Estimation costs for Renovations ?

Question

Does anyone have any good ideas about how to more accurately estimate the costs of rehabbing or renovating a property?

Greg Dickerson · Answer

You can talk with contractors and vendors and build a cost data base spreadsheet.

Create a list of improvements for the outside and the inside they can give you general cost of the items that will be priced by the square foot and also by the each.

Cameron Tope · Answer

@Cynthia Reddy you'll need to speak with local folks like @Greg Dickerson mentioned.

You can also go and price the floors, paint, etc. from a local home depot or lowes. Just make sure you include labor and add a little fluff for the unexpected things that come up.

Best of luck!

Lien Vuong · Answer

It's impossible to have a flat metric that works in any area of the country but knowing what things costs and what GCs are billing per project would help you. Start by itemizing basic cost such as windows, water heaters, roofs, baseboard/frames, etc. Learning what those things will cost will help you to understand how budgets are structured for the quotes.

Potential you can ask some GCs to allow you to shadow them on estimates to figure out their thinking and logic. After speaking to a few you might be able to get a good sense of repair budgets and create a good average $/sf that works in your market.

Estimation costs for Renovations ?

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