Renovation budget for a 700 sq ft duplex in Los Angeles

LucaWells

Homeowner
I can either accept the $260,500 working budget and carry a large contingency, or spend more before contract on investigations and tighter quotes. Neither feels comfortable for a 700 sq ft Los Angeles duplex: the first leaves too much unpriced, while the second may still miss what is behind the walls.

The planned work includes the kitchen, bathrooms, floors, painting, electrical review and moderate energy improvements, without an extension. The quotes diverge most on electrical work, plumbing access, moisture damage, permits and structural discoveries. Lead times may also determine when rooms can be opened and closed.

Would you first commission targeted electrical, plumbing and moisture inspections, then ask every contractor to reprice against one scope and exclusions schedule? I am trying to separate genuine unknowns from work that has simply been left out, and to set the contingency only after that comparison.
 
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