Estimate renovation costs for your investment property. Use quick estimates based on cost-per-square-foot or enter detailed line items for a more accurate budget.
Quick estimates use industry-standard cost-per-square-foot rates based on the scope of work.
Standard ($45/sqft): Kitchen/bath updates, new fixtures, some structural
Pro Tip: Always add a 10-15% contingency to your rehab budget for unexpected issues. Your adjusted budget would be $103,500.
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Accurate rehab cost estimation is critical for profitable flips. Underestimating repairs is the #1 reason flips fail. This guide covers how to create reliable renovation budgets.
Quick estimates based on renovation level: Cosmetic refresh ($15-25/sqft) - paint, flooring, fixtures. Standard rehab ($35-50/sqft) - add kitchen/bath updates. Full gut renovation ($60-100+/sqft) - new everything including layout changes.
For accuracy, estimate each category: Kitchen ($15-50k), Bathrooms ($5-20k each), Flooring ($3-8/sqft), Paint ($1-3/sqft), HVAC ($5-15k), Roof ($8-15k), Windows ($300-800 each), Electrical ($3-8k), Plumbing ($3-10k).
Always add contingency: 10% for cosmetic rehabs, 15% for standard rehabs, 20%+ for major renovations or older homes. Unknown issues (mold, structural, code violations) will eat this buffer—if nothing goes wrong, it's extra profit.
Use price-per-square-foot estimates: $25/sqft for cosmetic (paint, flooring, fixtures), $45/sqft for moderate (kitchen/bath updates, some systems), $65+/sqft for full gut renovations.
Kitchen and bathrooms are typically 40-50% of total rehab costs. HVAC, roof, and foundation issues can quickly add $15,000-$30,000 or more to your budget.
Yes, before going under contract on a flip. Get 2-3 bids from licensed contractors. Use the middle bid for budgeting and add 10-15% contingency for surprises.
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