Posted by Tom-FL on July 15, 2003 at 20:33:41:
>> $100/sf for any rehab work
Sounds a little goofy to me.
House A, paint and cleanup, 1500sf X $100sf = $150,000.
House B, burned to the ground, one wall left standing 1500sf X $100sf = $150,000.
Something isn’t right.
Even if it was $1/sf, the two examples CAN’T cost the same.
How much can I expect to spend on… - Posted by Christie (TX)
Posted by Christie (TX) on July 15, 2003 at 18:47:41:
I posted this before but it got lost in the “subject to” discussion.
3/1 SFH built in 1957, 1200sf, cul du sac lot
ARV $140,000, comps in area $125-150K
It needs, at the very least, a total kitchen redo, plus flooring in the kitchen & living (300sf), new patio (or at least have the old concrete one removed), central air (has central heat already).
I’ve heard I should expect to pay $100/sf for any rehab work. Is this right?
Re: How much can I expect to spend on… - Posted by jasonrei
Posted by jasonrei on July 17, 2003 at 17:06:24:
If this deal was in Houston I’d think-
kitchen redo: depends on if it is really a COMPLETE redo (like gutted from a big fire) or just needs new cabinets, countertops, appliances, lighting, and sink.
I’d say well under $10k for the simpler job. If it’s like Corian counters and backsplash, custom cabinets, awesome appliances, etc I’d say up to $30k.
carpet: berber carpet in whole house (and ceramic tile in bath, kitchen, and maybe dining- and assuming they have to break up existing tile)… $3000 or less
central air: a new 3.5 ton system with flexduct could be gotten retail for $2500-$3000 installed
That’s what I’d be looking at.
Re: How much can I expect to spend on… - Posted by Dee-Texas
Posted by Dee-Texas on July 16, 2003 at 07:38:19:
You didn’t say how much you were going to pay/take subject to, etc? A kitchen redo in a middle income home can cost 10K PLUS, you have a higher end house which will cost more, flooring in highend can cost (this is MID-NICE end carpet price) $24 sq.yd. which includes labor. Central air approx. $2K per ton (includes labor but not new ducts), all of this depends on what prices are in YOUR area.
At what I’m seeing in what figures you gave, I’m not seeing a deal with all the work involved.
OHHHH and rule of thumb, after you figure the construction costs…ADD…AT LEAST 10% on top for extras.
Great $uccess,
Dee-Texas