Don't know what your project looks like but I think if your doing a typical PHILLY row-house (1100 sqft -1500 sqft) Maybe 3/1 or 3/2.
You can get away with pricing the rehab by square footage. Just make sure that the
contractors that are giving you their bids, they do those type of projects all day.
But in the last 6 months I've seen $95 to $120 per sqft.
While this is true, as a contractor I always get very anxious when clients ask me for this number or have an expectation. I ALWAYS explain to them that there are far too many factors involved in a renovation project to accurately estimate this. Even a “full gut” has nuance that varies from project to project. Is the framing all staying? Is the exterior being completely redone? Does the roof need to be replaced? If the roof needs to be replaced, how many sheets of plywood need to be replaced? It’s too much to estimate and I would argue that if someone is giving you that number, they either don’t understand their numbers or they do and they have so much wiggle room (profit) built into their number that they can afford to give you a blanket number like that. The only time a price per square foot number makes some sense is in new construction, and even then there can be variations in current conditions like the soil types, is underpinning required, are utilities already tapped, etc.
In short, be VERY cautious about a price per square foot number and only use it for rough, initial estimating purposes.
The contractor that I am familiar with estimates around $85/sqft if its already gutted, $95/sqft if isn't and still needs cleaned out before renovation begins. I consider that to be a pretty average middle ground price point for Philly.
You could probably find someone who would quote you as low as $60/ sqft but in my experience you get what you pay for. Hope this helped!
Don't know what your project looks like but I think if your doing a typical PHILLY row-house (1100 sqft -1500 sqft) Maybe 3/1 or 3/2.
You can get away with pricing the rehab by square footage. Just make sure that the
contractors that are giving you their bids, they do those type of projects all day.
But in the last 6 months I've seen $95 to $120 per sqft.
While this is true, as a contractor I always get very anxious when clients ask me for this number or have an expectation. I ALWAYS explain to them that there are far too many factors involved in a renovation project to accurately estimate this. Even a “full gut” has nuance that varies from project to project. Is the framing all staying? Is the exterior being completely redone? Does the roof need to be replaced? If the roof needs to be replaced, how many sheets of plywood need to be replaced? It’s too much to estimate and I would argue that if someone is giving you that number, they either don’t understand their numbers or they do and they have so much wiggle room (profit) built into their number that they can afford to give you a blanket number like that. The only time a price per square foot number makes some sense is in new construction, and even then there can be variations in current conditions like the soil types, is underpinning required, are utilities already tapped, etc.
In short, be VERY cautious about a price per square foot number and only use it for rough, initial estimating purposes.
It's hard to say without knowing the full scope of the project as @Rich O'Neill mentioned, But I'll be wary of anything under $100 per sqft for a full gut renovation these days.