How much would it cost to potentially gut and remodel a home?

I am thinking of buying a shell property in an up-and-coming neighborhood in Philadelphia. I would like to get a contractor to gut the whole thing and make it to my specs. Essentially, I want a garage on the first level; new kitchen, half bath, and LR/DR on second level; and 1-2 bedrooms and full bath on 3rd level. I don't really know much about the home buying process, nor do I have any experience or expertise in gutting a home. However, it seems like a viable option to at least think about...any ideas on costs, timeframe, what I will need to do/have done would be helpful.

Asked By: u2thunder - 1/27/2010
Best Answer - Chosen by Asker
Reality check time: I have bought and renovated 3 old homes doing about 75% of the work myself and 25% with contractors, though nowhere near to the extent you are talking about and have also been a construction manager for almost 30 years. Yet I would hesitate to undertake what you are talking about. First, there... More
Answered By: c_kayak_fun - 1/28/2010
Additional Answers (5)
Answered By: 6.5 Billion Of Me - 1/27/2010
I agree with the above estimates. But man I feel for you if you do buy this. If this is your first home -DO NOT BUY A REHAB. You are not prepared mentally for this task. I am 32 and two years ago I HAD to buy my first house. I checked out a craftsman fixer in a great neighborhood. It would have taken at least... More
Answered By: Brooke S - 1/27/2010
man its gonna be expensive if you need a thankful i have developed an arsenal of skills in my lifetime.pending materials,i could do it for a 1/4 of what you can.but actually if you can afford it, go for it, you will get exactly what the contractor thinks you very careful about the bid,do not pay... More
Answered By: idontgivafork - 1/28/2010
I agree with those that said $100,000 +, but the only way to get a good idea is to have local contractors tell you what they would charge. If you really like the house and the location, you could phase the job out so you don't have to come up with all the money at once... More
Answered By: Charles - 1/28/2010
I would recommend finding a contractor so that you know what will be involved before starting this huge project. You can receive free estimates from licensed and insured contractors who are in good standings with the Better Business Bureau by visiting
Answered By: Lori - 1/28/2010
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Click. Search. Apply. Free!
Jobs hiring near your local area. Part-time, Full-time, Work at home.
Sobre 287 Trabajos en tu area. $15-87/hora - Aplica Ahora.

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-207