Rehab Cost per Sq. Ft.

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How to use the Rehab Cost per Sq. Ft.

1
Enter the square footage
Use the finished living area from the listing or county records.
2
Adjust for your market
Raise the cost level in expensive metros, lower it where labor and materials cost less.
3
Replace the starting rates
Use what local contractors and recent jobs actually cost. The defaults are only a starting point.
4
Add big-ticket items
A roof or foundation doesn't scale with living area, so price it separately. Then add contingency.
5
Check a bid
Enter a contractor's number to see which scope it matches.

Tap a step to jump to the matching field.

Before you have bids, you still need a rehab number to decide whether a house is worth a closer look. This tool gives you three quick estimates, cosmetic, mid-level and full gut, from square footage, and checks where a contractor's bid falls.

The default rates are rough starting points, not survey data. Costs vary widely by market, the age of the house and the finishes you choose, so replace them with local numbers as soon as you have them.

Worked example

A flipper is looking at a 1,600-square-foot house in an average-cost market. Using the starting rates and a 10% contingency, a cosmetic job comes to about $35,200, a mid-level rehab about $79,200 and a full gut about $149,600.

A contractor has bid $55,000, which works out to about $34 per square foot. That's closest to a mid-level job at these rates, but on the low side. The flipper asks what the bid leaves out before relying on it.

The formula

Rate          = Starting rate × Local cost level
Base          = Square feet × Rate
Estimate      = (Base + Big-ticket items) × (1 + Contingency)
Bid per sq ft = Bid ÷ Square feet

Common mistakes

Using one rate for every house. A 1950s house with original wiring costs more per square foot than a 2005 house with the same finishes.
Spreading a roof over the square footage. Roofs, foundations and sewer lines are priced by the job, not by living area. Add them separately.
Stopping at the ballpark. Use this to screen deals. Before you make an offer, build a line-item budget and get bids.

Questions people ask

Where do I find local rates? Your own past jobs are best. Otherwise ask two or three contractors what they charge per square foot for each scope, and check them against the Rehab Budget Builder.

Why is the full-gut range so wide? Gut rehabs often uncover problems behind the walls, and finish choices swing the total. Use a higher contingency, 15–20%, on these jobs.

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