Posted 26 November 2010 - 11:59 AM
[quote name='Nparker'][quote name='jonny']
I am not sure if anyone has ever refurbished or renovated an old building, but there are ALWAYS costly surprises to be found behind old walls, floors etc. One almost always has to expect to go over budget in this sort of project. I would expect refurbishing an old bridge (which admitedly has less than a stellar maintenance record of late) would also have its fair share of surprise expenses. I don't think factoring in a larger contingency into the estimate is an unfair comparison.[/quote]
You know, I never liked the home renovation analogy put forth by the City. New construction is subject to cost overruns, they're just a bit different. Usually what ends up happening is that you start choosing more expensive building materials along the way (e.g., the difference between a utilitarian faucet and a titanium faucet with a retractable hose is $50...well, it's only $50 and this new build is worth thousands, so what's $50!?) - so by the time you get to the landscaping, you end up having to chintz out because you don't have enough cash left.