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Updated over 8 years ago on . Most recent reply

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12
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David Vincent
  • Real Estate
0
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12
Posts

Renovation Budget

David Vincent
  • Real Estate
Posted

I presently have a property that I am trying to flip. 4bd, 2 bath, 1,360 sqft, Purchase: 140,000, Reno Budget: 53,000.  The property is in need of foundation work which cost 14,200 off the top.  Can someone help me come up with an amount I should budget to each area of the property according to the rehab money I have available?  Right now, I am playing GC and I rather have a set "standard budget" to begin with before I meet with sub contractors. I just need a template.

Electrical:

Plumbing:

HVAC:

Siding:

Landscaping:

Kitchen:

Flooring:

Bathrooms:

Most Popular Reply

User Stats

180
Posts
123
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Robert Leach
  • Contractor
  • Romeoville, IL
123
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180
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Robert Leach
  • Contractor
  • Romeoville, IL
Replied

@David Vincent

Looks like you have $40k left to play with. I'll take a shot but keep in mind I have no clue what your house is like but good educated guess would be

Kitchen - $8000.00

2 Baths - $7000.00

Flooring mix of carpet & ceramic tile - $4500.00

Electric (meaning light fixtures and outlet/switches) - $2500.00

Plumbing (meaning finishes) - $1500.00

HVAC (meaning new 80% furnace/3 ton condenser) - $4000.00

Landscaping - $1000.00

Siding - $7000.00

Don't forget painting - $3000.00

And you have a $500.00 cushion lol...not bad for a guess but if I was forced to do that this is how I would budget it. 

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