Quote for major works to house

honeypisquared

Hi all,

We are thinking of buying a house that needs serious works to make it suitable for us and asked a builder to come and look at it with us. The works are: large extension to second and first floor and reconfiguration (from two beds to four plus en-suite). The total extension would be about as much again on the second floor but another room only on the first floor, as the property is much larger on the bottom than the top at present. The present floor space is 37 square metres on the second floor and 107 on the ground floor. The total extension would be something like 100-120 square metres across both in total. We also need a rewire, new boiler, complete renovation throughout. We have done similar, if slightly less ambitious, work before and have four of us to get involved and help.
The builder has quoted us £140K.
Does this seem fair, and do I need to provide any more information?

brightontraveller

honeypisquared wrote: »

Hi all,

We are thinking of buying a house that needs serious works to make it suitable for us and asked a builder to come and look at it with us. The works are: large extension to second and first floor and reconfiguration (from two beds to four plus en-suite). The total extension would be about as much again on the second floor but another room only on the first floor, as the property is much larger on the bottom than the top at present. The present floor space is 37 square metres on the second floor and 107 on the ground floor. The total extension would be something like 100-120 square metres across both in total. We also need a rewire, new boiler, complete renovation throughout. We have done similar, if slightly less ambitious, work before and have four of us to get involved and help.
The builder has quoted us £140K.
Does this seem fair, and do I need to provide any more information?

Buy something that’s nearer to your requirements to start with is best bet ?
There’s an abundance of missing info too varied to mention all I would say is try your best to get a

1.Firm fixed price contract maybe with economic price adjustment if you think market conditions will go in your favor e.g. labour and materials will go down over next 12mths/ between start and finish dates etc check
2.Scrutinize Contract clauses….

3.Way up if an incentive contract would work for you e.g they finish in x instead of xx saving you monies on accommodation , mortgage payments etc
4. Check cost of works against buying more suitable in area and prices of comparable that meet end requirements
Some would say above is getting into Fixed Price vs. Time-Material Cost but on a home that clearly doesn't meet your requirements at present anything else is risky

Dan-Dan

brightontraveller wrote: »

Buy something that’s nearer to your requirements to start with is best bet ?

This is the best bit of advice you will ever receive

The fact you are asking the questions you do op mean you will be well out of your depth on such a massive project

glasgowdan

I agree...add that 140k to your rightmove search...

martinsurrey

Dan-Dan wrote: »

This is the best bit of advice you will ever receive

The fact you are asking the questions you do op mean you will be well out of your depth on such a massive project

glasgowdan wrote: »

I agree...add that 140k to your rightmove search...

a friend of mine recently moved into a house he finished building.

he bought a house for £890k, spend £600k knocking it down and rebuilding (took 9 months), and it is valued at around £1.9-2.0m, if he'd looked for a £1.5m house, he wouldn't have got anywhere near what he built.

not saying its for everyone, but OP, get professional advice, on such a big project a few £000 on advice will be money well spent.