I am sure you guys get these all the time but if you could find it in you heart to lend some advice to a first time home buyer it would be a great help.
During the process of buying a house on a 203k Renovation mortgage loan, I got it in my head that I need central air in this house. I am located in the northeast USA and the home is an infill row home (attached on both sides.) It is 3 stories, sits on a 14' wide lot, is about 2200 sf, with five bed two bath, typical 9 ft ceilings and an existing radiator system. The furnace is about 40-45 years old so I would have to replace it at a minimum.
However I figured why not just throw in an entire brand new system. The house is pretty tight, so the contractors I brought in for a thorough examination and estimate think that two systems are necessary to eliminate the giant trunk that would need to be run through the house and in order to keep the entire house comfortable. The proposed is a 3-ton basement unit with compressor in the yard which feed 1200 sf - the first floor and second floor rear. The second unit would be a 1.5-ton on the third floor with compressor on the roof and would feed the second floor bedrooms and the entire third floor about 1000 sf.
Their estimate reads a bit over $26k and I feel like that is high. I am under the gun and don't have time to engage another contractor since the estimate needs to be submitted to the bank to schedule the appraisal and I have already extended my mortgage contingency period.
Any advice on reducing this cost or replacing this scheme of replacement would be greatly appreciated. I have considered just a few minisplits and window units to go along with the furnace replacement if in dire straights. I am attempting to stay under $35k in total renovation so a little more room would go a long way as far as other repairs.
Edit: Just... edits
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