REHAB COST for different types of work:

[Jenny Ou]

Hello BiggerPockets Friends!

I'm currently looking at a few potential single-family fixer-uppers (some in Worcester, Taunton, and near Dorchester), and I could really use some expert advice on current rehab costs for different scopes of work.

Here are some numbers I've gathered from my contractor friends. Please feel free to give feedback on my cost-per-square-foot range:

Cosmetic fix: basic carpet, paint, flooring, new hardware, clean up, repair a few things project. Usually no permits or consultants needed $25-$45 per sq ft

Lit Rehab: includes cosmetic scope, plus updating Kitchens and baths, maybe new mill work and doors, perhaps some updating of HVAC systems or MEPS issues. Likely will not require permits or consultants $45-$65 per sq ft

Full Rehab: This includes all of the above, and new systems, new roofs, windows, some siding, non structural or minor structural reframing, finish basements, convert garages. May require permtis and consultants depending on the scope $70-$100 per sq ft

Studs out/Addition: This involves taking the existing house down to the framing. Strip everything and replace. All new MEPS, insulation, windows, roofs, siding, flooring, sheetrock, tile, cabinets, doors, etc. Likely will require permits and/or consultants $125-$150 per sq ft

New Construction/Development: This includes all hard and soft costs. Everything from Feasibility work through to the final clean. Inspections and Honey Buckets to Architects and Engineers, to door bells and mail boxes. Will require permits and consultants. $325-$350 per sq ft

Thank you!

[Brian J Allen]

In Worcester, I think your numbers are pretty close, but there are also a lot of Programs between Mass Save, and the City of Worcester that will pay for many of these things if you agree to an income restriction, or sell income restricted.  Also, if you shop around you can do better on some prices.  But I try to encourage my clients to value time to market.  If you hit the ground running you can turn a unit or a building around quicker and get yourself to renting sooner.  Some people are trying to save $10k on the project but it cost them 2 or 3 months and they have a lot of time on task, and a lot of personal overseeing.  I DON'T THINK IT IS WORTH IT.  DO THE PROJECT AND GET ONTO THE NEXT ONE.