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Old 10-06-2016, 10:01 AM
 
145 posts, read 159,449 times
Reputation: 190

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Hi All

That is my question.

My wife and I have found a home in a location that meets all of our needs in terms of schools, commute, and walkability. The only problem is that the kitchen is small and in the middle of the back of the house making it impossible to keep an eye on our toddler playing and do something in the kitchen. The home is not a total fixer upper and is not priced as such (although it has been on the market for a while).

We are thinking that if we could move the kitchen to one side of the back of the house we would have the open concept kitchen living room that we are looking for. However, we are first time home buyers and have never been through a renovation.

We brought a contractor with us to look at the house and explained what we were thinking of doing to get his insight on whether there were any show-stoppers that would make the job inordinately expensive or whether the job was too big to make it worth doing based on the price of the house and the expected renovation cost. On the day of the walkthrough there were no obvious show stoppers and we are waiting to hear back from him on estimates and other feedback.

Having never been through a job like this before I was curious to know what the overall process is and what advice others might have. The immediate 3 questions in my mind are:


Is there a better way to determine if this is a home we can purchase (we basically looked at our overall home purchase budget of $375,000 and are thinking that if the home price is $280,000 and we have renno bid / budget of about $60K we are ok)?

We pretty much know what our budget and contingency amount is - how do you know if its realistic?

When / how do you hire and contract people (architect, engineer, designer, General contractor, trades, etc)?

Any input and advice is greatly appreciated.

Sincerely,

A Couple Who Has Watched Way Too Much HGTV & Property Brothers
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Old 10-06-2016, 10:29 AM
 
757 posts, read 2,077,574 times
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You need AJ Shirley from Anthco.com - General contractor in the Raleigh, North Carolina area. He used to build houses and now mainly does renos. He has an engineer on staff and all the folks that would be needed. He gets all the permits himself. He's very responsive and informative. He had our screened porch built in 8 days. He basically has a crew under him and coordinates all those folks, but he could give you the above info.
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Old 10-06-2016, 10:46 AM
 
2,819 posts, read 2,570,202 times
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It can be done, not sure about exact costs but it sounds fairly reasonable to me. We moved plumbing around and gutted a bathroom with removing walls and such for 18. Is the house where you want to be? Do you think you can love it after the work is done? Does it have enough space otherwise?

Having bought a fixer upper previously and then sold and moved after having a child I would also highly recommend making sure there is a play room. It was quite literally the reason we sold our fixer upper after doing all the work. As a toddler it wasn't a huge deal but at school age it's a godsend.
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Old 10-06-2016, 10:48 AM
 
Location: Clayton, NC
514 posts, read 600,479 times
Reputation: 269
Just be careful with the numbers. The figure you were given is an ESTIMATE, nothing more. It is not uncommon for things to be found once work gets completed, or change orders to be filed as things progress. Also, make sure you would not be pricing yourself out of the neighborhood (unless you plan to stay so long that you just don't care).
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Old 10-06-2016, 10:58 AM
 
Location: Apex NC, the Peak of Good Loving.
1,699 posts, read 2,575,628 times
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The contractor is unlikely to say NO because he wants to get the job.

Please find a house appraiser and pay him for his time and expertise. He/she will evaluate the worth of the house as it stands and estimate the worth after your proposed renovation. When you know these two numbers, and also the cost of the renovation, you can make an informed decision.

Caveat: I am a homeowner but not a real estate professional. The worth of a house is primarily determined by lot size, house size, location, location, and location. The kitchen renovation changes none of these factors.

In my opinion this renovation might cost $60K and increase the market value of the house by $20K. That's a poor Return On Investment.

.
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Old 10-06-2016, 11:09 AM
 
9,265 posts, read 8,220,081 times
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Just keep it as is - someday it'll be in style again and you'll be leading the pack!
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Old 10-06-2016, 11:32 AM
 
555 posts, read 497,421 times
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I guess I have to ask how the human race survived before the open concept kitchen came along. I mean, I get the desirability of it - I have two toddlers myself, with a very limited line of sight from kitchen to the living area - but I sometimes wonder if it isn't over hyped. If you've found a house that gives you most or all of your other needs and, in this market, is actually under your budget, you might want to think about how valuable the open concept really is for you. One of my solutions to this issue is to set my kids up with coloring books or playdoh in the eating area just off of our kitchen while I cook, so I can keep them in one place without having them right next to the stove or oven. There are ways to make these things work without looking at a total reno. Just my opinion.
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Old 10-06-2016, 11:35 AM
 
Location: under the beautiful Carolina blue
22,645 posts, read 36,609,195 times
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Do you really love this house and the location? A renovation can be fun and exciting, but also demoralizing and wearing on the patience. Be prepared for "we thought we could do this but now we have to do that". Expect cost overruns.

If you brought a contractor with you I am assuming you know him or are familiar with his work. If not you are making a huge mistake just going with one person who would make that trip with you.

As an aside, I hope that this renovation is for more reasons that your toddler. As noted above, there are better solutions to this issue. Just make sure this is not your SOLE reason for doing this renovation. Using a dining room as a temporary playroom is a solution I've known many people to employ - sometimes it's easier to make the current house work for you in imaginative ways.
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Old 10-06-2016, 11:51 AM
 
307 posts, read 375,681 times
Reputation: 240
Quote:
Originally Posted by BlessedLife View Post
I guess I have to ask how the human race survived before the open concept kitchen came along. I mean, I get the desirability of it - I have two toddlers myself, with a very limited line of sight from kitchen to the living area - but I sometimes wonder if it isn't over hyped. If you've found a house that gives you most or all of your other needs and, in this market, is actually under your budget, you might want to think about how valuable the open concept really is for you. One of my solutions to this issue is to set my kids up with coloring books or playdoh in the eating area just off of our kitchen while I cook, so I can keep them in one place without having them right next to the stove or oven. There are ways to make these things work without looking at a total reno. Just my opinion.
Or just get a wifi camera and pull it up on a phone or tablet while you are in the kitchen. Definitely ways to work around not having an open floor plan.

To OP, keep in mind for you budget that you can't get a mortgage that is way higher than the house is appraised so you will need cash for the down payment and cash to cover the renovation (or take out another loan to cover the renovation)
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Old 10-06-2016, 12:31 PM
 
Location: Raleigh, NC
12,475 posts, read 32,171,837 times
Reputation: 9450
Look at the price of the home.

Look at the estimate for your reno and add another $10,000 to that.

Total price. Have your agent look at the comps in n'hood. Are you inline if you had to sell?

Are you overpriced for the n'hood?

Don't believe HGTV shows that show the owners adding $50,000 in reno and the value of the home goes up $100,000. It doesn't work that way!
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