Rehab Cost Estimate

[Michael Stole]

Hi, I am new to this forum, and am so excited to find such a forum.

I just bought a 2007 built REO, the thing is the house just has a frame, no electrical wire, no plumbing, no insulation, no drywall. Nothing interior. So could any body give me a rough idea on the cost of each project? For example, what is the likely material and labor cost on electrical wire? plumbing? Any idea will be greatly appreciated.

The basic condition of the house is as follows: 2 levels, with a full basement. Each level is 800 sqft. I plan to have three bedrooms on the second floor. Living room, family room, study room, and kitchen on the first floor. A fourth bedroom in the basement.

[Aaron McGinnis]

First of all, I wouldn't want the same crew to do my plumbing AND my wiring.

Those are both mechanical issues, and, IMO are dedicated trades. What you're talking about is beyond "Fix this leaking toilet" and "Fix the outlet that's wired backwards"... wiring an entire house, plumbing an entire house, these are not simple tasks... and you don't want a jack of all trades, master of none-type crew mucking about with your mechanicals!

Personally, I'd seek out a licensed master tradesman for any and all plumbing, HVAC, and electrical.

Now to directly answer your questions -

I would NEVER. EVER. consider paying my plumber and electrician an hourly rate. ESPECIALLY not for a new construction job (which is what you have) where all the framing is exposed.

I would make them quote the job using cost in place. I want my plumber to account for every socket, every light fixture, every switch, the service panel, etc. and tell me what each one will cost. The cost is then the cost.

Ditto the plumbing... add up the number of fixtures and give me a per-fixture cost (A sink is a fixture. A WH is half a fixture. 3 exterior hose bibs are a fixture in sum. Etc.)... I pay about $300 per fixture for my plumber. Of course, I have a real good relationship with my tradesmen and never, ever give them **** (pardon my French) about getting them paid for work well done.

For a job of this size, I'd say you're going to need a day to day foreman... otherwise scheduling and keeping your crews from stepping on each others' toes will start getting dicey.

Even if you make up an electrical plan (which I would do) and a plumbing plan (Which I would also do), you still need oversight on the job to make sure that human error (Murphy lives!) doesn't creep up and put a toilet in the wrong dang place.

In fact, for most of the work you're needing done I wouldn't pay anyone hourly. Sheetrock gets quoted by the board, not by the hour. Tile is by sqft, so is flooring, so is paint.

About the only people I'm willing to pay hourly are my demo crews and my carpenters, and that's primarily because those are two things that are very hard to estimate by the job... sometimes a piece of lumber just needs to be haggled with for a long darn time before it gets 'just so', and a master carpenter won't be able to leave it alone until it IS 'just so'