How to Assess the Cost of a Fixer-Upper, Part 2.
1. Check permits and their cost. Find out if the work to be done requires a permit and how much that permit costs. Factor the cost, time and aggravation of permits into your plans.
2. Determine whether you will supervise subs or hire a general contractor to do so. If you’re not going to hire a general contractor, you better plan to be there when the work is done so it gets done right.
3. Budget sufficient time. General contractors will work on other jobs besides yours and some days nothing will get done. Plus things almost never go the way you think, and delays are a given. So give yourself a realistic time to complete the job – and remember, time is money.