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Old 09-26-2014, 08:39 AM
 
Location: Coastal L.A.
514 posts, read 612,437 times
Reputation: 342

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Hi all, my sister and her family have sold their 1,400sq ft townhome in Santa Monica and have recently gone under contract for a single family home in Palos Verdes Estates. They have two small kids (2.5yrs and 1 yr old). Her husband works in Marina del Rey, he has a flexible schedule so commuting isn't a major concern.

The house was built in the late 60's, it's 2,020sq ft and has a nice lot. It has tremendous bones and potential. The interior needs to be completely remodeled, floors, paint, kitchen, bathrooms, doors, baseboards, etc. It does have a brand new roof that was installed this year, new windows and new sliding doors to the patio.
They love the house, the backyard for the kids and the area (great schools, safe, blah blah). They are concerned about the cost it will take to bring the house up to date with all the renovations. Their budget is 100K for everything. They aren't looking for the fanciest of everything or the most expensive materials, but a nice, decent renovation with quality materials and quality work.

They are willing to paint themselves, (they've done it before and they did a really good job, no crappy lines lol), in order to save money and use it towards something else for the house. The 100K will be used to bring the house up to date and to modern standards. They are concerned that it will not be enough and that after all the remodeling the house will still look old. They will be putting more money into it as time goes by, but they don't want it to be a money pit.

Can it be done? Good idea?
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Old 09-26-2014, 08:56 AM
 
Location: Southern California
4,350 posts, read 4,929,984 times
Reputation: 2129
40k for the kitchen 10k per bath, 10k floors, 5k paint, 5k electrical. Holding cost , living somewhere else, 12k. I left off landscaping. There is a huge range in material, $50 shower rod curtain versus frameless tempered glass shower enclosures. White ceramic tile versus natural stone. $200 bath fixture versus $700 shower handles.
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Old 09-26-2014, 10:40 AM
 
3 posts, read 2,562 times
Reputation: 10
the peninsula isn't samo, being "up to date" isn't a priority to most people.
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Old 09-26-2014, 10:43 AM
 
822 posts, read 920,082 times
Reputation: 626
Quote:
Originally Posted by Panamajack78 View Post
Hi all, my sister and her family have sold their 1,400sq ft townhome in Santa Monica and have recently gone under contract for a single family home in Palos Verdes Estates. They have two small kids (2.5yrs and 1 yr old). Her husband works in Marina del Rey, he has a flexible schedule so commuting isn't a major concern.

The house was built in the late 60's, it's 2,020sq ft and has a nice lot. It has tremendous bones and potential. The interior needs to be completely remodeled, floors, paint, kitchen, bathrooms, doors, baseboards, etc. It does have a brand new roof that was installed this year, new windows and new sliding doors to the patio.
They love the house, the backyard for the kids and the area (great schools, safe, blah blah). They are concerned about the cost it will take to bring the house up to date with all the renovations. Their budget is 100K for everything. They aren't looking for the fanciest of everything or the most expensive materials, but a nice, decent renovation with quality materials and quality work.

They are willing to paint themselves, (they've done it before and they did a really good job, no crappy lines lol), in order to save money and use it towards something else for the house. The 100K will be used to bring the house up to date and to modern standards. They are concerned that it will not be enough and that after all the remodeling the house will still look old. They will be putting more money into it as time goes by, but they don't want it to be a money pit.

Can it be done? Good idea?
Licensed or unlicensed labor? Their are pros and cons and risks to both.

If you show us some pictures with measurements it would be easier to analyze rather than just throwing out numbers.
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Old 09-26-2014, 10:58 AM
 
Location: Coastal L.A.
514 posts, read 612,437 times
Reputation: 342
Quote:
Originally Posted by Hunnie Badger View Post
the peninsula isn't samo, being "up to date" isn't a priority to most people.
Mmmm, I don't think so.
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Old 09-26-2014, 11:00 AM
 
Location: Coastal L.A.
514 posts, read 612,437 times
Reputation: 342
Quote:
Originally Posted by BeatAngMoh View Post
Licensed or unlicensed labor? Their are pros and cons and risks to both.

If you show us some pictures with measurements it would be easier to analyze rather than just throwing out numbers.
Licensed labor.
Ok will do pics and dimensions. Thank you.
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Old 09-26-2014, 12:55 PM
 
822 posts, read 920,082 times
Reputation: 626
BTW I'm not a contractor but have remodeled and remodeled rentals as well where price was a major factor. You can get a wide range of prices and at the end of the day its subjective based on who you talk to, the methods they intend to use, and who they subcontract to, including illegal or inexperienced people. The worst thing to do is to buy a package. Would suggest you choosing the main materials and bringing them on site for the contractor to save money. The best thing to do is to study the techniques on how to do something before you talk to anyone. If you don't know what you are talking about its hard to evaluate someone.
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Old 09-26-2014, 01:15 PM
 
4,184 posts, read 11,567,918 times
Reputation: 4114
a lot can be done for 100K if the project is managed correctly....

there may be something deeper here, though....

do all the fixtures and appliances work now anyway?....are they wanting to update just because they think they're supposed to?....or are they worrying what the Joneses will say when they come and visit?....

sorry to get all cynical, but this rush to get the latest-and-greatest stainless steel/granite/travertine/crown moulding/what-have-you sometimes seems selfish and short-sighted.....just something to think about.....

when remodeling, many feel new paint, updated bathrooms, and new kitchens provide the best return on investment....keep it simple, timeless, and tasteful.....trends come and go.....mottled granite countertops are rapidly going out of style (has already probably)....they may want to consider gray or taupe kitchen appliances instead of the ubiquitous stainless.....

they do need to set up a budget, get estimates, decide priorities.....wide range of choices.....
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Old 09-26-2014, 04:43 PM
 
3 posts, read 2,562 times
Reputation: 10
Quote:
Originally Posted by Panamajack78 View Post
Mmmm, I don't think so.
the majority of homes on the peninsula are "dated" in comparison to the westside, it's really par for the course and what makes the area charming. understated elegance, originality, etc. is the name of the game.

contrast that to say, beverly hills or manhattan beach, two cities which have been completely destroyed.

anyway, $100k can go relatively far if the updates are done in a tasteful/conservative manner, the danger is trying to replicate new construction on the westside in a modest 1960s tract home.

for example, my sister sold her home to some clown from the marina at the peak of the market, back in 2006. this guy had more money (and cocaine) than elegance/class/common sense. he did a substantial amount of renovations over a short span, ruining an otherwise lovely home. he ended up selling a couple years later in 2010 at a pretty decent loss, between the "improvements" and haircut, at least $600k, maybe $700k went up in smoke.

he ultimately "upgraded" to one of those awful trump homes.

i wouldn't be surprised if he's back in your neck of the woods, coked up out of his mind, salviating over the latest gaudy hublot and masturbating to 2016 amg merc concept cars. i'm sure he's back in like minded company and quite content.
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Old 09-26-2014, 06:11 PM
 
Location: Coastal L.A.
514 posts, read 612,437 times
Reputation: 342
Quote:
Originally Posted by Hunnie Badger View Post
the majority of homes on the peninsula are "dated" in comparison to the westside, it's really par for the course and what makes the area charming. understated elegance, originality, etc. is the name of the game.

contrast that to say, beverly hills or manhattan beach, two cities which have been completely destroyed.

anyway, $100k can go relatively far if the updates are done in a tasteful/conservative manner, the danger is trying to replicate new construction on the westside in a modest 1960s tract home.

for example, my sister sold her home to some clown from the marina at the peak of the market, back in 2006. this guy had more money (and cocaine) than elegance/class/common sense. he did a substantial amount of renovations over a short span, ruining an otherwise lovely home. he ended up selling a couple years later in 2010 at a pretty decent loss, between the "improvements" and haircut, at least $600k, maybe $700k went up in smoke.

he ultimately "upgraded" to one of those awful trump homes.

i wouldn't be surprised if he's back in your neck of the woods, coked up out of his mind, salviating over the latest gaudy hublot and masturbating to 2016 amg merc concept cars. i'm sure he's back in like minded company and quite content.
You're mistaken. I live in the westside and most homes are dated. Palos Verdes Estates and the Westside are actually very similar in style. Also, this is not a 1960s tract home. It's a custom home. I do agree that 100K can go very far if it's managed properly.
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