Prices have jumped up pretty significantly the last few years; I had an addition done in 2021 just when lumber was starting to go berserk and I spent $100/sf *BUT* I use a lot of these contractors in my rental business and it wasn't a turnkey job - I did the electric, insulation, HVAC extensions, painting and trimwork.

The simplicity of the “I’ll take the number 5, with extra insulation and interior paint on the side” approach was appealing.

Renovation PlanScope of Work:Convert 0.5 Bath to Full BathEstimated Cost: $7,500Details: Add shower or bathtub, update fixtures, ensure proper plumbing.Add Bedroom in BasementEstimated Cost: $15,000Details: Install egress window, insulate, add walls, flooring, and electrical work.Replace DeckEstimated Cost: $3,000Details: Replace existing 8'x10' deck with new one.General UpdatesEstimated Cost: $45,000Details: Update kitchen, bathrooms, flooring, paint, fixtures, and necessary repairs.Total Renovation Costs: $70,5004.

Set up and site prep, open permits2.) demo and clean up (also electrical and plumbing demo)3.) rough carpentry, windows4.) rough plumbing, electrical5.) city inspection6.) insulation (and inspection, at least here in Wisconsin)7.) drywall, texture, primer, paint8.) cabinets and flooring9.) doors and millwork10.) flooring11.) finish electical12.) finish plumbing13.) appliances14.) punch list15.) final clean upYou can alwys tell a bad crew when they are drywalling in one room and then start demo in another.

This insulates the Landlord from rising expenses over the term of the lease.2. 

11DefineConsult an interior designer12PlanCreate project plan (timelines, key dates, who to contact)13PlanCreate budget and brainstorm financing options14PlanSecure financing15BuildGet permits and licenseses16BuildGet water/electricity/power hookups set up17BuildPrepare for build (e.g. lay foundation)18BuildBuy structure19BuildBuild and remodel structure (insulation, electric, siding, etc.)20BuildBuild out interior design (e.g. paint, decorate, etc.) and buy appliances/decor21BuildBuild out lawn and landscape22BuildFinalize the exterior of the building (e.g. paint and fixtures)23MarketTake photos24MarketCreate listing25MarketCreate websiteThanks!

If you have a multi-family property, then you have to figure out how to make the tenants share the responsibility or you hire someone to handle it for them.You have to consider insulation, maintenance of weather stripping on doors and windows, servicing the boiler/furnace, winterizing sprinkler systems, disconnecting garden hoses from hose bibs, and much more.It's very risky to manage rentals from a distance.

Installing small things like a heat pump and insulation with new double or triple-pane windows for snow regions.

What is the insulation R-value?

It needs to properly sized for the square foot and the sun load and the amount of insulation in the unit.