repairs on a vacant home

8 Replies

Hello BP fam, 

I have been eying a property not far from an area that is experiencing a lot of re-vitalization.  Its has a code violation notice on the boarded up door.  the notice says unfit for human habitat.  I'm willing to bet it would be a full gutted rehab.  is there a general estamate of a full gut renovation on a 1 story home with 994 sq ft??

Probably $30-130K...

Depending on:

- Location

- Level of finishes

- Specific contractors used

- Time of year

- Style of house

- Local permitting requirements

- Your negotiation skills

- How you manage the project

A very very rough estimate may be:

Good=$2/square foot

Average=$3/SF

Mediocre=$5/SF

Poor=$10/SF 

A complete gut job will most likely be a bit more and I would go with what @J Scott  says with the 30K being the bottom end of the spectrum. 

@Kevin Hockaday  

 have you been able to look inside and see what the damage was? I would be interested in seeing some pictures and knowing what your plan is going to be.

@Paul S.  

A very very rough estimate may be:

Good=$2/square foot

Average=$3/SF

Mediocre=$5/SF

Poor=$10/SF 

Does the good, average, mediocre, poor categories refer to the current condition of the property or target condition after repair?

@Stephanie H.  That would be the condition of the home when you purchase it. If I were going to make repairs then the cost to repair after I was done would be $0 per square foot because I would have fixed everything. 

I would also add that a full gut job would likely be higher than those estimates because there would be more being replaced compared to just a renovation where I would try to use as much of the existing as possible and try to salvage as much as possible to save costs. 

Hope that helps.

Originally posted by @Stephanie H. :

@Paul S.  

A very very rough estimate may be:

Good=$2/square foot

Average=$3/SF

Mediocre=$5/SF

Poor=$10/SF 

Does the good, average, mediocre, poor categories refer to the current condition of the property or target condition after repair?

I'm done some simple rehabs, but don't think I've ever done one for less than $10/sf.

Keep in mind that -- in most places -- carpet replacement will cost $2/sf.  So, if you're doing nothing else but replacing cheap flooring throughout the entire house, you can easily spend $2/sf.

If you want to paint, include another $2/sf.  Then, if you want new cabinets, countertops, light fixtures, plumbing fixtures, doors, windows, etc., you'll spend more.  And that's just the cosmetic stuff.

Then you have the mechanicals -- electrical, plumbing and HVAC -- which can each add $2-5/sf, even if in a house that's in otherwise good cosmetic condition.

Personally, I don't like per-square-foot estimates until you become very proficient at rehabbing...when you're new, they're more likely to get you in trouble than to help you.

@Stephanie H.  There you have it! You won't find anyone out there more knowlageble that @J Scott 

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