Estimated Rehab Cost Per Sq Ft. For Columbus Ohio

[Isaac Lane]

Hi! I was wondering what are wholesalers and flippers in the Columbus Ohio area using to roughly estimate rehab cost per square feet? Thank you!

[Bryan Devitt]

You do not and can not toss a general rehab number based on sq ft at houses. Each one needs different things and they're at different price points. I won't give the same number for a kitchen in a $200k house as I do for a $500k house. The sq ft price also doesn't matter because a 1500sq ft 3/1 and a 1000sq ft 3/1 will have roughly the same kitchen cost and the extra 500 sq ft is generally the cheapest part of the rehab with paint and flooring 

[Mike Hasson]

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.

for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor

+ always add an extra 10% for unforseens

So you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.

keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.

A good place to start with figuring costs is The Book On Estimating Rehab Costs by J. Scott

[Eliott Elias]

I personally don't agree with the cost per square foot method, way to vague and inaccurate. I would say look at the big ticket items, roof, foundation, electric, plumbing, HVAC and assess from there if anything needs to be done 

[Scott Allen]

@Isaac Lane Try to find a good contractor that can walk the properties for you to give you an estimate of what the cost will be to rehab/renovate everything. From there, know your ARV and guage what you want to offer to make the deal make sense for you.