Austin Real Estate Market: Average Remodel Cost (Modern Home)

Austin · Member since 2019 · 3 posts · 1 vote

Hello BP family,

I wanted to know if anybody knew how much the remodel's are costing for the flips that are currently going on in east and central Austin? The remodel's currently being done look to have undergone a decent demolition sometimes full demolition and then remodeled.

I'm curious about the cost associated with these projects and what the average cost is when doing these projects? Any insight would be greatly appreciated! I will be embarking on a career as an Army Officer after college and I'm greatly interested in becoming a REI.

best,

Christopher

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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
7y
@Christopher McDaniel that's incredibly hard to answer because you need to know the scope of work. Remodeling a home is completely different than scraping an existing home and rebuilding. I just spent $60,000 on a full exterior and interior remodel in east Austin. A new build could be several hundred thousand.
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Christopher McDaniel
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Austin · Member since 2019 · 3 posts · 1 vote
7y
Thanks Jordan! Your input really put my idea into perspective for an eager college student like me. The property that I'm talking about is for sale in East Austin and isn't really viable so it would need to be scrapped. However, the property is big enough to add an additional unit in the back. It minutes away from downtown and the equity over time should increase solely on location without considering the equity/value that would be added from the remodel. I think the best option would be to scrap it and make a new dwelling with an additional unit in the back.
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