Non Permitted Basmenrt
Does anyone have a suggestion on how to go about retailing a house that had a basement finished without pulling a city permit? I found out I can get the city to come out and inspect it, but the problem with this is that the inspector may require me to make changes before I can sell it and he might have to put holes in the drywall to inspect for proper installation of the drywall, wiring, and plumbing. Any suggestions would be appreciated.
Thanks!
Tim Guyton
Just put it on the market as it is without clearing up the inspection issue.
Thanks for the advice guys.
Clarify your question.............all we know is that;
1) you have an idea - which you didnt go into detail about.
2) the secord story has low ceilings that you can not stand up in
3) the size of the second story
and
4) you want an estimate for an idea you did not mention to us.
Any way, if you still insist on a price.......I would say somewhere between $1.00 and $1,000,000.00 should cover it..............for the latter I will throw in a small swimming pool (blow up of course).
(smile)
NC
Here is some info needed to nail down your problem.
1. How is the outside finished? Stucco, Siding, etc.
2. How is the roof constructed? Gable, Hip, etc. Stick built or Truss?
3. What is the roof pitch? 3:1, 12:1, etc.
4. What is the roof covering? Shingle, Tile, Sheet Metal, etc.
5. How is the home heated? Forced Air, Wall, Radiant, etc.
6. Is there plumbing upstairs? If so is it in exterior walls or interior?
7. How is the interior finished? Drywall, Lath&Plaster, etc.
8. What kind of windows are in the home? Double hung, sliders, etc.
9. Most of all what year was it built? Was it ever remodeled? ie. what building codes are currently inforce? Have they changed significantly that the whole home will have to be structurally retrofitted? Odds are the answer to this one will kill your project. If you could get away with just pony-walls and a new roof structure well...
This list could go on forever. Grabbing a local builder would probably be easier. Good Luck. Odds are its not worth it unless you get the house free. You will not be expanding the one thing that most affects the homes value and that is square feet! The wild card is view. If your gaining some incredible view it will be hard to put a solid value on the potential. [ Edited by ChrisSanDiego on Date 04/17/2006 ]
I think everybody is making this more complicated than it is. He is looking for a ball park.
I believe he is talking about tearing off an existing roof and raising the second floor walls about 18-24". New construction of this sort would run you about 80-90 sqft. If you figure 120 this would get you fairly close for a ballpark.
15x30=450sqft, x $120 = $54,000.
You will never have a solid number until you have the design drawn and send it out for estimates from contractors who do this type of work.
Like mikejaquish mentioned earlier, your influence can change this number a lot depending on finishes. Unless I missed something here, this is the way I see it.
I am always dumb founded to why anyone would ask such a question, with any seriousness, and get a "close" enough answer to make a valid decision.
A serious investor would or should have several contractors on
his rolodex and get estimates from such versus getting answers from all over the U.S.A.
Of those that have made an attempt to answer such a question..........how many of you have actually accomplished such a feat (not that is complicated) to even talk about it.
Im sure some may think......." Yank, you are coming across somewhat hard..." but the question is so ambiguous that for anyone to seriously even consider making a decision based upon those who have 1) never done it OR 2)is giving an estimate without looking at the job.................well it is very foolish............or amaturish at best,....... take your pick.
Kind of like.........how much can you build me a (fill in the blank)________________ and know, I dont have plans or a budget.
I always crinch when I see such post.
NC_Yank
OK OK man...I am a GC...and before you even think about this....you first have to look at the foundation. Is it a home on a slab, crawl space w/ concrete 8" wide with a 12" footing base (one story construction), concrete block, basement or is the foundation capable of supporting a second story. Next are the "second" floor joist (now the ceiling joists) of proper size? (Now why would they be if they are only holding up drywall?) What I am trying to point out is I don’t care what the average cost per sqft is it all depends on factors that have to be calculated. A home with a foundation that will support a second story will cost less to retro than one that needs the foundation replaced. Same with the interior structural design of the original home. It really (if the foundation will support the weight) is not just a roof tear off but also a complete roof, truss and rafter removal. Then opening the lower walls in places to support the load to carry it down to the foundation. This will involve more engineering. Depending on the width of the home LVL trusses might be needed or steel to carry to the load. So really without having an engineer, GC and maybe an architect all involved to arrive at the cost its all pie in the sky. First thing you need to ask is it worth you time to get all these people involved (plus the permit agency who approves the plans) to find out if this is doable. I go to many peoples homes and get asked this very question (or can I add a basement from this crawl space) (eye roll). How much to raise the roof and make the attic a living space. (eye roll) Let me just say this....I have yet to find 1 out of 50 homes that would pencil out at a break even to add a second story. Those homes are view homes on lakes or homes where a second story will increase the value with a VIEW not just in sqft. It costs less to build a new house than to add on to an existing home when it’s a second story. Now add sqft on the ground floor= break even $$ most of the time. Add an addition to the existing house with a second story= break even $$ most of the time (its new construction). Anyways hope this helps someone. I do rehabs and to save costs unless it will REALLY add value I don’t move walls, electrical, and plumbing.
Hi, Matty....
Feeling encouraged yet by the warmth?
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Look at Azek.
http://www.azek.com/
Give this a try.
http://craftsman-book.com/products/index.php?main_page=cbc_product_book_info&cPath=7&products_id=159&detail=toc
Of course this wood be a good time for replacement windows and wrapping trim.
The PVC is great and the way to go. I would only consider this if you only have to replace the brickmolding which is the top and side molding. And not the window stop molding which is behind the brickmold or the window sill. And ONLY if easy to get off. Try one first. Old caulk may have it glued to siding trim and damage it and you may have a little trouble around drip cap on top of the top piece of brick mold.
By the time you buy the molding take the time to do one and then paint you will most often find just cheaper to have the window trim wrapped to cover your problem like most would when haveing replacement windows installed. Should cost about $50.00 to $75.00 each window for all the window trim.
Policies for a vacant rehab are out of sight pricewise and I get mine thru acampany that does commercial policies. Like for my contracting business. Seems to me if you get apolicy for a house you say is occupied and it is not and being rehabbed you might have a problem if you have a claim also my company I use comes out to inspect some of the time.. Rental policies are not too bad and I get mine from the same company I get my personal homowners.
For rehab to rental, I have used State Farm. I purchase a landlord dwelling policy with a 30-day vacancy rider. Vacancy rider only added about $50 to the cost of the landlord policy.
For rehab to flip, I have not found a national brand name that will write a policy. Since the property is not new construction, builders risk policy is out. The state where I have a couple of rehabs going right now does have a (state mandated) mutual insurance policy that I can purchase from an independent agent. The policy is basic hazard coverage and excludes theft, vandalism, and liability. Coverage limit is for after repaired value, but if I sustain a total loss before rehab is complete, the insurance benefit will be reduced to my actual investment.
JeffJames,
If you have an unoccupied or non-owner occupied property on a "homeowners" (owner-occupied) policy, an insurer can and will deny a claim. The type of mortgage on the property has no bearing on the validity of the insurance contract. Though the articl I wrote here applies to Sub2 specifically, many points address issues you have:
http://www.thecreativeinvestor.com/modules.php?name=Articles&file=article&mode=nested&articleid=472#3293
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NewKid,
Have you tried AMIG (American Modern), Diamond States, or Foremost?
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