My husband and I are in the process of buying a house. It is a lovely house but was built in 1918 and has some necessary repairs that must be done once we purchase it so we are getting estimates from contractors to determine how much we will need to pay the contractors (and adjust our offer on the house accordingly.) We just got back the first estimate and it looks wildly overinflated to me, but I’m not a professional contractor so I might just be underestimating the actual costs for these things.
This estimate says, among other things, it will cost $375 to repair a single loose board at the top of our stairs. It also says that it would cost $1800 to replace the back door and $11,000 to redo the driveway, which would involve repitching it to make sure water runs away from our foundation instead of towards it.
While I’m no contractor I’ve certainly installed a door before. I can’t imagine paying almost $2,000 to install a freaking door! Is that a reasonable price? When tossing around numbers before we spoke with the contractor a friend of ours said they had their driveway redone for about $5,000 and though I expected to pay a bit more than that because it needs to be angled away from the house I didn’t expect to get a number that is more than double that!
We’ve got 2 more contractors coming out tomorrow to look at the property and give us an estimate but now I’m terrified that they are going to give us similar numbers and we are going to have to walk away from this house. All told the first estimate came to $42,000 and he forgot to include a necessary bit of masonry work so I figure it is going to be at least $50,000 based on his numbers.
How accurate are these figures? I’m afraid…this doesn’t even include the hideously ugly bathroom that will need to be redone! :eek: