Restoration Budget

[Tunnelratt]

I have been doing the slow build on my 75 FST since the tail end of 06 and enjoying every minute, she is really in remarkable shape for a truck that I had to force the PO to take $ 500.00, ( he wanted me to just take it), the only rust on the entire truck is at the rear sill, everything is original and she ran ( barely) when I got her.

I have a question for the guys that have done the whole resto thing...how did you figure a budget? did you sit down with the SOR catalog and price every conceiveable item? did you just have a pot full of money and kept spending? I dont want to do a full concourse resto but I would like to get all of the collected body parts repaired and painted, some more mechanical work finished etc.

I am thinking its like contracting, do a take off, price the items, total, tack on a percentage, but I have formulas that I use for differing things...is there a formula?

Anyway here is a pic of the old girl right after I got her, she hasnt changed much visibly, but mechanicly its a world of difference.

As always, Thanks for any advice

 

[1973Guppie]

well, you will probably get a bunch of opinions here, but it really depends on so many factors, how much of it are you going to farm out? You can spend a ton of $$ by taking every piece to be plated, painted, rechromed, powdercoated, whatever and it will add up quick. On the other hand if you do it by hand and paint things yourself, etc, you will save a bunch of $$. It all depends on what you want the end product to be, on my fj40 when I redid it, it did not cost too much money because I considered it a trail truck that woudl be used, rattle can paint, had lots of friends help with welding, refinished parts rather than buying new, etc.

Give us a better idea of what you specifically want to do and how you want to do it, from the frame to the end product and maybe people can give you a better idea.

Noah

 

[FF LC FREAK]

For me, it wasn't so much the big ticket items that have added up. Sure, they were expensive (exhaust, suspension, etc), but I had planned on that. It was all the little things that ate up my paychecks. Granted, I haven't done a full resto, but I have been "building" my rig for 2 years. What gets me are the trips to the local hardware store for bolts, nuts, tools, etc. that I hadn't planned on.

For example, my latest project is a leaky oil seal on the front output of my transfer case. The cost of the seal is $6 from $OR (read $14 with shipping). I think "no problem". But, I don't have a socket that fits the nut on the output shaft. I do a search on Mud and get 27mm, 29mm and 32mm (with a 1 1/16" and 1 1/8" as alternates) for the nut size. I have a 27 mm and I know it isn't that. The local NAPA has a 32mm and a 1 1/16" so I buy those for $5 each. No go. I buy another 1 1/8 and it fits fine. So, $18 (with tax) for 3 sockets to change a $6 part. That is what gets me.

Next, I'll end up breaking a bolt so I'll have to spend $3 for a new one. Not a big deal, but it nickel and dimes you. If you have a full shop of tools, it probably won't be as bad. I guess it all depends on where you are starting. Factor in at least 10-20% for tools and hardware that you may not have. My $.02.

Good luck!

 

[watrob]

My bolt and nut bill has come out at over $485.00, I used stainless steel everywhere that I could get away with.

My rebuild/restore has cost around $28k at least and still counting and I have done all the labour.

It's not cheap if if you want to make it look like new.

 

[thecrazygreek]

10k should be enough for a very nice restoration. (all labor done by you) This would be a non-mechanical resto.

my .02

 

[FJ40.]

A buget doesn't really work when working on cars..

 

[watrob]

I like that FJ40,

A budget does not really work, the next meeting I have with my private banker I'II tell him that and see what his reaction is, should be good.

Good one. like it.

 

[Weedhopper]

Yes, I sat down with a SOR catalog, looked online for other things, got ballpark prices for welding from pics, added 30% and came up with a rough budget. Then I bought another truck! The education I got by doing the research and lurking here for a year paid huge dividends.

 

[M5driver]

Tunnelratt,

This is like paying your taxes on the form 1040ReallyEZ: "How much did you make? Send it in."

It really depends on how much you want to do - "New car" vs "fix what's broke and drive it" or something in between. I set aside $10K and expect to at least meet, if not exceed, that goal.

The saving grace for me is that labor is cheap in Malawi; parts and replacements are not. What I save in labor costs for the parts I don't do myself, I make up for in cost of importing EVERYTHING including spark plugs. For me, the goal is to replace what is worn out or out of spec after 30 years of use, and drive the Blue Mule for another 30 years - on road, off road, no road, and add some more African pinstriping before I return to the States (white-thorn acacia is good for that). The Mule has always been a working truck, frequently a daily driver, and I want to keep it that way.

Bottom line is, you decide the budget, and then meet it, while trying not to exceed it too much.

Cheers.

 

[etoddo]

x3 on the nuts and bolts. The $20,30..40 trips to Ace hardware really start to add up quick.

I am in year 3 and about 90% finished. Sometime during year 2 I decided it was now a Sunday driver/trail rig and not for show. I think this shaved 8-12 years and $60,000 off the project.

And futhermore, since this was my second ground up restore I now considered myself a knowledgable expert and would finish this build in less than a year........right.

I have to agree this is a budgetless area, unless you set it at say $50,000 and use what is left over to either by lunch or remodel the house. It is hard to put a price on a sick addiction. Just enjoy the ride and use the knowlwdge of the guys on this site. They can save you a lot of money and frustration. Good Luck

 

[watrob]

x3 on the nuts and bolts. The $20,30..40 trips to Ace hardware really start to add up quick.

I am in year 3 and about 90% finished. Sometime during year 2 I decided it was now a Sunday driver/trail rig and not for show. I think this shaved 8-12 years and $60,000 off the project.

And futhermore, since this was my second ground up restore I now considered myself a knowledgable expert and would finish this build in less than a year........right.

I have to agree this is a budgetless area, unless you set it at say $50,000 and use what is left over to either by lunch or remodel the house. It is hard to put a price on a sick addiction. Just enjoy the ride and use the knowlwdge of the guys on this site. They can save you a lot of money and frustration. Good Luck

Yeh,

I have gone that far with this rebuild that I have already thrown away the iginition key. It will not be leaving the garage. Going to project a video on the garage wall of a trail drive and just seat behind the steering wheel and pretend

 

[dgangle]

What I did was sat down and figured what I wanted it to be and what labor and parts would take to make it that way. I then added up all the costs, added 25% (which wasn't conservative enough). I then had to figure out how much I could and would spend. I cut some things out of my wishlist that I could live without or do later as $$ came available in the future (like AC). I added some things in that were cheaper to do on the front end than add in later (like the engine swap as the stock engine was history).

As the project went along for the next 14 months I kept track of what I spent next to what I budgetted. I had to add another column on the spreadsheet titled "OTHER" which about broke the bank looking back!

If I were to do another one I could cut some money here and add some there, as with anything there will be mistakes made and they cost $$.

 

[Coolerman]

Budgets? Plans? WTF? These are Cruisers, not 1963, split window Corvettes! Do like the rest of us poor slobs,

Spend until you bleed or the leaves which ever comes first!​

Just for reference I'm into mine for about 3 years and $3200 and have not bought ANY bolts and nuts yet....

 

[watrob]

Budgets? Plans? WTF? These are Cruisers, not 1963, split window Corvettes! Do like the rest of us poor slobs,

Spend until you bleed or the leaves which ever comes first!​

Just for reference I'm into mine for about 3 years and $3200 and have not bought ANY bolts and nuts yet....

I thought I would get all new stainless steel nuts & bolts and sell all the my old nuts & bolts as oem originals

 

[Coolerman]

Good idea, but you will have to restore each one of them back to OEM specs in order to get the best price!

 

[dgangle]

If one has a '63 Split Window there is no such thing as a budget. Hack up a cheap bastard 'resto' (like is seen here daily) on one of those rare gems and one has made a terrible financial mistake. Apples to organges

 

[brew8]

You can keep it stock and make it run and look nice, if all the mechanicals need a tweek and not an overhaul (good luck with that). But body work and paint will cost you, mechanicals are pricy and conversions done right willl cost as well, I have not seen a proper clean up done for less that 15K, a true resto, much much more. If your is very clean you might be lucky. Beware all the upgrades AKA more is better, this syndrome is very hard on the wallet.

 

[vandals cruiser]

I'm in the middle of a resto myself. Like dgangle said it was the parts that would be easier to rebuild now that it was apart than later that killed me. Also this thing will nickle and dime you to death. Also I decided to through my budget out the window because I was tired of telling people what the new budget was. It all depends on how thorough you want to be.

 

[okie]

a tip on the bolts is don't go to the local hardwear store , instead when you take the bolts off of each item make note of their size and how many of them you will need. Hell, if they are in good condition i would replate them. sometimes thats cheaper.

anyways buy your bolts in bulk. Im lucky enough to have a Fastenal near where i live and i have saved tons of money that way.

 

[bbalbano]

Skip the chit chat, post up some more pics of your ride already...