Scope of Work Pricing estimates

[Kyle Peters]

Hey everyone, 

I recently finished reading J. Scott’s Book on estimating rehab costs. I know the book was published 5 years ago and the associated materials may be a bit outdated with the inflation that has taken place in the last 5 years. Does anyone have a template with basic Scope of Work Pricing Estimates? I’m closing on a property in a few days and I’m curious to add up our budget for rehab costs.

Thanks!

Kyle

[Evan Polaski]

@Kyle Peters, I bought J. Scott's book in 2020 or 2021 and found the estimate sheet to be fairly close to what I was paying at that time.  I haven't looked at J's numbers since then to see what has doubled, what has tripled, and maybe what has stayed somewhat close...

That being said, if you are looking for very, very borderline useless numbers, plan on $50/psf for a moderate update to $100/psf for near gut remodel.

Given that you are already very close to closing, realistically, I would say, you just need to get actual bids for your scope of work.  The more you can GC and oversee the subs directly, the cheaper it will be.  And the more detailed your scope of work is, the cheaper it will be.  Change orders and unknowns always just increase the prices.