Does anyone know the average cost to gut & remodel 600sq ft home? House is already quite empty as it was not occupied and copper was stolen and wall was knocked down. flooring was pulled up may need new bottom foundation. Please help as this would be my first, if possible
No one here will be able to give you a useful answer because it depends on many variables: the labor rates of local contractors, cost of materials locally, as well as exactly what materials you intend to use. Your best bet is to ask in the forum specifically for your location and provide a bit more detail as to your scope of work.
What’s the city? Cost runs $25-50/SF depending on what work you’re doing, what market you’re in, how much mechanical work, siding/roofing. Not going to recommend a full gut for a first time newbie as it’s much higher risk with more unknowns and you don’t have established group of contractors to trust and get a pricing from.
That is too small of a home to remodel in my opinion. I did a 900 sq ft house earlier this year and it was a tough sell.
I just did as in depth of a Reno as you can do without tearing down and building new. I did most labor myself with another highly experienced contractor. Hired out electrical plumbing and heating. Two units totaling 1400 Sq ft. I was all in for about 85k for the Reno.
@Ashley Snyder , I spend roughly $100/sf for full gut Reno's. But these are not low end finishes or bargain basement contractors. My Reno's range from about 80-120/psf.
I'm in LA (new to investing), but familiar to Reno and new construction (with a construction family) and ball park $200/ sq.ft. for rehab and $400/ sq.ft. for new construction/ additions. That might be a little conservative.
Can anyone else speak to those numbers in LA or similar high-priced markets?