How much contingency for a €175,700 Dublin multifamily renovation?

anika_equity

Property investor
Before I ask contractors for firm prices, I need to decide whether €175,700 is a workable scope or merely a starting figure with too little protection for discoveries. The project is a 190 m² small multifamily building in Dublin, with kitchens, bathrooms, finishes, electrical inspection and defined energy improvements under consideration. No extension is intended.

My concern is access to pipework, damp and defects hidden behind finished surfaces, including any structural repairs uncovered during opening-up. If targeted investigation can establish the service routes and wet-area condition, I would use a lower reserve and price the findings directly. If access remains uncertain, I would rather carry a larger contingency. What should the surveyor and bidders investigate to choose between those two approaches?
 
At this stage I’d want 15–20% available, but I wouldn’t present it to bidders as money to spend. Before tender, ask for targeted opening-up around wet areas, pipe routes and any suspicious moisture, plus clarity on the electrical scope. “Checks” could mean inspection only, not the remedial work uncovered afterward.
 
Will the building be vacant throughout, and are the units served separately or through shared meters, risers or heating equipment? Those details could change both sequencing and access. Also, “moderate energy upgrades” needs defining: specify the actual elements so contractors are not each pricing a different interpretation.
 
The occupied-versus-vacant point is important. If access is phased by unit, ask whether the price assumes one uninterrupted programme or repeated mobilisation and protection. I’d keep temporary accommodation or tenant-related costs separate from the construction contingency so they don’t consume the reserve intended for hidden fabric and services.
 
I’m not convinced a blanket 20% is automatically right just because it is multifamily. With no extension planned, proper opening-up and a tightly described scope might justify less. Build a risk list first: concealed plumbing, damp source, electrical remedials, damaged subfloors and access. Put allowances against identifiable items, then retain contingency for what genuinely cannot be inspected.
 
Sequencing can reduce surprises too. I’d programme strip-out and opening-up first, then pause for decisions before first-fix work is authorised. Do not let walls and floors get closed merely to keep the programme looking active. A documented hold point after exposure gives you a chance to reprice discoveries before they are buried again.
 
Ask every contractor for an exclusions schedule, not just an inclusions list. In particular: waste removal, protection of common areas, making good after plumbing and electrical access, testing, temporary services, moisture treatment, floor levelling and final decoration after remedial work. A cheap tender can simply have more of those sitting outside the total.
 
Lead times matter because one late kitchen component or bathroom item can hold several trades in a small building. Choose key items early, but avoid ordering fitted pieces until dimensions are verified after strip-out. On permissions, have the appropriate Dublin professionals confirm what the actual scope requires and whether any approval timing affects the start; don’t let a contractor’s casual assumption become the programme.
 
I agree with the risk-list approach, but it doesn’t remove the need for cash in reserve. I’d separate the budget into fixed work, clearly identified allowances and untouched contingency. Otherwise an allowance for likely rewiring or plumbing replacement gets called “contingency,” and there is nothing left when damp or subfloor damage appears.
 
For moisture, ask the surveyor to distinguish symptoms from likely sources. A reading beside a bathroom is not enough by itself: the useful question is whether the cause may be plumbing leakage, failed seals, ventilation, external water entry or something concealed below the floor. Then ask what further access would materially reduce uncertainty before works begin.
 
I would turn all of this into a short pre-tender action list: define the energy measures; map plumbing and electrical access; confirm occupancy and phasing; carry out agreed opening-up; list contractor assumptions and exclusions; identify long-lead selections; and confirm any approval path. Once those answers are in, revisit the €175,700 rather than applying a percentage to a budget that still contains undefined scope.
 
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