Budgeting for Foundation Replacement
My 1920's Oakland home needs a new foundation, and I'm just beginning to explore how to do this. So far I've gotten one quote, from a company that has good reviews here on BPN. (I'll get other quotes before moving ahead but wanted to start with one, just to get an idea of what cost I might be looking at.)
Their estimate was 95K, which would include excavating the crawl space (right now it's so narrow there are parts that are inaccessible), removing and replacing the perimeter and interior foundation, and installing trench drainage.
Not included are "special inspection and permit fees, or electrical, plumbing or mechanical repairs or alterations required".
For those of you who have had to replace a foundation:
1) How much did you pay for "special inspection and permit fees, or electrical, plumbing or mechanical repairs or alterations required"?
2) Were there other hidden fees/expenses I should budget for?
3) Did your job come in close to the bid? I've seen suggestions that I should budget an extra 10-25% of the original bid as issues might come up once the work begins. Does that sound right?
I plan to refinance my home and pull out some cash to pay for the work, so it's very important I have a good idea of how much to budget before beginning the work. My monthly income is very modest and I don't have much savings to draw from, so if I come up short due to unexpected expenses (which I know there often are in projects like this) I'll be in trouble! If I have some cash left over; I'll just use it for some other smaller home projects that aren't urgent, but which will need to be done in the next few years.
Also, any recommendations of companies you've used (or a company you wouldn't recommend based on your experience) would be welcomed! I've looked at the past reviews on BPN but new info is welcome. :)