Who to ask for rough Reno estimate BEFORE buying ?

Hello property chat crew! Hoping you have some words of advice...I'm looking at buying a Californian bungalow in Melbourne's west Brunswick and adding a two storey addition at the rear ( preserving the heritage-protected facade and front rooms). In addition to the property purchase price, I have a reno budget of about $500k. My question is, who can I consult to find out if this is a realistic figure BEFORE making an offer on the house. ( BTW, the building inspection report found nothing unusual, given the age of the building). Would design/build companies provide a rough cost estimate pre-purchase? Many advertise free quotes - but that's for a property you already own, not sure same would apply for something this speculative....any tips you may have much appreciated!

 

You get what you pay for if it's free.

It may be worth having a chat with a quantity surveyor.

 

Thanks Scott no Mates, happy to pay a reasonable fee for quality advice...just looking for guidance on who to approach. Will put in a few calls to quantity surveyor in that case. Thanks again!

 

QS is good. Also have a chat to a few builders or reno companies. You can make a list of works you would like done. Provide photos of the place you want to buy. Add in some for contingency.

 

Hi Y-man, it will include some renovation, plus a two storey extension added at the rear of the property. Cheers

 

Thanks, Sackie.

 

I would start by checking if a two storey extension would be acceptable in the area - ask council. You might be restricted in the land area that can be built on etc.

In a heritage area, there may be other special requirements for design (re. visible volume/form etc) in addition to preserving the front.

Then ask a few builders for a general idea of cost. What would the extension include?

 

Check the economics carefully. Consider time frames, delays, approvals and contingencies. Even then, something will often go wrong.

Unless the property is unique, you may consider looking for an existing property that better meets your needs.

 

Thanks, Joynz, I've been in touch with the council. The second story extension at the rear is acceptable, and a couple other properties on the same block (all covered by the same heritage overlay) have the same already done. We are looking at gutting the kitchen/ bathroom and laundry plus demolishing a sunroom on the ground floor, adding a dining/living area extension at the rear, then adding a rear second-floor addition with a master bedroom/ensuite, plus a 'parents retreat' which will actually be used as a work space (could be the landing by the stairs as long as it will fit a large desk) . The block is - 460m - and has easy rear access for builders with space for a couple of vehicles to park on the property, as well as an old shed/garage made of corrugated iron and wood when they could potentially store tools etc. Thanks!

 

Thanks Marg4000. Yes, definitely would prefer the route you mention, but unfortunately there's very little stock available in this area...almost no vacant land to build new, and we're limited in terms of other potential locations, as my two kids both have disabilities and we need to stay close to the particular school they attend. But I am definitely keeping my eye out for alternatives that would avoid the need for such a big project. And like you said, trying to collect as much info as possible on how much it would cost...

 

With a $500K Reno budget on top of the purchase price, it may be worth considering buying the cheapest property you can find in your chosen area, knock down and rebuild?