Gut Renovation
Posted: Wed Dec 11, 2013 4:40 pm
I'm getting ready to undertake a total gut renovation of my 1978 triple trailer.
It's roughly 1700 square feet. The roof is new. I have already bought the new kitchen cabinets and slab granite for the counters (not installed yet). I just had installed a brand new gas hot water heater. I bought all new bamboo floors, for the entire place (also not installed yet). I have the new washer/dryer (I'm using them now). I will do the entire gutting of the structure myself (I love demo work). It will be delivered empty for the appropriate contractors to do their particular specialty. All the above are paid for already, and my labor is free, so no costs yet.
I will need an entirely new HVAC system, windows, bathroom fixtures (medium grade), drywall (everything), electrical/plumbing updating, insulation, installation of kitchen cabinets and flooring, tile work, kitchen appliances and whatever else is required.
I live in Southern California, near Palm Springs. I own the trailer outright (no mortgage). It's roughly valued 'as is' at $100,000. I'm getting a home equity loan for the renovations.
1.) Roughly what would you feel comfortable guestimating a good loan amount to cover the renovations? I know exact amounts are impossible to know, just looking for rough ideas based upon renovations required.
I'm going to hire the sub contractors individually, as opposed to hiring a general contractor to oversee the entire process. Since I'm retired, I can be here daily overseeing the work done.
2.) Is it a bad idea to hire subs. myself or should I consider paying all the fees for having a general contractor? I'm thinking of using Angie's list to procure the subcontractors.
Any advice or opinions are more than appreciated. Thanks.
It's roughly 1700 square feet. The roof is new. I have already bought the new kitchen cabinets and slab granite for the counters (not installed yet). I just had installed a brand new gas hot water heater. I bought all new bamboo floors, for the entire place (also not installed yet). I have the new washer/dryer (I'm using them now). I will do the entire gutting of the structure myself (I love demo work). It will be delivered empty for the appropriate contractors to do their particular specialty. All the above are paid for already, and my labor is free, so no costs yet.
I will need an entirely new HVAC system, windows, bathroom fixtures (medium grade), drywall (everything), electrical/plumbing updating, insulation, installation of kitchen cabinets and flooring, tile work, kitchen appliances and whatever else is required.
I live in Southern California, near Palm Springs. I own the trailer outright (no mortgage). It's roughly valued 'as is' at $100,000. I'm getting a home equity loan for the renovations.
1.) Roughly what would you feel comfortable guestimating a good loan amount to cover the renovations? I know exact amounts are impossible to know, just looking for rough ideas based upon renovations required.
I'm going to hire the sub contractors individually, as opposed to hiring a general contractor to oversee the entire process. Since I'm retired, I can be here daily overseeing the work done.
2.) Is it a bad idea to hire subs. myself or should I consider paying all the fees for having a general contractor? I'm thinking of using Angie's list to procure the subcontractors.
Any advice or opinions are more than appreciated. Thanks.