonamassa concert last night and it was kick as!!! Slow gin in my veins! <<throwing the horns>>
☯JD♫
Today is PERFECT!
All information and advice given is for entertainment and informational purposes only. The person doing the work is solely responsible to insure that their work complies with their local building code and OSHA safety regulations.
Today is PERFECT!
All information and advice given is for entertainment and informational purposes only. The person doing the work is solely responsible to insure that their work complies with their local building code and OSHA safety regulations.
A PS to my above post, not wanting to 'edit in' and make that one longer.
In California, the maximum deposit with contract is limited to 10% or $1000.00, whichever is less. If you contract with these guys individually, 10% down, balance upon completion, period. With a GC, 10% or $1000.00 down and payments based on percentage of completion, determined and itemized before contract. Payments should not exceed the amount of fully completed phases. Don't pay for cabinets and wait for the trim. Pay for completed work only, and then still hold back 10% of that payment. You want your GC invested in your job and he/she should be confident and capable of carrying that load.
The 10% down payment (California) is usually called "code". But in fact, it is the law. The fines for getting caught are significant. Continued infractions could get jail!
In California, the maximum deposit with contract is limited to 10% or $1000.00, whichever is less. If you contract with these guys individually, 10% down, balance upon completion, period. With a GC, 10% or $1000.00 down and payments based on percentage of completion, determined and itemized before contract. Payments should not exceed the amount of fully completed phases. Don't pay for cabinets and wait for the trim. Pay for completed work only, and then still hold back 10% of that payment. You want your GC invested in your job and he/she should be confident and capable of carrying that load.
The 10% down payment (California) is usually called "code". But in fact, it is the law. The fines for getting caught are significant. Continued infractions could get jail!
☯JD♫
Today is PERFECT!
All information and advice given is for entertainment and informational purposes only. The person doing the work is solely responsible to insure that their work complies with their local building code and OSHA safety regulations.
Today is PERFECT!
All information and advice given is for entertainment and informational purposes only. The person doing the work is solely responsible to insure that their work complies with their local building code and OSHA safety regulations.