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Question DetailsAsked on 8/5/2013

How much will a contractor charge to replace dry wall in a new home

A home is listed for 78,000 cash due to originally being built with chinese dry-wall. All of the dry wall has been ripped out but it needs replacing. I am looking into purchasing the home possibly but I would like to try & get approved for one full amount so I will only owe my mortgage. It's a two-story single family home & its over 2,00 sq ft.

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1) You should have the plumbing and electrical inspected - the "chinese drywall problem" is due to corrosive minerals in the drywall, that corrode the utilities as well as the nails and other fasteners in the walls. If that exists or has not been fixed, you would be buying a lemon.

2) You should get at least one firm bid on the drywall and painting to protect yourself - general numbers, drywall should run you about $1.25-2.00/SF, texturing (for surfaces to be tetured) about $1.00-1.70/SF with the spray ones cheapest, thick ones like knockdown or ragged most expensive.

Paint about $2-4/SF - normally around $2.50-3.00/SF for primer plus 2 coats.

3) Check with your homeowner's insurance company if they want to inspect it - some are refusing to insure houses with that problem unless their own inspector inspects the repairs and for corrosion BEFORE the new drywall is applied.

4) check with your Realtor/Lender if the house is eligible for an FHA "Streamline" 203(k) loan - designed for distressed and fixer-upper houses, has better terms and wraps the repair cost in with the purchase loan.

Answered 6 years ago by LCD




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