If you are in the market for a NYC apartment renovation, you probably have done some research into what you think an apartment remodel might cost. You have likely looked at costs per square foot, done some research into what some materials or furniture cost, and looked at what the cost of labor is. So just when you think you have a good handle on what a renovation would cost, you get an estimate and find that it is substantially higher. So, what did you miss?
It turns out there are lot of hidden and underestimated costs in a project that tend to get overlooked when a NYC apartment owner is trying to put together costs for their renovation project. These are things that commonly get ignored but are major costs in any project. So here are some common hidden costs involved in an apartment renovation in New York City.
Design Costs
Even if a homeowner has a design concept in mind, major apartment renovation projects generally need to have design plans put together, and this can add to a budget substantially. Generally, five to ten percent of a project should factor in the design costs. If you hire a design build firm, you can likely get the lower end of this range, but keep in mind design costs include modeling, drawing, as well as the permitting and design approval through the NYC building department. So, keep this in mind when you are estimating your project budget.
Costs per Square Foot
A first cut at estimating costs for a project are considering the amount of square feet you are intending to renovate and running the numbers on an average price per square foot. A general role of thumb is around $350 per square foot for a New York City apartment remodel, but in order to get a more accurate number, you have to really break these costs down further by the type of space you are renovating and what you expect to do in these spaces.
A general rule of thumb is to divide your apartment into what is called dry space and wet space. Dry spaces are places like bedrooms, living rooms, or any other room that does not have any plumbing fixtures, meant for interior renovation. Wet spaces in this case usually refer to a bathroom remodel or a kitchen renovation. Dry Spaces can be estimated in this case as low as $30 to $50 per square foot, while wet spaces are what really should be calculated at $300 to $400 per square foot. More importantly, in any room where you change the layout, such as windows, cabinets, or appliance locations in a kitchen renovation, this is when you should add another $300 per square foot to any costs associated with a specific room.
Layout Changes
To dive further into layout changes, as mentioned if you add $300 per square foot, you are at very least doubling the cost of a project, but maybe even tenfold if you are changing the layout of a dry room. It’s important to note that investing in layout changes rarely improves the value of a house unless there was already an issue with function.
The main reason these costs skyrocket, is that moving fixtures involves some level of work with Sheetrock replacement and electrical, as well as plumbing for any wet spaces. This additional level of work generally requires more permits and approvals which drag out the project timeline. Of bigger concern in older structures, is when contractors open walls and find infrastructure that is non-compliant, they are required to address compliance issues if they choose to touch any of the infrastructure. This can include updating old pipes building wide, redoing faulty electrical work, or improving structural capacity of any members that are deficient. These costs can easily make a project budget get out of control.
Change Orders
After a project goes to construction, any interruption to the original construction plan that requires a redesign, can introduce what is called a design initiated change order (DICO). This is common when you hire a design build firm for a large project, as its important to reflect any changes made to the architecture of an apartment in a final design plan called as-builts.
When a contractor comes across an issue or an obstacle that prevents the project from being built as designed, they must halt work to make sure they can provide a suitable alternative to the work and be able to reflect that. In some cases, these DICO’s can create a substantial increase in labor costs or modify the materials needed to complete the task. It is important to have a set aside budget for these circumstances.
Materials
Finally, when you go off an original cost per square foot estimate or an original design estimate from a design build, it can sometimes be misunderstood how dramatically the cost can increase from specific materials chosen. When a contractor prices out a job, they usually can only price out their labor, and often put in a contract that the price quoted is labor plus materials.
A contractor may quote you on knowledge of hours and factor a percentage into materials. However, if you decide to get high end materials, this price that was quoted goes up substantially. This is common in pricing of unit based material, like tiles which is initially estimated based on a price per square foot but can be substantially different if you are buying marble vs standard ceramic for a bathroom remodel. Also, if you are doing an interior renovation, things like painting can go up if you want a patterned wall or a higher quality paint material. Also consider in any carpentry project, heavier woods like maple and oak are substantially more expensive than poplar or pine.
Conclusion
While cost estimating is a science and never meant to be dead accurate, it is important to consider the complexity of any project and how that can lead to hidden or unforeseen costs. So, understand that while nearly any job can be done, always consider the costs that you bring into the equation if you are looking to do something extreme.
If you are in the market for a NYC apartment renovation, you probably have done some research into what you think an apartment remodel might cost. You have likely looked at costs per square foot, done some research into what some materials or furniture cost, and looked at what the cost of labor is. So just when you think you have a good handle on what a renovation would cost, you get an estimate and find that it is substantially higher. So, what did you miss?
It turns out there are lot of hidden and underestimated costs in a project that tend to get overlooked when a NYC apartment owner is trying to put together costs for their renovation project. These are things that commonly get ignored but are major costs in any project. So here are some common hidden costs involved in an apartment renovation in New York City.
Design Costs
Even if a homeowner has a design concept in mind, major apartment renovation projects generally need to have design plans put together, and this can add to a budget substantially. Generally, five to ten percent of a project should factor in the design costs. If you hire a design build firm, you can likely get the lower end of this range, but keep in mind design costs include modeling, drawing, as well as the permitting and design approval through the NYC building department. So, keep this in mind when you are estimating your project budget.
Costs per Square Foot
A first cut at estimating costs for a project are considering the amount of square feet you are intending to renovate and running the numbers on an average price per square foot. A general role of thumb is around $350 per square foot for a New York City apartment remodel, but in order to get a more accurate number, you have to really break these costs down further by the type of space you are renovating and what you expect to do in these spaces.
A general rule of thumb is to divide your apartment into what is called dry space and wet space. Dry spaces are places like bedrooms, living rooms, or any other room that does not have any plumbing fixtures, meant for interior renovation. Wet spaces in this case usually refer to a bathroom remodel or a kitchen renovation. Dry Spaces can be estimated in this case as low as $30 to $50 per square foot, while wet spaces are what really should be calculated at $300 to $400 per square foot. More importantly, in any room where you change the layout, such as windows, cabinets, or appliance locations in a kitchen renovation, this is when you should add another $300 per square foot to any costs associated with a specific room.
Layout Changes
To dive further into layout changes, as mentioned if you add $300 per square foot, you are at very least doubling the cost of a project, but maybe even tenfold if you are changing the layout of a dry room. It’s important to note that investing in layout changes rarely improves the value of a house unless there was already an issue with function.
The main reason these costs skyrocket, is that moving fixtures involves some level of work with Sheetrock replacement and electrical, as well as plumbing for any wet spaces. This additional level of work generally requires more permits and approvals which drag out the project timeline. Of bigger concern in older structures, is when contractors open walls and find infrastructure that is non-compliant, they are required to address compliance issues if they choose to touch any of the infrastructure. This can include updating old pipes building wide, redoing faulty electrical work, or improving structural capacity of any members that are deficient. These costs can easily make a project budget get out of control.
Change Orders
After a project goes to construction, any interruption to the original construction plan that requires a redesign, can introduce what is called a design initiated change order (DICO). This is common when you hire a design build firm for a large project, as its important to reflect any changes made to the architecture of an apartment in a final design plan called as-builts.
When a contractor comes across an issue or an obstacle that prevents the project from being built as designed, they must halt work to make sure they can provide a suitable alternative to the work and be able to reflect that. In some cases, these DICO’s can create a substantial increase in labor costs or modify the materials needed to complete the task. It is important to have a set aside budget for these circumstances.
Materials
Finally, when you go off an original cost per square foot estimate or an original design estimate from a design build, it can sometimes be misunderstood how dramatically the cost can increase from specific materials chosen. When a contractor prices out a job, they usually can only price out their labor, and often put in a contract that the price quoted is labor plus materials.
A contractor may quote you on knowledge of hours and factor a percentage into materials. However, if you decide to get high end materials, this price that was quoted goes up substantially. This is common in pricing of unit based material, like tiles which is initially estimated based on a price per square foot but can be substantially different if you are buying marble vs standard ceramic for a bathroom remodel. Also, if you are doing an interior renovation, things like painting can go up if you want a patterned wall or a higher quality paint material. Also consider in any carpentry project, heavier woods like maple and oak are substantially more expensive than poplar or pine.
Conclusion
While cost estimating is a science and never meant to be dead accurate, it is important to consider the complexity of any project and how that can lead to hidden or unforeseen costs. So, understand that while nearly any job can be done, always consider the costs that you bring into the equation if you are looking to do something extreme.
