Tentative budget for 3731 Northwestern St, public feedback welcome

The following is a budget snapshot from an editable, public version on this Google Sheet

One note is that we have a “smooth failure mode”. In engineering, a “failure mode” is what happens in the worst case, for example, if a car engine loses power. Most cars are designed so that if you run out of gas, the car just slows down and you have time to pull over to the right safely and get help. In our case, if we run out of money, time (our self-imposed deadline of closing by December 2022), or personal energy to rehab our house, we can always list it in its current condition on Zillow or with a community-minded realtor, recoup the costs from this budget, and distribute them in a legally binding way, with appreciation, to those individuals who took a risk and invested their time and money in Detroit Arcology.

Percent markup Proposed Cost
Proposed Resale Price 10% markup 77000
Proposed Resale Price 20% markup 84000
Proposed Resale Price 30% markup 91000
Rehab Budget Total 70000
Remaining Budget Budget Total - Actual - Estimated = -147
Description Date Reimburse To
Purchase price of home 6/9/2021 34000 Paul
House inspection 400 Paul
Realtor fee 495 Paul
Title agency fee
Property Taxes 2021 650 Pro-rated Paul Based on last year
Plumber (sewer scope, water main)
Electrician, test outlets / redo wiring
Re-shingle roof
Solar panel
Water turn-on deposit 150 Paul
Plumbing (Water Line Replacement) 1500 Paul
Plumbing (Sewer Line Replacement) 1600 Paul
Asbestos Removal Quote 1 (Tony) 1450 Paul $500 for materials + $700 labor. Additional $500 to do demo work on drop ceiling
Washing / dryer 300 Paul There’s one of these in the basement right now, in unknown working condition
Fridge 300 Paul
Gas stove 300 Paul
Washer 200 Paul
Dryer 200 Paul
Appliance Delivery 35 Paul
Garbage can fee 25 Adrian
Window replacement 216 Paul Bottom window sash rebuilt, plus new glass for two landing windows, and I broke one while reglazing
Energy Audit 150 Adrian From Ecotelligent Homes
HEPA Filter (for vacuum) 29.97 Adrian
Actual Costs Above This Line 41605

Line of Reality

All costs above this line have already been paid.
All costs below are estimated / projected.

Description Date Reimburse To
Estimated Costs Below This Line 28542
Roof re-shingling and fascia 16,142
Mesh sector antenae and networking equipment 0 Delay to the future, after we’ve controlled costs for first house
Refinishing basement 0 Delay to the future, after we’re renting on airbnb or depending on whether buyers want it or not
Landscape regrading 0 Optional, as long as we get gutters fixed and rain barrels in place, we can handle most of the moisture seeping into basement
Repainting 1000
Gutting and re-hanging drywall 2000 See detailed breakdown at Demolition / gutting walls quote - #3 by cryptogoth
Bathroom remodel 2000
Kitchen remodel 2000
Door replacement 500
Installing new storm windows 1000 To get estimate from Henderson Glass
Homeowner’s insurance 1200 Adrian pays about $100/mo through State Farm
Solar panels
Roof repair of soffits, fascia, gutter 1000
Security system 700
Insulation 1000 Estimated for attic & rim joists, but will get more clarity after energy audit
END OF BUDGET
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Since repairing the roof is the biggest budget item on this list, and since the roof is not leaking when I was up there.
It might be wise to leave that for the last, as the roof might still last for some time.
First do the rest then see the budget and then do the roof.
Because the rest must get done, the roof is a big ticket item and might not need to be done.
also the solar could be instead of the roof budge wise, but then again I don’t know what shape this roof is in, or how long it will last?

Thx for feedback @yfgame . Estimates from roofers and our house inspectors are that the current roof, while not in the best shape, will last between 1 and 5 years. This doesn’t match our goal of a 25 year warranty for the house, and is also a disproportionately large part of the budget. This is the only open source house rehab budget I know of, for us to compare to.

I’m open to ideas of how to solve this, it will definitely need the creativity and input of the community.

It’s great to see the budget, thanks for posting this @cryptogoth.

One thing to mention is that the sewer line (if it ever needs to be replaced) may be covered by the State Farm homeowners insurance.

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Estimate seems accurate but will also be fluid depending on how much of the labor will be done in house. The roof is the biggest expense as stated previously and much of the budget will be allotted to that. I am open to possibly doing the work ourselves. Perhaps that would cut the budget in half maybe more.

Sure I’m okay with hiring a roofer or attempting it ourselves in the new year. I’ll be back to help in May, and in the meantime I’ll try roofing a small cabin here in the desert to get experience. I’ll swap you photos here for photos of Detroit houses @adrian @Dame @slimbandana313

The roofing is where I could use financial co-investment for the materials, as I’m reaching my limit on what I can invest in 3731. We’ll keep working on the LLC / cooperative agreement.