System For Estimating The Cost Of A Rehab
Does anyone have a system for estimating the cost of a rehab. I was thinking about putting together a spreadsheet that has the estimated cost of say, recarpeting per square yard, cost of painting per sq ft, cost of replacing windows etc... Has anyone ever done this to help them decide if a house if worth buying.
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I am not exactly sure what extent you would like to estimate, but there are free calculators on DIY Net and Home Depot as well as Lowes web sites. You can also search for a free construction estimator. These will be very rough and some issues can cause major issues when using them, but as a rule they will average out overall.
Hope this helps some
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A good resource I use is Craftsmans National Home Improvement Estimator program. Reasonable price & pretty accurate.
http://www.costbook.com/
I am in the process of building an excel sheet for this purpose. I will share it with you when it is completed.
NJCDrexel--I would love a copy also. Thank you so much for offering to help everyone.
Robert
I use national estimator quite a bit, this however is an art and not exact science when it comes to specing out prices for anything other than flooring..
Flooring is easy Pergo 2.99 installed carpet 2.35 sf installed etc.
Is a home that is a year and a 1/2 old worth trying a short sale? :-o
Well the standard guide in the industry is Means. They publish an annual book which now comes with a CD which contains cost estimates for just about every concievable portion of the job. Even included price adjustment factors for different cities.
Problem is that their system, because it is so complete, is also kinda complicated. As somebody pointed out there is still as much art as science in cost estimating.
Chris - how can your numbers be within $100 of every contractor you call. Rates vary as to experience and overhead. If I make 5 blind calls to bid a job that your software says is $5000. I guarantee I will get somebody to come in at $4000 somebody to come in at $6500 and the others will fall in between.
All your contractors you call must be related.
Refinish them yourself. To rent a sander at Home Depot costs <$200.00 a day, the stain and Polyurethane costs less than $6.00 a gallon, so you can do a pretty good sized house in a couple of days for less than $400.00!
Generally it is cheaper to refinish than carpet. Additionally the buyers seem to like the hardwood look better so depending on what part of the market you are selling to I would make the choice for refinishing the floor vs carpet. IF your renting then carpet is a better choice I think..
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I would have it refinished............even if I am renting.
With wood you dont have to deal with dirty carpet etc.
Obviously if you refinish yourself then you would be wise to use a finer sand paper. You can always get quotes and go from there.
NC
Definately re-do the floors . I did it once , It took about 4 days, start to finish Well worth it
Just make sure you wear protective face gear especially a dust mask, a really good one