Contractor Bid for 729 sqft Basement - Reasonable or Overpriced?

Question

CONTRACTOR BID FOR A BASEMENT - The space will be used for storage, laundry only.

Location: Denver CO

BASEMENT 729 SqftFRONT DOOR -- Remove and replace front door with customer supplied door & lockset. Price will increase if frame needs to enlarge nor decrease to accommodate new door. $995.00BASEMENT ENTRY -- Drywall and finish framed stairwell and door area entry. Customer to supply drywall. If additional framing is required price will increase to accommodate exposures of needed attachment. Paint walls and add a switch with a light.$1395.00BASEMENT WALLS --  729 SqftPatch cinder block & Brick holes using customer-supplied premixed mortar. Spray all walls white using customer-supplied paint. $2,675.00BASEMENT CEILING -- 729 SqftReattach electrical wiring and spray using customer-supplied paint.$895.00WINDOWS -- Seal all windows with OSB & caulk to seal completely. Fasten dryer vent.$465.00EPOXY 729 Sqft-- Prep and clean basement floor. Apply commercial grade sealer and epoxy per client color selection, includes non resistant surface finish. $2,325.00ELECTRICAL - Run electrical for and install four receptacles, one 220 with a direct circuit and switch at front door.$1,255.00PLUMBING- Plumb in utility sink water lines and drain line. Install customer-supplied sink and faucet. Includes Studer vent per code. $1,275.00GARBAGE & CLEANUPRemove all garbage throughout job and dispose using trailer or truck. $365.00Total $11,645.00Cash Discount -$645.00Grand Total if paying in cash $11,000.00

Note:

• I already hired a handyman to clean up the basement and get it ready for this work. 
• I hired plumbing to set up drain lines for the washer and dryer I just forgot to ask for the install of a utility sink. 
• There is existing electrical in the basement. 
• Drywall Entry  -- a small section of the front entrance

Other Bids were $1750, $3400, and $8500.

James Carlson · Answer

@Nandy B.

I'm not a GC or anything, so I'd be interested in hearing others' opinions on the price. But I wonder what your goal is with the space. Is this a rental? Or a primary residence? (I see you're from Texas but this place is in Denver, so I assumed it might be a rental.)

If it's just laundry, then just do what's needed to have laundry down there and nothing more. If this is a rental, and I'm going to spend $10,000, I'd want to get some more livable space -- a bedroom or another bathroom so that I can get a bump in rental income.

Now if this is your home and you want your laundry area to look better, then hell, go for it. But if not, I'd direct that money elsewhere.

Good luck!

Matt M. · Answer

What's the ceiling height there? It looks low. Is this person a GC and pulling permits for the work? To me, it's high. BUT I don't pay retail for work. That cash discount is a joke. I'd tell him $8,500 cash, but I still think that's too high overall.

Nandy B. · Answer

The space will be primarily used for laundry, storage. I plan on converting it into a living space in 1 yrs.

I will much rather direct the money elsewhere.

thanks