when to involve a contractor for renovations on a purchase?

Asked by Farheen, Sat Apr 20, 2013

We are interested in doing some renovations in a property soon after purchasing.. should I get a contractor involved prior to going into contract or wait until the inspections process?

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Anna M Brocco, Agent, Williston Park, NY
Sun Apr 21, 2013
What is your agent advising; much really depends on the condition of the property and the extent of necessary renovations; however to get an idea of costs it may be in your best interest to involve a contractor before contract.
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Jeff Stone, Agent, Port Washington, NY
Sat Apr 20, 2013
Hi Farheen,

Bring your contractor prior to making your offer. A buyer saw one of my listings today + brought his contractor with him to get an idea of how much money would be needed to renovate the house. The amount of money needed to renovate the house must be in line with how much you want to offer on the house. You don't want to spend all your money on the purchase without having the money necessary to renovate + update the property. An experienced Realtor can help guide you to make an informed decision. An inspector will also check on other areas such as the structural soundness of the house, the electrical, plumbing + any environmental issues, to give you a better understanding on the potential value on the property of interest.
If you need help, contact me anytime.

Web Reference:  http://www.laffey.com/jstone
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Thomas Moser, Agent, East Northport, NY
Sat Apr 20, 2013
I think it depends upon the current condition of the home and the scope of the renovations you are planning on. If you are planning major renovations then, by all means, bring him in beforehand. If it is something pretty straightforward, then it's probably not necessary. But, in any case, make sure that you have a good mechanical inspection done so that you know that the home is sound and there are no major issues.

Tom Moser
Licensed Associate Broker
Keystone Realty USA

0 votes
Christina Ha…, Mortgage Broker Or Lender, Morristown, TN
Sat Apr 20, 2013
You can get a contractor to come in before you purchase to be sure your idea of costs are close to what a contractor will charge. Contractors will undoubtedly, go in and give a free estimate on a home you are considering to purchase.

Have a good evening;

Christina Solorzano;
CEO & SR Credit Repair Specialist
Everlasting Credit Repair
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