Case Study: Estimating Rehab Costs per SF
One of the most frequently asked questions I hear from new house flippers is how much do repairs costs and how much should I budget per SF for a rehab. Unfortunately, the answer is it depends... It depends on the Scope of Work, depends on the materials used, depends on the location and many more factors. Estimating Rehab Costs using an arbitrary $ per SF value can be dangerous, especially if you don't know what Scope of Work is included. Before you use a $ per SF amount for quickly estimating rehabs, you should really take the time to understand the Scope of Work that is included. For this reason, I recorded a Case Study which takes a detailed dive into 3 different Scopes of Work to help you understand what repairs are included for a Light Cosmetic Rehab, a Heavy Rehab and Full Gut Rehab. Remember, although we provide some cost ranges for Light, Heavy & Full Gut Rehabs, it's always best to create your own Estimates and calculate your own $ per SF values that will work for your specific projects, materials and location.
January 2, 2019