Thinking of buying and/or rehabing a house? Below are some quick cost estimates to use as a guide.
The best estimate you're gonna get is by calling an electrician. And a plumber. And a painter. And a handyman. And a landscape design company.
Or a general contractor who can do it all or outsource to a handful of subs. But getting bids takes time.
Here's a back-of-the-napkin way we would estimate rehab costs for a 1360 square foot home with 3 bedrooms and 1.5 bathrooms...
LIGHT REHAB
$23 - $35 psf ($31,419 - $47,208)
Includes:
replacing electrical fixtures
painting the interior
painting the exterior
replacing flooring
upgrading vanities
new appliances
MEDIUM REHAB
$39 - $57 psf ($53,379 - $78,041)
Includes:
replacing electrical fixtures
reconditioning plumbing fixtures
painting the interior
painting the exterior
replacing flooring
upgrading vanities
new appliances
light landscaping
replacing doors and trim
new cabinetry
new countertops
HEAVY REHAB
$45 - $64 psf ($61,582 - $87,011)
Includes:
replacing gutters & fascia
replacing windows & trim
replacing plumbing fixtures
replacing electrical fixtures
painting interior
painting exterior
replacing flooring
upgrading vanities
new appliances
heavy landscaping
replacing doors and trim
new cabinetry
new countertops
TO THE STUDS
$74 - $98 psf ($100,794 - $133,932)
Includes:
replacing all non structural elements of the subject property
replacing roofing & siding
painting interior
painting exterior
ripping out the old drywall, replacing insulation, and installing new drywall
re-wiring the home's electrical
new plumbing rough ins
new electrical fixtures
new plumbing fixtures
replacing all doors and trim
putting in new windows, window fixtures, and window trim
putting in new floors
new cabinetry
new countertops
new appliances
heavy landscaping
Recent inflation has created massive price fluctuations in construction materials. There are obviously also a BUNCH of factors that affect what the actual cost per square foot would be to rehab any specific home, and it is always best to get specific quotes from contractors, but when we need to make really quick estimates about what it might cost to redo a target property the above has proven to be quite handy!
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