Renovating your New York City home can be a daunting task. You have to meet with your co-op or condo board, obtain permits from the Department of Buildings, choose quality materials and contractors and more.
It’s also important to consider all the hidden expenses of remodeling. Those include permit costs and design fees.
1. Get an Architect’s Appraisal
It’s important to have a professional look at your plans and provide an appraisal. This will give you a realistic idea of whether or not your renovation is feasible within the budget that you have assigned to it. A good architect will also be able to help you find creative solutions to problems that come up during construction, such as a wall being moved or plumbing issues.
If you live in a co-op or condo building, you’ll need to get the board’s approval before any work can be done. This can be a lengthy process, and it’s always best to have your project planned out in advance to minimize frustrations and delays. This will include any fees the board may charge, non-refundable deposits, and a timeline for when your project can begin.
Once the board has approved your remodel, City permits will need to be pulled before work can begin. This can take a few weeks or even months depending on the building and the extent of the work. It’s a great idea to have your contractor and architect work together so that everyone is on the same page. This way, if any issues arise during construction, they’ll be able to consult the plans and come up with an appropriate solution without cutting corners or costing you more money in the long run.
2. Check with the Department of Buildings for Permits
While some renovations like refinishing floors, painting and rewiring don’t require City building permits; doing a major kitchen or bathroom remodel that requires demolishing walls or constructing new ones definitely does. You’ll need a City permit before any work begins and this can add weeks to the renovation timeline. It’s wise to find a design-to-build firm that handles all aspects of your renovation, from permit applications to construction and inspections.
Grand plans can also be stymied by your co-op or condo’s rules, particularly as it relates to the length of the project and how invasive it will be. The board may also impose additional requirements for insurance policies, and sometimes have strict moratoriums on construction during certain holidays.
Aside from the potential rules imposed by your board, there are also the nitty-gritty costs that will be incurred throughout the renovation process. Some of these costs are easy to predict, like labor (although this can be harder to estimate than materials); others are less obvious, such as the price increase for specialized trades like master plumbers and electricians due to increased safety measures. Depending on the scope of your renovation, you’ll also need to budget for temporary housing during construction.
3. Check for Restrictions on Your Building
As a homeowner, it’s your responsibility to check with your building management about any potential renovation restrictions. Many NYC buildings have their own co-op or condo rules that may impose a limit on how much you can renovate and when you can do it. These rules are often hyper-local, and can include things like whether your project will be allowed to take place during holiday periods or if it must be completed in six months.
Kitchens and bathrooms typically have the highest return on investment in terms of resale value, so you want to make sure that any remodel work is going to be beneficial for your apartment’s saleability. This may mean spending a little extra on more luxurious finishes, but it will usually pay off when you decide to sell your home in the future.
A good design-and-build team will have the knowledge and resources to help you avoid any snags with your building’s rules. They should also be able to tell you if any portion of your renovation will require a City permit, which can add weeks (or even longer) to the time it takes to get the work started. For this reason, you should always choose a design-to-build firm so that everything is handled with one crew, making the approval process smoother and faster.
4. Check for Temporary Housing
While it’s not the most fun aspect of renovating your home, finding temporary housing is a necessary expense to factor into your budget. It can also add a lot of stress to the project and be a source of frustration, especially if it goes over-budget.
While the exact costs of an NYC apartment renovation will vary, a full-home remodel typically costs $100-$200 per square foot. Kitchens and bathrooms are the most expensive spaces to renovate, while dry spaces are cheaper.
The good news is that there are a number of options available for people looking to find temporary housing during their NYC home renovation. You can rent short-term apartments, stay with family or friends, or opt for hotels. If you are staying with friends or family, be sure to give them plenty of advance notice so they can clear their schedule and accommodate you.
Another option is to consider hiring a design-to-build firm for your NYC apartment renovation, which will streamline the entire process and make it less stressful. However, be aware that not all firms are created equal and larger companies will have more resources at their disposal to get your renovation done faster and more efficiently.
5. Check for Illegal Parking
In addition to the nitty-gritty, there are plenty of other things that can easily derail a renovation project in NYC. From the need to pay for parking for the contractors and their trucks each day to the fact that most co-op buildings have a superintendent on-site to help keep everything running smoothly (and give tips), there are a variety of hidden expenses that can add up.
When working out a budget with your contractor, it’s important to be open and honest about your interests and limitations. A good general contractor will understand that not everyone can get everything they want in one space, and will be able to help you find solutions that maximize the value of your home without blowing your budget.
For a typical gut renovation with new materials and labor, expect to pay $100-200 per square foot. However, that figure can vary widely depending on the specific project and building. For example, prewar co-ops and brownstones often present their own challenges, including outdated plumbing and wiring that must be moved or rerouted. Also, some buildings have a lot of restrictions that can add to the cost. For instance, they may have a limited number of hours during which construction is allowed, or require the use of certain tools like jackhammers to avoid noise complaints from neighbors.
6. Check for Insurance
There are some hidden costs to keep in mind when budgeting your NYC home renovation project. Some of these include electrical and plumbing permits, which can add up quickly. Also, labor costs are often underestimated. This is because there are many different types of contractors, and each has their own specific costs. Some examples include carpenters and electricians. Having a firm quote from your contractor will help you budget your project better, but it is still wise to include a 10-20 percent contingency for unexpected expenses.
Another thing to consider is the cost of materials. This can suck up your budget quickly, especially if you choose high-end or custom materials. It is helpful to save on materials wherever possible and use repurposed or recycled products when available.
Lastly, it is important to understand how long a renovation project will take. It is common for projects to take longer than expected, so it’s important to be patient and realistic when planning. Also, be sure to work with a design-to-build company that can handle all aspects of your renovation from start to finish. This will make the process easier and faster. The last thing you want is to switch things up halfway through a renovation, which can cost thousands and add significant time to your project.
7. Check with the Contractor
As you shop around for your contractor, look beyond pricing to see if they can offer any additional services. Low prices may not necessarily mean they’re the best option—it could indicate they’re not properly set up to do business (and won’t be able to complete your project to your satisfaction). Similarly, a high price doesn’t automatically mean they’re the best option—it can indicate that they’re not familiar with your specific project and might overcharge you.
Additionally, ask your contractor for a detailed breakdown of their proposal. This will help you budget for your NYC apartment renovations by ensuring you know what exactly is included in their quote, from a permit to the cost of materials. If you find a contractor that offers transparent quotes, it’s likely they have the experience and references to back them up.
The bottom line is that renovating an NYC home or apartment can be expensive and time-consuming—and it’s even more complicated when you’re dealing with a coop board, historic Landmark approvals and procurement of construction materials. Choosing the right team to help you navigate this process will ensure that it’s not only financially sound, but also as stress-free as possible.
