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Path to Purchase Step 12

Estimating Rehab Costs

Estimating costs on a rehab can be challenging, especially if you’ve never managed a renovation before. This section may not pertain to those buying out-right turnkey properties, but it’s important to understand the factors of estimating rehabs, since you will inevitably have to do them if you’re a long-term real estate investor.

Resources in this step:

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Education

Learn the basics

Rehab Estimate

Major Rehab Property Walkthrough and Q&A

If you’re a buy-and-hold investor, you may only want to make your rental property functional and safe. Flippers may upgrade fixtures and appliances to top-of-the line requirements—or revamp a floor plan completely.

Tools

Apply your learning

Regardless of your strategy, you’ll need to know the methodology behind a successful rehab. Without an accurate budget or scope of work, you’re walking blindly into a project that could take tens of thousands more to complete, or weeks or months more time. Don’t put yourself at risk. Estimate rehab costs using time-tested methods!

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Connect with partners

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Consult the community

step 12 estimating costs sow
View rehab forums

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Dive deeper

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Step 11 Performing Due Diligence Step 13 Executing Your Rehab