How to Estimate a Real Estate Rehab Project

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How to Estimate and Budget Your Rehab

Transcript of How to Estimate a Real Estate Rehab Project

Page 1: How to Estimate a Real Estate Rehab Project

How to Estimateand BudgetYour Rehab

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How to EstimateRehab Costs

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What to Bring to the Property

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Start with the Exterior

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Walk the Perimeter

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RoofingPriced per square$225-$400 / square$40/sq. for labor$100/sq. for materials$50/sheet for patching+$500 for dumpster

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Roofing

$3,000 - $4,000

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Gutters/Downspouts

$1,500

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Concrete

$6.00/sqft on ground$10.00/sq vertically

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Decks

depends on size/height$1,500 to start

add $1k per level

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Landscapingmulch beds/basic landscaping

$500 - $1,500don’t go overboard!

$300 - $500 / tree

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Windows

$250 per window

$500 - $1,500bay windows count as 2

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Exterior Doors

$650 for front doors

skip the screen door$250 for other doors

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Vinyl Siding

$3,000 per story

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Exterior Painting

$2,000 per story

also applies to cape cods w/trim

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Anything Else?

keep it simple!use Houzz.com for ideasdon’t skip the details

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Interior Work

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Demolitiondumpster: $500 for 30 yard

Labor - $10/hour. 2 person crew, 3-5 days.2 Rubbermaid trash cans, shovels + contractor bags.

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Drywall

patching $500-$1,000hanging/finish is $30 - $40 per 4’x8’ sheet

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Framing

wall removal + beam$1,500

general framing$100 / 8 foot section

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Rough Plumbingrough in new kit/bath or replumb existing kit/bath

$1,500rough in where existing

$500 / bath$250 / kitchen

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Electricservice change - $2,500replace panel - $1,500new electric? $25/opening

fixture + lab budget: $1,100+materials

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Trim$1,500 per story for base

$50/side for casing

buy contractor packs of trim

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Interior DoorsAlways use raised panels

$150/door total$75 if just slab + hardware

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Paint$2.25 / square footbeware of per room pricingshould include minor touch-up and all trim/casing

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Tile$5.00 / square foot total

$3.00 / sqft for labor$2.00 / sqft materials

$600 for total backsplash (Google: build realty tile backsplash)

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Bathrooms$2,500 for full bath$1,500 for half bath$1,000 gen. repair$600 hot water heater

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KitchenCabinet prices vary greatlyGranite - $30-$50/sqftConsider in-stock$800 for cabinet install

($50 / cabinet)

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Insider Kitchen TipsFind a reliable local supplier

(we recommend Unity)

Find out if they do take-offs

$4,000 total kitchen budget

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Basements

Don’t neglect the basement!

Remove almost everything!

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BasementsWhite on wallsSpray ceiling blackPaint floor gray$500-$750 / bsmt

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CarpetCall Dan Jones for carpet. 886-2674$2.00 / square foot

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Hardwood$3.00 / sqft foot to refinish

$2.00 / labor sqft to install

try Lumber Liquidators