I can either keep the $177,500 budget focused on the visible renovation or cut that scope now to create a larger reserve. Neither feels comfortable without knowing what is behind the walls of this older 2,100 sq ft small multifamily in New York.
The intended work covers kitchens, bathrooms...
The surprise was not the finish prices but how many different exclusions appeared once I compared the quotes. I am reviewing a preliminary budget of $74,420 for work to 430 sq ft in a small multifamily property in New York. The intended scope includes the kitchen and bathrooms, new flooring and...
Since it is a new-build, compare the inspection items with the purchase agreement’s punch-list and warranty provisions. Some items may already be the seller’s responsibility rather than concessions the buyer should effectively fund. The documents and exact defect categories will determine that.