Evaluation of the contractor's cost estimate

Dear forum members,

I would like to get your assessment of the following construction project with the framework conditions:

1. Conversion of an attic
- Living area 78 sqm
- Shell construction
- Pipes, electricity, connections and insulation already prepared
- Walls not clad
- Formwork for windows already available

What is to be done?
Conversion into a living space (floors installed, painting work, walls installed, 3 doors) with a bathroom and 2 separate rooms. Additionally 4 roof windows. Heating with radiators, construction class: normal, not extraordinarily high quality

2. Renovation/refurbishment of an upper floor
- Living area 108 sqm incl. balcony
- Year of construction 2002

What is to be done?
1 new bathroom, 1 new guest WC, new floors everywhere, 1 wall removed, 4 new windows, 2 new balcony doors, new shutters, balcony reclad (8 sqm) and new floor, painting work, 4 new doors, installation of underfloor heating

The contractor’s current cost estimate amounts to €300,000, which corresponds to about €1,500 per sqm.

What is your assessment? Justified or rip-off? Is this currently an unfavorable time for a project of this kind? Should I rather wait until the market situation has calmed down?

If I have forgotten something essential in the listing, I will be happy to add it.

Thank you in advance for your effort and I very much look forward to input

Regards

JM2022

The contractor's current cost estimate amounted to €300,000, which corresponds to about €1,500 per sqm.

Give me the contract. I will do it for €130K and still earn €70K.

I hope you can interpret my response ;)

In my opinion (I have also been dealing with construction and renovation prices for quite some time), quite expensive. Get 2-3 more quotes, then you will see.

Give me the contract. I will do it for €130k and still earn €70k.

I hope you can interpret my answer ;)

Please don't exaggerate. A bathroom can cost €5,000 or €20,000… €30,000…. How do you know what is being installed?

@TE: in general, or with the information available, this cannot be assessed.

Don't exaggerate. A bathroom can cost €5,000 or €20,000…€30,000. How do you know what is installed?

Because it doesn't matter at all what is installed.
The attic is in the refined shell stage, the upper floor needs manageable renovation. Whoever asks €1,500 per sqm for that knows exactly what they are doing and that they are looking for an idiot to fill their pockets.

2 bathrooms at €40k each = €80k
1 guest bathroom €15k = €15k
78 sqm floor at €200/sqm = €15.5k
Drywall in attic = €30k
Painting 78 sqm = €25k
Four roof windows at €3k each = €12k
Radiators attic €10k = €10k
3 doors attic at €1.5k each = €4.5k
108 sqm floor at €200/sqm = 21.5k
Upper floor 4 windows/2 balcony doors with shutters new = €15k
Upper floor 4 doors at €1.5k each = €6k
Upper floor 108 sqm painting = €35k
Cladding balcony = €5k

Open question: I would leave out the wall removal and underfloor heating because I don’t know exactly what is meant by that (support beam needed for wall, adjusting pipes, milling underfloor heating or removing screed, etc.).

Then I am at just over €270k for a normal standard (the original poster does not want more) and would have €30k for the two open issues.

And now, dear , what do you think about my cost breakdown? Do you find the prices appropriate? What would you say about these prices for your new build? Don’t say it’s normal... The mentioned work in a new build perhaps makes up 20–25% of the costs – which would then translate to construction costs for a house of €6,000–7,500 per sqm…

I chose the prices so that the sum is fully used. If you take "only" €50 parquet + installation costs of the same amount for the floors, you already save almost €20k. Or the normal standard is a floor covering refined with gold leaf hammered by a virgin during the once-a-year blood moon.

Conclusion: Absolute moon prices. Or the original poster forgot various things that still add to the already mentioned positions.

Usury in my opinion, especially since the [OG] is almost finished