An Owner’s Guide to Full Gut Renovations

So, you have decided to renovate your house. Congratulations! Whether you just bought your property and are eager to make it over in your image, or you have owned your home for a while and are just ready for an update, you are probably excited to get started. But, you might be overwhelmed or confused about what to do next. We have pulled together a handy homeowner’s guide to full gut renovations to answer all your questions as you work to make your house a home that is fit for you and your family.

What’s a full gut renovation?

First thing’s first - what is a full gut renovation anyway? “Gutting” a home simply means that you are tearing out the interior down to the studs. A full gut renovation involves stripping all of the interior finishes, including windows, drywall, cabinets, plumbing and heating. What you’re left with is the structural foundation of the home. There are gut renovations that aren’t a full gut and might leave things, like the stairs and windows intact, depending on their condition and your budget.?

Is a full gut the right option for me?

Figuring out if a full gut renovation is right for you is the first step. If you own a home built in 1940 or later, the structure and condition of your home is probably suitable for a full gut. Compared to tearing the home down completely and remodeling, leaving the skeleton of the home can often be cheaper by up to $200,000. Not to mention it typically takes less time and you are able to continue living in the home during renovation. If you are happy with the overall size and layout of your home and are just looking for a refresh, a full gut renovation is likely best for you. However, if you would like to add additional living space or redo a floor plan entirely, you may consider tearing down and rebuilding.

How much does this cost?

The average cost to fully gut and remodel a house can range anywhere between $100,000 and $200,000 on average (compared to up to $400,000 or more to tear and rebuild). The total cost of your full gut renovation depends on a few things, such as the size of your home, the condition it’s in and the cost of labor where you live. Another reason the price of a renovation of this scale varies so much is due to unplanned expenses like finding mold or asbestos hiding throughout the home during demolition. Before starting any major project, it’s important to wrap your head around your finances and pad your budget a bit to leave room for unforeseen expenses like these. Worst case scenario is you’re left with some additional funds to use toward decorating or savings.?

How long does this take?

The time to complete a full gut renovation project will of course depend on the scale of the renovation and any obstacles along the way. However, a simple gut can take between three days and a month, whereas the remodeling and construction that follows can be anywhere from three months to a year or more. This will also vary depending on whether you decide to do any of the work yourself or hire a contractor. Hiring a crew of professionals like Prime Renovations will obviously be quicker than trying to complete a renovation on your own.

Would doing the demolition myself save me money?

The actual “gutting” or demolition is relatively cheap, so DIY wouldn’t save you much money. Utilizing a contractor is usually the better option, especially in the event that hidden damages are found, so that professionals can assess the damage and next steps. In some cases, as with asbestos, you aren’t legally allowed to handle the damage yourself. What makes up the majority of the cost of a full gut renovation is often the construction that follows, especially high-end materials and any floor plan or structural changes.

What insurance do I need before I get started?

With any full gut renovation, you will likely need insurance on the property, as well as the workers. You may also need a builder’s risk policy or a vacant dwelling policy. If you do decide to do the demolition yourself, you should ensure that your homeowners policy covers any injuries you, or any friends or family assisting you, might suffer in the process. If you are using a contractor, then simply verify that they have all the proper insurance to cover their workers (hint: we do!).

What is the benefit to hiring a contractor?

We’ve hinted at several advantages above, but to reiterate, using a contractor to help complete a full gut renovation could ultimately save you time and money. It also gives you peace of mind that you have a team of professionals trained and ready to handle any challenges or damages along the way. Rather than having to be hands-on with every aspect of the project, a contractor makes it so that a renovation isn’t fully disrupting your life.?

Let Prime Renovations handle the heavy lifting, so you can focus on the housewarming party. If you’re interested in learning more, feel free to give us a call today at 646-979-9000.