Maybe the estimate will scare them off. Don’t underestimate stress as a cost factor 
Don’t underestimate TIME in your cost preparation. If it takes you a ton longer to complete this renovation for this couple…it will delay you being able to do your own project as well.
It sounds like they want a CB level redo…at a bargain price.
Please don’t get taken advantage of!!
^^ CB you can come to my house and keep your crew working on a shoe string! My plumber/handyman died all of a sudden…
I believe that they have $40,000 saved. My estimate for everything they want to do is $62,000. We are going to have to work together to figure out if they have more money available, parents can loan them money or we remove items from the scope of work.
It will be an interesting project. It will be interesting to go through trying to do a remodel on the tightest budget possible.
Here’s the Scope of Work right now:
Repair wood rot and termite damage on exterior fascia / siding
Repaint exterior
Replace front windows
Remove carport cover
Remove porch entry
Remove a small kitchen addition that prior owner put in that is rotten and leaking
Rebuild kitchen addition
Remove walls, open up kitchen to front living room and back family room
Remove sliding glass door and replace with french doors
Remove popcorn texture and retexture walls and ceilings
Refinish original hardwood floors and add new hardwood in kitchen and family room
Remodel existing hall bathroom
Brand new kitchen, moving plumbing and electrical
Redo fireplace
Build new porch entry and try to give house curb appeal (it is horrible right now… concrete everywhere)
Repaint interior and add nice baseboards and trim
New light fixtures
Wow–doing all of that would cost double or triple in HI–even more at your quality.
And you KNOW you should add about 20% or more onto your estimate…because once you start…you just don’t know what you will find!
Does your estimate include all of the labor costs? And your charges too?
Around here…a brand new kitchen can easily cost $50,000.
Did you include costs for all of the permits??
More on how Zillow works…
For Sale Listings (and I think For Rent) have to be entered manually into Zillow. However, Pacific Sotheby’s has a special software and they have an account with Zillow. My agent does not pay a fee to put a listing into Zillow because Pacific Sotheby’s feeds from a special system into Zillow. Pacific Sotheby’s probably pays a large fee to Zillow for the access.
When my agent manually creates the listing in the local MLS software, her company requires a sheet be filled out that is entered into the Pacific Sotheby’s system. That is because Pacific Sotheby’s wants a certain format for the listings on their website. This separate system feeds into Zillow.
She does have to pay a $50 fee for Zillow to come out and do the video, but she got this one for free because they were having a first time promotion.
Wow, that’s not just a little updating, is it! Sounds like it will end up being a ton of stress and probably lots of arguments about cost and details. Very different from just arguing with yourself (and your carpenter and agent). You should have a strong contract in place before starting. Is this project anywhere near home?
DH can come up with some tiny projects to give your carpenter something to do! I swear he’s making a list and, to be honest, I’d rather he not be the one doing them :)) .
Can’t imagine that for under $100k. Sounds like the bones of the place need work, so who knows what you’ll find when you tear out stuff.
“You should have a strong contract in place before starting.”
A contract would not be enforceable because CB’s not a licensed contractor. She could do perfect work within budget, but would have no recourse if they didn’t pay her. She would legally have no right to payment. It is a very risky thing to do. CB knows this (it has been discussed before on these boards). There’s simply no such thing as a “strong contract” in these circumstances.
I know that this project will be the death of me. However, they do have a level of trust that a) I know what I am doing and the crew knows what they are doing and b) my design decisions match their taste. She wants a coastal cottage theme (which of course doesn’t go with the cracker box stucco house but what the heck, we will just make the interior cute).
I am not even charging my usual Project Manager fee because it just doesn’t fit into the budget. I am doing this as a favor because their parents are one of my investors and I am hoping that I can guilt them into bigger investment loans for my next project.
@coralbrook - do you know how often Zillow updates their home values? Ours seems to have increased a good bit recently but only on Zillow… Do you feel it is a good representation?
You guys crack me up giving advice to cb.
I remember after a previous project (a townhouse I think) where she had to work with the owner, cb pretty much swore she would never do that again. So it goes…
With the profit from this house I would think she could afford some downtime, but hey it’s her time.
It’s not too late to say “no”. That’s my unneeded advice.
The biggest issue is we have never tried to do this in a house that people are living in. We are not good at it, we make huge messes and cannot be bothered with trying to stay clean and quiet. It’s just not how to get it done quickly and efficiently.
@artloversplus … I would be dead in the water if my carpenter/plumber dropped dead or quit. I always tell him that I would not be in business without him, he is a critical partner to me. I have even offered many times to give him a profit sharing arrangement but he is risk adverse and cannot imagine how he could survive on the lower weekly pay holding out for a big carrot at the end of the project. He always says ‘Next Project’.
CB…you also work nights, weekends, etc. that’s all fine when there are not occupants. And it’s what helps you adhere to a timeline!
But then…if it’s one of your investors…that puts you in an “awkward” position.
I personally never do work for friends…or relatives.
This is the daughter of the couple I did the townhome (with the gorgeous shower). Did I say I would never do it again??? Geez, I have selective memory 
I don’t know how to get my regular project management fee into the tight budget.
I make the people sign a document stating clearly that I am not a contractor and I am only providing project management. No warranties, etc. I will make them pay cash directly to the workers and the subcontractors so I am not waiting for any monies. For large purchases I will have them pay directly. I would potentially only be out the daily runs to Home Depot with receipts that I usually collect at the end of each week.
I think I said ‘never’ again when I helped one of my agent’s clients get their townhouse done before they could move in. Her taste was very different than mine. But, it was a vacant house and we had a fun project. She trusted me implicitly and I was able to get things done in a timely manner.
The issue with the townhome in Pacific Beach was that the homeowners had a Military Discount and they wanted to go with me to purchase every nut and screw. That is not going to happen again. My carpenter and I are not going to go shopping at home improvement stores with homeowners for plumbing parts or whatever. I can walk straight in, go straight to the aisle, go straight to exact location, pull 5 of whatever and walk straight to my favorite cashier. Done in 7 minutes
cb, it will be fine. Just be sure you know where to draw the line.
It will give you some time to regroup and take a deep breath while you scout for the next project.
How long do you have to consider the offer you received?
Wait, if you aren’t getting a project management fee, does that mean you are intending to do the project for free? That’s crazy talk!