In that old a house, the only way I will bid is time and material. Have run into too many problems along the way- most no one knew the existed untill walls were opened up. This is a better way because when the problems occur, you can discuss other options without the change order discussion.
You also can but I do not recomend halting the work if a severe problem occurs with realitively little trouble. Also if you change on what you want, it is usually not a big deal.
On a hard dollar contract all the above can be causes of a lot of heartburn.
If you know exactly what you want and what is proposed then go with the firm price. But do not be supprised if something goes wrong.
Too many of those fine old houses had thing done in the past that will cause a problem today. Hopefully the will be minor and easily fixed.
I have one that now will cost the home owner a bundle. When the plumber opened up a wall to run pipe upstairs, they found the main support beam broken. A structorial inspector from the city condemened the house.
Now all work has stopped untill the bank approves more money. Why this was not found before has become the subject of a law suit.
On this project I have no idea when or if the work will be done. Because of my T&M bid the owner is square with me. Everyone else is waiting for thier money.
