I have never done a rehab of a house before. I am planning to buy a SFH in the Sacramento, CA area, and am trying to estimate very general costs for the rehab. Does any one have a recent project that they could break down for me to show me what different common rehab items cost? For example, replacing kitchen cabinets cost X amount, replacing the flooring throughout cost X. New dual pane windows cost X.
I know it will vary from house to house, but I'm trying to get a rough estimate for what kind of cash I need to come up with for various items.
It is not very easy to estimate right now. There are very few trade contractors available and material pricing is all over the board. Lumber is up 20%+ in the past month. In Sacramento you are still competing with a flood of insurance money into Chico, Santa Rosa, etc from the recent fires. 6500 tradesmen drive into Chico everyday. An equal number are going into the Bay or up to Truckee/Tahoe for top/top dollar. I am not trying to discourage you, I just don't want you to look at numbers from somewhere else in the US or even locally from two years ago and think you can get anything resembling a firm number. Good contractors are busy so they are raising prices.
In the BP fileplace there's a copy of J Scotts estimating rehab costs sheet. It's an excel sheet that you can edit but it should be a good place to start.
It is not very easy to estimate right now. There are very few trade contractors available and material pricing is all over the board. Lumber is up 20%+ in the past month. In Sacramento you are still competing with a flood of insurance money into Chico, Santa Rosa, etc from the recent fires. 6500 tradesmen drive into Chico everyday. An equal number are going into the Bay or up to Truckee/Tahoe for top/top dollar. I am not trying to discourage you, I just don't want you to look at numbers from somewhere else in the US or even locally from two years ago and think you can get anything resembling a firm number. Good contractors are busy so they are raising prices.
Thank you both for your responses. Cameron, I'll definitely check out the rehab estimator tool, that sounds like a good place to start. Joe, thanks for that perspective, I hadn't considered those factors.
@Kyland Stevens Welcome! Another great option is to hit Home Depot and Lowes. You can see the cost of flooring plus install cost. Countertops plus install cost. Windows plus install cost. Water Heaters plus install cost. Cabinets plus installation costs. Toilets etc, You get the point. Home Depot and Lowes post these costs so look for the signs that state the cost or ask an associate. This was invaluable in my first learning. Now before people compare Home Depot contractors to independent contractors this is just a way to gauge cost. I have used Home Depot and Lowes without any problems when I cant find a local tradesman. As @Joe Bertolino pointed out it is very difficult to find people right now. Costs will vary on type of neighborhood and type of materials. I spent hours in these stores asking questions. It really helps. Good luck and keep us posted.
In Marin, electricians are running about $100-$125/hour; carpenters about $60-$75; plumbers $90; general laborers/demo guys/landscapers: $25-$35. Along with Home depot check IKEA for cabinet/countertop installation prices.
@Kyland Stevens congrats on taking that step! as an active flipper I will start by saying what everybody else said, its all very dependent on the home and specifics of said repairs. BUT i can give you my numbers from my recent jobs:
interior/exterior/cabinetry refinish and paint (includes all caulking of new baseboard and trim) - $5500
new exterior trim throughout the entire home + new gutter - $3000
flooring install w/ baseboard $2 per sq ft
dont take these to heart as AGAIN, my guys arent your guys, my job isnt your job and it all varies :)
I actually have a question: Where are the BP files? But also may be able to help. I have a construction and roofing company. We specialize in insurance claims. With that we use an estimating ro "takeoff" tool called exactimate. This software can give you prices for your areaand it is very very close. Its VERY, VERY expensive as well. There are people that will charge a small fee to run a take off for you. You can even give them the address and they can be pretty precise. There is also www.craftsman-book.com This is the same thing but ALOT cheaper.
Thank you all so much for your advice, I will consider everything you've said here. Going to Lowes and looking at the combined materials and install costs is a great idea, I will look in to that. Thanks again guys!