07-29-2015, 01:58 PM
Call Me a Cab
We bought the bells (well said, ''the fun stuff") to de-stress from all the surprises that have come up during early demolition. We went into this project (our first ever) with a budget that was well-above what everyone said we'd need (or saying this another way, we bought a smaller / more modest apartment than we were told we could afford and doubled (yes, doubled) the renovation budget from what we were told it would cost so that we wouldn't be stretched when the inevitable surprises and cost overruns happened).
Originally Posted by dh66
Thank God we did. By not extending ourselves on the original purchase price and by having a renovation budget double what several architects and contractors told us it would cost, we are not in bad shape. Had we taken the advice of others and bought a bigger / more elaborate apartment and only budgeted what professionals in the trade said we'd need to renovate, we would not be in a good place.
After fifty years of life, even though I have never bought or renovated an apartment, I have learned that one needs to dramatically adjust up the price guidance of what things will cost versus what those in the field tell you it will when they want to get your business. Also, we told ourselves that there would be several unexpected challenges, so, so far, nothing is really causing us undo stress. That said, it still isn't fun when problems come up, but that is what the bell or other "fun stuff" purchases are for.
Thank you for your kind words and guidance.