Process for Renovating when purchasing a co-op?
Started by SRZ
about 15 years ago
Posts: 8
Member since: Oct 2008
Discussion about
If you plan to purchase a co-op that needs work (ie kitchen, bathrooms), what is the timeline for engaging architects, contractors, buying materials, etc. Assuming you'd like to move in as soon as possible, do you start talking to architects once you are in contract, or after board approval or after closing? Also, if you'd like to see what other apartments in the same line have done, how do you go about asking about that (and do you wait until after board approval)?
You should probably start talking to an architect at least before you sign.
Usually the building manager or super will have info on other recent renovation projects in the building and may even have recommendations as to contractors who have been approved and done good work in the building before. However he may not want to talk to you until after you are approved by the board. May be worth asking the seller's broker.
Hi SRZ
I am an architect with experience in preparing drawings for coop board review and DOB filing as well.
My fee is very reasonable and I also provide free consultation.
If you are interested, please contact me generative.arch@gmail.com, thanks.
Prior to purchase, I suggest you look at the bylaws of the co-op. They can have some pretty onerous restrictions and fees concerning renovations. In some cases, it might be enough to steer clear of a building or perhaps purchase a unit in "move in" condition. In the least, you should take the costs and hassle into account when trying to establish a price for a unit that needs "TLC".
Srz,
You should try to meet whatever trades you need as soon as you are in contract. What I mean by that is you want to have the trades hired prior to closing. When you go to the closing it is always good to bring with you the alteration agreement along with the general contractor's license, plumbers license and electricians license as well as all their insurances. If you need drawings it would be smart to bring them as well.
It usually takes two weeks to get approved to do the work but sometimes it takes longer, I issued all my paperwork to a building on the uws and it has already been a month, no approval.
Try to get your contractors into the apartment prior to closing so they can give you estimates and you have time to check references, same goes for any architect or designer.
It really depends on what work and budget you have. If it is minor work you need a good gc,
Please consider soundproofing since you're renovating. I've had renovations on all sides of my apartment and no one bothered to soundproof. So I got to hear my neighbor's shower drip for a week before he fixed it. And everyone can hear when a neighbor uses a faucet or toilet. If nothing else, put in devices that prevent water hammer.
You should ask seller if they can get you a list of co-op owners who have renovated and speak to them to find out about the process. My friend bought a co-op in July and is still waiting for approval on her renovation. She submitted her first set of drawings immediately after closing.