Rule of Thumb Costs for Rehabbing a Foreclosed Home
| Standard Foreclosed Home 1,000 sq. ft. 3 – 4 beds, 1bath | Rule of Thumb Costs (costs are averaged) |
| EXTERIOR | |
| Roof – standard tear off and reshingle | $4,000 |
| Roof – replace plywood | $1,500 |
| Roof – add a layer of shingles | $3,000 |
| Vinyl siding (removal of old siding included) | $6,000 or $5 – $6 / sq. ft. |
| Tuckpointing | $1.50 / sq. ft. |
| Pour new concrete – 4″ deep | $7.00 / sq. ft. |
| Replace windows | $225 – $250 / window |
| Cap windows (w/ aluminum) | $80 – $100 / window |
| New soffets and facia | $2,500 |
| Install new gutters | $1,200 |
| Replace exterior doors (steel or solid wood) | $400 – $500 / door |
| Landscaping/grounds cleanup | $500 – $1,000 |
| INTERIOR | |
| Gut whole house interior – includes disposal costs | $2,500 |
| Rough plumbing – run new copper plumbing through house | $4,000 |
| Upgrade to 100A panel | $1,500 |
| Rough electric – new electrical throughout house | $4,000 |
| Install 40 gallon hot water heater | $700 |
| Install furnace (assuming no duct work) | $1,800 |
| Average furnace repair cost | $300 |
| New Drywall – hang & tapel | $6,000 |
| Drywall – patch and plaster | $2,000 |
| Replace interior doors and hardware | $1,500 |
| Install new carpet (industrial low pile) | $1.50 / sq. ft. |
| Sand, finish, stain old wood floors | $2.00 / sq. ft. |
| Heavy duty 18×18 vinyl tiles (w/ underlayment) | $5 / 18″ square |
| New bathroom – Concrete backboard, toilet, ceramic floor and shower wall, pedestal sink, tub, toilet, new subfloor | $4,000 |
| New kitchen – New cabinets, sink, counter, vinyl floor | $5,500 |
| Trim work – install new trim for windows, doors and floors | $1,500 |
| Trim work – repair old trim work | $400 |
| Electrical finish work – New outlets, trim, light fixtures, smoke detectors, CO | $800 |
| Paint interior of house | $1,500 |
| Install fridge and stove | $1,000 |
| Install washer and dryer | $1,000 |
| Privacy fence | $20 / ft |
| Finish full attic (including small electric work) | $5,000 |
| Basement – patch & paint gray – walls and floors | 950 |
| Demolish 1 car garage include disposal | $1,200 |
| Drink Beer with friends | Priceless |
| *Add 15% – 20% GC fee if you do not do your own project management | |
LEAVE A COMMENT: 2 Comments
I noticed that you typically install a furnace but you don’t mention air conditioning. Did you leave it out or do you use window units?
In my area and price point in the Chicagoland area, most of the rehabs and rentals use window AC units which I try and have the tenant supply because there’s always issues with these – something breaking. For some of the rehabs and flips we’ve done at higher price points, central air conditioning was provided because it was expected.