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Estimating Total Gut Rehab Costs


I am trying to get a rough estimate the total cost (PSF) to complete a total gut rehab of a house in the Boston, MA area (Arlington). I realize that getting an accurate figure requires viewing the site and determining the level of rehab, but I am looking for a "rule of thumb" or some other general guidance.

This question is not for a flip, but for a first time home owner that finds a house that needs such drastic work. It is hard to determine how much work ($$) would be required on such houses, so I tend to overlook such houses.

Any guidance would be appreciated.

Re: Estimating Total Gut Rehab Costs

This afternoon I’m putting an electrical number to a total gut and redo for a 2500 sq/ft single story over a full basement. The area has been rezoned from residential to commercial and this will be an architect’s office. It includes the site, new sewer tied to city all new electrical, windows, roof, plumbing, mechanical, you name it.

Valuation is posted: $250,000.00 to $350,000.00 for the project.

Or from $50.00 to $70.00 per sq/ft.

Re: Estimating Total Gut Rehab Costs

I was going to guess $75 / sqft, but this is only a SWAG. So I am a little higher than Kentvw. There is so much that can make that number go higher or lower that is is really hard to have a rule of thumb on rehabs.

You could make up an excel spreadsheet that would itemize different areas of a house and a $ allowance for those items. Then when you look at a house you could fill in what you think is necessary for that property. I tried to attach a sample .xls but couldn't get it to work.

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