Contractor Bid

[Raji Kaur]

I just bought a house in the Chicago area and the good news is that it doesn't have any structural or foundation damage and from two people who saw it, so far nothing major, but pretty much every room needs work. The kitchen and bathroom are a complete redo and interior and exterior paint and new carpet needed in two rooms. The hardwood in the living room and one bedroom are in good shape. The HVAC and furnace and water heater seem to be in good condition. There is some cleanup in the basement as far as taking a wall down and a tub/toilet that's there and is of no use. There are a few other things that need work but nothing major from what I'm told.

The house is about 1100 sqft. One contractor quote me the worst case scenario incase there is plumbing or electrical or other issues for a total of about 57K. The house hasn't closed yet so there is no electricity or heat to test these things. Their quote was based on about $51/sq ft. My concern is that based on what I'm reading here, thats at the very high end of a complete gut job. And my house is not a total gut rehab. I know he gave me the worst case scenario, but how do I budget for this then?

I'm assuming that $51/hr includes labor. Can we ask them to break down what material cost is vs labor? Maybe their labor charge is just more than others. This is my first one so I have no experience in what a rehabd costs. Does this sound reasonable or outrageous?

[Wayne Brooks]

The only way to get an accurate bid, is with a detailed scope of work to be performed, including any specific materials or an agreed material costs allowance for each item. Bids on unknowns and "worst case/best case" are useless.