Estimating rehab costs per square foot in Bridgeport Ct.
Hello everyone .
so im crunching numbers before my first fix and flip in bridgeport ct . Every GC I've called has given me a range in price per square foot . So its a bit hard for me to Guage an average If any of you have rehabbed a fix n flip in bridgeport , what has been a rough estimated for you per square foot ?
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I find the use f price per sf on rehabs to be very, very inefficient and very inaccurate. Take for example 2 hones with identical size and bed/bath counts. Home 1 needs a new roof, new HVAC, new windows, and all the rest (kitchen, baths, flooring, paint, landscape). Home 2 needs only “the rest”. Home 2 rehab is going to be much less than home 1 since it did not need the roof, HVAC, windows.
There are no shortcuts to determining rehab budgets and you must get to each property and assess line item by line item which tasks need to be completed. This takes time and lots of practice. Use an arbitrary price per sf at your own risk!