Home Buying in 75214>Question Details

Mom2dl, Home Buyer in Kessler Park and Ste...

what's the average cost of a full house remodel with possible addition?

Asked by Mom2dl, Kessler Park and Stevens Park, Dallas, TX Sun Jul 18, 2010

contemplating buying a 1950s 1-story home with 3 br and 3 baths. Needs all bathrooms and kitchen remodeled. Needs hardwood installation, paint work and possibly additional 400-500 sq ft addition for br/bathroom (2nd floor). estimated area is 2500 sq ft. we're not sure if buying old would be better than the very expensive remodeled house.

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11
This post is a little late, but this might give you a decent idea of what your costs might be:

http://www.remodeling.hw.net/2009/costvsvalue/division/west-…

It's an independent survey that's put out yearly by Remodeling magazine.

Eric Holmes | REALTOR
Eric@TeamHolmes.com | http://www.TeamHolmes.com
2 votes Thank Flag Link Thu Jul 29, 2010
This all depends on the size of the areas you are wanting to remodel. What items you decide to include in the remodel may also play a role in cost. I've heard that you can sometimes save money though by remodeling in the off season when contractors are less busy. I don't know if that is true, but it is worth looking into. http://cbuildllc.com/kitchen-remodel-needham-ma/
0 votes Thank Flag Link Wed Jan 28, 2015
I think that with all this remodeling being done, it will definitely end up being very expensive. I think that if this home is the one that you definitely want, it would be a good investment. However, if you are still unsure, it might be best to buy a different home. I think that to remodel a home would be a great choice, because then you could make it look how you want and it would look just about brand new! http://www.albornconstruction.com/exterior-home
0 votes Thank Flag Link Tue Jan 27, 2015
Your budget figure should be around $150,000.00 to re do this old house. It will be hard to stay with in that, if you use a professional remodeling company.
0 votes Thank Flag Link Tue May 6, 2014
I would highly recommend that before you buy the home, you get a general contractor and get an estimate, make sure they check with the city what permits are needed and then with a designer. My husband is a general contractor, I am a Realtor and we bought a home to restore and you just never know what you are going to find, when you start working on it, our $50,000 has turned to over $100,000.

Let me know if I can assist you in the search of a lifetime.
0 votes Thank Flag Link Tue Jul 27, 2010
No one can render an opinion much more than throwing out a figure .

Entire property would need be previewed with design work, and determine what the city would approve, quality of material used, sq. ft. of home, lay out of current property, and etc.

You need request contractors on property obtain their bids.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sun Jul 18, 2010
Hi mom2dl -

I am a professional interior designer as well as a Realtor.

I should tell you that if you buy the home through Novanlord Realty, we will do the design and renovation plans of your home for FREE!

Either way, there are many factors involved in the costs of a remodel.

If you would like a free consultation with me email me at donovan@dldinteriors.com.

If you would be interested in buying the home through us and free interior architecture and design advice, please email me at donovan@novanlord.com.

Hope to hear from you!

Donovan Lord
Novanlord Reatly
214.764.4309 x 1001
donovan@novanlord.com
0 votes Thank Flag Link Sun Jul 18, 2010
Well, I see the zip code as 75214 so I'm assuming a 1950's in the Lakewood area...my neck of the woods!Figure an add on at about $100/ square foot. A "gut job" redo on a home of that age can cost $100,000, especially if you are installing not refinishing hardwoods. Check the old cast iron plumbing out to the city, it might need replacing. If you have an old FP panel you would consider re-wire, at the least upgrading to 200 AMP. Kitchen at about $30,000 with top o the line appliances and granite, new cabs etc. Master bath about $10,000 other baths about $5,000 each. Now, I have not the house but I have remodeled many and work a lot with investors who do the same thing for flipping. Next issue is, do you have experience doing this? If not, my advise is hire a contractor who knows the older homes in that area. For re-sale the remodel needs to be inline with the neighborhood.

Best of luck! Call if I can give you any contractor referrals!
Helen Karuba
Virginia Cook Realtors
0 votes Thank Flag Link Sun Jul 18, 2010
I would doubt the FHA 203(k) loan would work for you in 75214. The loan limit for the 203(k) renovation program is 271k in Dallas county. I will not hazard a guess on the cost of the renovation because there just are to many variables to consider. But, I do have a "one time close" like program that will finance the renovation expense and the permanent 30/15 yr fixed financing up to 900k. If you pursue this property, I would to answer any questions you may have about the financing.


Jay@moneysafe.com
Web Reference: http://www.moneysafe.com
0 votes Thank Flag Link Sun Jul 18, 2010
My wife and I are moving to Dallas in the next month and though we are renting for a while so we can get to know which areas we want to buy in. When we do buy, we want to buy an older home (not a cookie cutter in a master plan community) and we would like to gut the whole house. We too were looking into the 203(k) FHA loan but like you said, the limits are a bit to low. We want to buy in the mid $100's to low $200's and put in about $100k for new kitchen, baths, flooring, drywall and molding.

I would love to know about this "one time close" program you mentioned.
Flag Sun Jun 3, 2012
That almost sounds like $50,000 project.
This is totatally a pure guess.
It depends on finish outs and if new plumbing and electrical is needed.
If structural additionals are needed it might be even more.
If you get serious I'd suggest you get a contractor to look at it and give you
a bid during your option period.
The other thing to consider is do you want a construction project happenning while you are living there
or if not where you will live during the meantime.
You might also want to check with your loan officer to see if they do 203k loans and to see if you qualify for one unless you plan to pay cash for the remodel.
That may make the difference between if you want to tackle this or not.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Sun Jul 18, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I would say you are looking at at least 100k. I have a very good contractor I use that im sure could get you a better quote his name is Ray Russo.

214-505-1534

RJ
0 votes Thank Flag Link Sun Jul 18, 2010
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