There is a 1500 sqft house that is needing remediation work done. It flooded during Harvey and received about 18 inches of water. Not too bad, right? Many investors work with flooded homes. Thing is, this house was poorly remediated, they didn't cut high enough or even let all the furniture, belongs, etc. to air out. It has been about 8-9 months since Harvey. I am not experienced with flooded homes, so I don't know how much the rehab cost would be. Could someone inform me the formula to figure out the average for a rehab for a flooded home?
I'm in the middle of 2 flood rehabs and have completed two others. The two i'm doing now were extensive. Full re-pipe and re-wire, full sheetrock downstairs (ceilings too), upstairs just new texture, all doors replaced, all cabinets replaced (upper and lower), all new flooring (enigineered wood, tile and carpet upstairs), etc. I am GC for clients on these and both those estimates came in at $80/SF. Another I did where we only replaced half the flooring, half the sheetrock, all the cabinets but did no mechanicals came in at $57/SF. The first one I did where we just did flooring, lower cabinets, sheetrock 2 feet up and paint came in at $27/SF. All four of these were estimated when the labor costs were at peak. Those costs have come back down to realistic numbers now too.
Every situation will be different but i hope that helps some.