Gut Renovation Cost Estimate

[Kenneth Peagler]

So...I inherited a house and it needs to be gut renovated.  Soon, I will go in with contractors and get more specific numbers but what needs to be done is this:

1. Renovated bathroom

2. Renovated Kitchen

3. Plaster repair

4. Finishing a basement

5. Possibly converting an attic into a legal 3rd bedroom - which I know can be costly.

Maybe a new roof and it will probably be time to change that.  

The house is 1500 sq. feet.  in Pittsburgh, Pennsylvania.  Ill also have a home inspector come in before I go after specific work.  Also, since this is my first time doing this, any advice from contractors on how to tackle this would be greatly appreciated.  You guys are awesome!  Thanks in advance.

[Peter Schogel]

Hey Kenneth,

Welcome to the renovation world.  Seems like you have a lot of "maybes".  First, you will need to determine the absolute bare necessities of your rehab (e.g. replacing the roof, perhaps replacing the wiring, foundation/water issues, etc.).  Many homes in Pittsburgh are over 100 years old and having to replace the knob and tube wiring and plumbing on top of what you have already mentioned may be necessary.

Next, you need to decide what level of finishes you want to do (e.g., low-end to high-end).  For example, do you want basic countertops or granite?  A lot of this depends on the neighborhood and the types of finishes that comparable houses have.  Look at photos in Zillow of other homes in the neighborhood and the rent/price they bring. This will help guide you.

I know this really hasn't answered your "how much" question, but there are so many variables that it is hard to give an estimate.  Give us a better idea of where the property is and type of finishes/fixtures/appliances you want to have.  We should be able to give you an educated guess.  Good luck!