As a real estate investor, you must be able to estimate how much it will cost to fix up a distressed property. This presentation walks you through the steps and budget items for calculating the cost of a full-blown property renovation. Note that the prices shown are based on Midwestern US properties and may vary by region.

1. HowtoEstimate
andBudget
YourRehab

2. HowtoEstimate
RehabCosts

3. What to Bring
to the Property

4. Start with the
Exterior

5. Walk the
Perimeter

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

7. Roofing
$3,000 - $4,000

8. Gutters/
Downspouts
$1,500

9. Concrete
$6.00/sqft on ground
$10.00/sq vertically

10. Decks
depends on size/height
$1,500 to start
add $1k per level

11. Landscaping
mulch beds/basic landscaping
$500 - $1,500
don’t go overboard!
$300 - $500 / tree

12. Windows
$250 per window
$500 - $1,500
bay windows count as 2

13. Exterior Doors
$650 for front doors
skip the screen door
$250 for other doors

14. Vinyl Siding
$3,000 per story

15. Exterior Painting
$2,000 per story
also applies to cape
cods w/trim

16. Anything Else?
keep it simple!
use Houzz.com for ideas
don’t skip the details

17. Interior Work

18. Demolition
dumpster: $500 for 30 yard
Labor - $10/hour.
2 person crew, 3-5 days.
2 Rubbermaid trash cans,
shovels + contractor bags.

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

20. Framing
wall removal + beam
$1,500
general framing
$100 / 8 foot section

21. Rough Plumbing
rough in new kit/bath or
replumb existing kit/bath
$1,500
rough in where existing
$500 / bath
$250 / kitchen

22. Electric
service change - $2,500
replace panel - $1,500
new electric? $25/opening
fixture + lab budget: $1,100
+materials

23. Trim
$1,500 per story for base
$50/side for casing
buy contractor packs of trim

24. Interior Doors
Always use raised panels
$150/door total
$75 if just slab + hardware

25. Paint
$2.25 / square foot
beware of per room pricing
should include minor
touch-up and all trim/casing

26. Tile
$5.00 / square foot total
$3.00 / sqft for labor
$2.00 / sqft materials
$600 for total backsplash
(Google: build realty tile backsplash)

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

28. Kitchen
Cabinet prices vary greatly
Granite - $30-$50/sqft
Consider in-stock
$800 for cabinet install
($50 / cabinet)

29. Insider Kitchen Tips
Find a reliable local supplier
(we recommend Unity)
Find out if they do take-offs
$4,000 total kitchen budget

30. Basements
Don’t neglect the basement!
Remove almost everything!

31. Basements
White on walls
Spray ceiling black
Paint floor gray
$500-$750 / bsmt

32. Carpet
Call Dan Jones for carpet.
886-2674
$2.00 / square foot

33. Hardwood
$3.00 / sqft foot to refinish
$2.00 / labor sqft to install
try Lumber Liquidators