Cost Estimation for Rehab

7 Replies

I am looking to rehab a home (purely cosmetic) in Los Angeles County.  I have been doing a lot of research about costs and I will be getting bids from contractors. It will new kitchen, floors, redo bathroom from head to toe, maybe new plumbing if needed.

However I am really trying to find a estimated cost sheet so I can develop better estimates when looking at properties prior to getting bids from contractors.  Is there a software or templates that can give me general costs (specifically for CA) for rehabs (pricing for flooring, cabinets, etc...) and/or if there was a thing showing typical markup that contractors use so I can gather my own pricing and pad it with markups.

Any suggestions? Thank you in advance

Try google and reaching out to GCs as you possibly can.  A whole kitchen can vary on the finishes and size.  A rental kitchen in Chicago should be $7K with all new plumbing, close to $10K with diswasher and better fixtures. 

A whole bath redo should set you back $3K for a face lift or $7K for new plumbing. 

The cost of additional plumbing may vary. Waste and vent stacks, stack vent through roof, water heater, etc. 

All depends on the cabinets and plumbing fixtures you select.  E.g. American Standard is mid grade, Kohler and Toto could be mid high end, Grohe is high end, etc.  Also, the price is contingent on the tiles and finishes.

Take dimensions and go to home depot kitchen and bath desing. Compare to IKEA. Go to a higher end kitchen designer company or interior design. You may need to pay the interior designer, this is the cost of education. 

Best of luck, 

Frank

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The costs will vary from area to area. 

The materials vary but labor costs vary as well.

I usually assume $10 dollars per sqft (interior livable sqft) on a very light cosmetic rehab that would only be some flooring, cleaning, paint, change of plumbing fixtures, possibly some appliances, and kitchen hardware, along with some new trim).

Once we get to redoing the trim and doors and new kitchen it can get up to 20-30 dollars per sqft or more depending on the grade or level of work you're doing (low end, mid end, to higher end area).

Most of my experience has been with upper low to mid range rehabs and rental grade rehabs focused on getting the highest rents, with the most durable materials I can find, delivering the eye candy, but not over spending either.

So I guess for you it will depend who  you're catering your rehab or repairs for. The type of clientele will vary greatly. I am sure the Beverly Hills, Rodeo drive, or Santa monica buyer will have different tastes than a buyer in inglewood, eagle rock, or el monte areas.

In my experience it has been up to $35-50 to replace roof, siding, exterior paint, landscaping, Hvac, plumbing, and the major components along with the costmetic components mentioned above. So you'd have to try to purchase your properties with up to $50 per sqft of spread between your $ per sqft profit, and closing costs to properly plan your profit whether you're trying to flip/sell or hold and figure out how much equity you're creating.

You can always get three bids to review how the contractors price their labor and their materials.

You can call around to direct trimmers, plumbers, and other sub's to figure out what the general contractor is charging you since all the GC does is they work out a price with their Sub's and charge a fee or percentage on top of the sub's cost to make their fee.

Those are some pretty scary advices you got. Specially from someone out of state and you are located in CA. I don't advice any spreadsheet. However, most 3/2 (up to 2000sf) with new floors, paint, kitchen, bathrooms range from 15-25k on labor only bids, that's fully insured, bonded, and who can perform contractor. Rental quality materials maybe 15-20k.