Looking for a second opinion on a quote from a contractor

[Ryan Kucey]

I get possession of my first property that's a duplex here in Nova Scotia, Canada, and we got a $40k reno budget built into the mortgage. I made the mistake and told the contractor when he was in doing the quote that we were hoping to get the full $40k reno budget from the lender.

I'm hoping to get a second opinion on our quote. It's a tough market for us here as most contractors are booked up several months in advance. So I'm at the contractor's mercy and replacing him won't be easy... we need to get all the work done within 90 days for the lender to cover it. 

Here's the list:

Upstairs Unit

· Demo of kitchen

· Demo of bathroom

· Replace countertop to a stone counter (Color to be selected by customer, $3000 allowance)

· New stone island countertop ($1500 allowance)

· Island cabinets ($1000 allowance)

· Design, Build, Install Ikea Kitchen cabinets (Kitchen & Island)

· Ikea Kitchen Cabinets ($119 Linear Ft, 20 Total Linear Ft)

· New 12 x 24 tile installed in kitchen (145 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· New 12 x 24 tile installed in bathroom (65 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· 3 Pcs Tub surround & vanity ($2000 allowance)

· Installation of 3 Pcs Tub surround & vanity (Removal & rebuild of wall)

· Plumbing Kitchen, Bathroom & W&D Hookup (Licensed plumber included)

· Install a washer & dryer hookup in bathroom or spare room - 24” W&D not supplied

· Electrical for W&D hook up (Licensed Electrician included)

· All additional flooring in unit to be replaced with 12 Mil laminate (800 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· Removal of old carpet & linoleum flooring

· Removal & disposal of all garbage (upstairs & downstairs)

· Install & supply kitchen sink (Allowance $500)-(No charge for installation, included with counter)

· Install dishwasher (Does not include Dishwasher) - Plumbing included

· New baseboard through out the entire unit (150 Linear Ft) includes MDF trim up to $1.15 LF

Downstairs Unit

· Demo of kitchen

· Replace countertop to a laminate counter (Color to be selected by customer.) ($600 allowance)

· New 12 x 24 tile to be installed in the bathroom (50 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· New 12 x 24 tile to be installed in the kitchen (62 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· New 12 x 24 tile to be installed in the laundry room (70 Sq. Ft, Color/Style to be selected up to $2.75 per SQ +$2 SQ ft. install)

· Ikea Kitchen Cabinets (lower & upper) (25 Linear Ft) ($119 Lin Ft)

He quoted us at $42,500 + 15% HST. When I ran the numbers at $40 an hour and estimated (I obviously don't know the hours needed to do the job) 240 hours of labor, it was $30k. Wondering where the missing $12K is coming from.

Hoping to get some feedback from people who understand the Atlantic Canada market!